trading-on-forex.com


Meta trader forex.


      Meta Trader is one of the most popular and heavily relied upon Meta Trading platforms around the world. However there are some who are not happy with it. Meta Trader is very complex for Algorithmic Trading and yet it's nothing complex. Many traders just avoid it thinking it's impossible to make good algorithmic trading systems and how to automate them. Well if you think like them, you will never be able to understand Meta Trader and will never make any money from it.
     Let me explain to you how Meta Trader works. What Meta Trader actually does is that it takes a snapshot of current market conditions and then uses advanced mathematical algorithms to make four key decisions. These are: Buy when the price is below the average; Sell when the price is above the average; Sell if the difference between the two prices is greater than a certain threshold; and Don't trade. Pretty tough but not impossible.
     There are three types of charts used in Meta Trader. The first one Meta Trader uses is the bar chart. This is a type of chart that makes use of color-filled bars to represent price movement. Red means Sell, Green means Buy and Blue means Open. There are two types of candlestick patterns which are used in Meta-Trader as well. The first pattern is the Simple Moving Average and the second pattern is the High Water Candle.
     The third type of chart which is Meta Trader's main chart type is the line chart. With this chart type Meta Trader assumes that the moving average line drawn across the histogram is going up and down as price moves up and down. So, instead of looking at the height and the width of the candlestick, the Meta Trader looks at the price action on the x-axis. As price moves up (vertical bar) or down (horizontal line), the size of the candle is also predicted by the size of the line.
     The advantage with the bar chart and the line chart is that they are very reliable and can provide a decent range of information about the trend. However, with the candlestick there is more opportunity for human error. In candlestick there are two types of candlesticks: dynamic and time limited. The Dynamic candlestick has four colors, which are changed every minute: red, pink, orange and green. When we use the time limit candlestick, the information is only available for a certain number of seconds.
     Therefore, it becomes very difficult to predict the close price. This is where expert advisors come in. They help Meta Trader predict the close price in the Meta Trader indicator. The drawback with the use of candlesticks is that they become very unreadable and hard to follow especially for beginners.
     The use of Meta Trader and expert advisors is to make easy trading and speculation based on the Meta Trader indicator, and the Meta Trader software. The Meta Trader indicator is based on a simple bar chart where you have the ability to put in a high, medium and low bid price. Then, based on your signals, the Meta Trader software will either enter a trade or exit a trade.
     Once you put in a signal, Meta Trader will analyze the candlestick patterns. If the pattern is a high candle, the chances of your investment becoming profitable are good. However, if it's a low candle, it could indicate that someone is manipulating the Meta Trader software. To avoid this undesirable situation, Meta Trader provides a combined set of indicators. You can open Meta Trader with a demo account and learn how to make the right decisions.

trading-on-forex.com



Copyright © trading-on-forex.com. All rights reserved.