MetaTrader5 is the newest addition in the wildly successful and popular MetaTrader trading platform series. As you will read in our forex broker reviews, most of the top forex trading brokers will support the MetaTrader platform. Some, like AvaFX, have even based their own proprietary trading platform off of it. The new version has several additions that make it more powerful and easier to use than ever before.
One of the biggest improvements in MetaTrader5 is the ability to easily manage multiple accounts. The new navigator screen lets you move between accounts quickly and easily. For advanced traders and traders that do extremely high frequency trading like scalping, this lets them execute trades in with no delay in even the fastest moving markets. For other traders that simply use different accounts to trade with different strategies, this new interface is a welcome addition as well.
The main window in MetaTrader5 has also gotten a spruce up. You can now display multiple graphs of your choosing of different currency pairs or indicators. If you prefer to be more focused on one graph, you can also focus on a single panel and trade your target currency pair.
MetaTrader5 has also made their indicators more user-friendly and included seven new indicators. The indicators are now divided into four groups. The groups are:
• Bill Williams (a proponent of chaos theory)
This makes the indicator that you are looking for easier to find than ever before. The seven new indicators include five trend indicators, one oscillator, and one Bill Williams indicator. The new trend indicators are:
• Among Moverages
• Fractal Adaptive MA
• Adaptive MA
• Double and Triple Exponential Moving Averages
• Variable Index Dynamic Average
The new oscillating indicator is the Triple Exponential Average. This is a signal that allows for you to more effectively filter out market noise. Finally, the new Bill Williams indicator is the Market Facilitation Index, which is a signal based on how volume, price, and the indicator interact with each other. All the new signals make great additions to your forex trading strategies.
No discussion of MetaTrader would be complete without discussing its award winning automated trading functions. In MetaTrader5 you get access to a cleaner, leaner, and more powerful trading script generator. Several bugs in the past version have been fixed, allowing for fewer problems in the creating and execution of different trading scripts. It has been made to be more user-friendly. With MetaTrader5, advanced trading scripts don’t have to be the domain of just the most advanced traders anymore. If you’re ever lost, the powerful expert advisor that comes packaged with the program will help you along.
MetaTrader5 is a great new addition to what is arguably the most successful forex trading platform on the market today. Whether you have a demo forex account or are a VIP with tens of thousands in the market, you can harness its unique and powerful features to make successful trades. By keeping the software simple yet powerful and streamlining the interface and menus, with MetaTrader5 you can see the market’s movements more accurately and put your trading knowledge to work.