How to add money to mt4

The following data will be requested to open an account: this window contains three options:

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Opening of Accounts, how to add money to mt4.

Opening of accounts

Terminal allows to work with two types of accounts: demo accounts and real accounts. Demo accounts enable working under training conditions, without real money on them, but they allow to work out and test trading strategy very well. They possess all the same functionality as the real ones. The distinction consists in that demo accounts can be opened without any investments, though one cannot count on any profit from them.

Opening of a demo account #

A demo account can be opened by the "file – open an account" menu command or by the same command of the "navigator – accounts" window context menu. Besides, the terminal will offer to open a demo account at the first program start to begin working immediately.

The process of opening an account consists of several steps:

Selecting server

The first stage of account opening is selection of a server to connect to. Addresses of available servers, their names and ping are listed there. The most preferable is the server having the lowest ping. To perform additional checking the ping, you should press the "scan" button. After that the ping information becomes refreshed.

Also in this window you can add a new server to connect to. To do it, press the " add new server" button or the "insert" key. A server can be specified in different ways:

Write its address and port separated with a colon. For example, 192.168.0.100:443;

Write its domain name and port separated with a colon. For example, mt.Company.Com:443;

Write an accurate name of a brokerage company.

As soon as you specify a server, press "enter". To delete a server, select it and press the "delete" key.

Account type #

At this stage a user can specify details of an existing trade account or start creating a new one.

This window contains three options:

Existing trade account – if this option is chosen, it is necessary to fill out the "login" and "password" fields with the corresponding account details. A server selected at the previous step is displayed below these fields. You will be authorized at the specified server using the specified account as soon as you press the "done" button.

New demo account – if you choose this option and press the "next" button, you will go to the creation of a new demo account.

New real account – if you choose this option you will pass to specifying personal details for sending a request to open a real account.

Personal details

The next stage of opening an account is specifying personal details:

The following data will be requested to open an account:

Name – the user's full name.

E-mail – email address.

Phone – contact telephone number.

Account type – account type to be selected from the list defined by the brokerage company.

Deposit – the amount of the initial deposit in terms of the basic currency. The minimum amount is 10 units of the specified currency.

Currency – the basic currency of the deposit to be set automatically depending on the account type selected.

Leverage – the ratio between the borrowed and owned funds for trading.

To activate the "next" button and continue registration, it is necessary to flag "I agree to subscribe to your newsletters".

After the registration has successfully completed, a window will appear that contains information about the open account: "login" – the account number, "password" – the password for access, "investor" – the investor's password (connection mode in which it is possible to check the account status, analyze the price dynamics, etc., but no trading is allowed).

After registration has been completed, the new account will appear in the "navigator – accounts" window, and it is ready to work with. At that, the server sends a message to the terminal containing login and passwords of this newly opened account. This message can be found in the "terminal – mailbox" window. Besides, after the account has been successfully registered, it will be authorized automatically.

Attention: if any problems occur at the account opening, technical support service of the brokerage company should be asked for help.

Opening of a real account #

Real accounts, unlike demo accounts, cannot be opened from the terminal. They can only be opened by brokerage companies under certain terms and conditions. Real accounts are marked correspondingly in the "navigator – accounts" window. To start working with them, one must perform authorization.

How to add funds to MT4 demo account on IG index

Asked by krooto,
april 30, 2020

Question

Krooto 0

Krooto

I have ran my demo account down to almost £0 and as such cannot test any more expert advisors. How do I add funds to my demo account so that I can continue testing my eas?

I have tried creating a new account so that I can get a fresh £10k of demo money, but the account was locked as the server recognised that I already have an account. Any other suggestions are welcome.

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What is metatrader 4 and how do you use it?

Metatrader4 (MT4) is a popular online trading platform that can be used to automate your trading. Its simple user interface gives you access to advanced technical analysis and flexible trading systems. Here’s a guide on what metatrader 4 is, and how to use it.

Call +61 3 9860 1799 or email helpdesk.En@ig.Com to talk about opening a trading account. We’re here 24 hours a day, from 8am saturday to 10pm friday (UK time).

What is MT4?

Metatrader 4 (MT4) is a trading platform developed by metaquotes in 2005. Although it is most commonly associated with forex trading, metatrader 4 can be used to trade a range of markets including forex, indices, cryptocurrencies, and commodities, via cfds.

MT4 is extremely popular due to the fact that it is highly customisable to your individual trading preferences. It can also be used to automate your trading, using algorithms which open and close trades on your behalf according to a list of set parameters.

How do you use MT4?

Below is a step-by-step guide on how to access and use MT4 with IG.

Create an account

To use IG’s MT4 offering, you’ll first need to create a live IG account. Once you’ve done that, you can set up a live MT4 account from the my IG dashboard. There’s more instructions on how to do this on our download MT4 page.

Download MT4

After creating an account, you can download MT4 to your chosen device. Once you have downloaded MT4, you can log in with your IG credentials.

Open a position

Using the order window when you’re ready to place a trade, go to ‘tools’ and click ‘new order’. This will bring up the ‘order’ window. Alternatively, you can press F9 on your keyboard.

Once you’ve done that, you’ll be presented with the order window.

While the order window can seem daunting at first, here’s a quick guide to all the components:

Symbol – this drop-down menu allows you to select which market you would like to trade

Volume – for a CFD account this is the number of contracts you would like to trade

Stop loss – if you want to use a stop to close the trade if it moves against you, enter your desired level here. Stops on MT4 are equivalent to basic stops on the IG platform

Take profit – if you want to use a limit to lock in profits, enter your desired level here

Comment – a small space to leave a comment about a particular trade; or for more advanced trade-management purposes

Type – choose ‘instant execution’ if you want to place your trade the moment you select either ‘buy’ or ‘sell’. Alternatively, select ‘pending order’ if you want to choose the level at which your trade opens

Depending on what type of trade you are placing, you’ll then be faced with the following options:

Instant execution

Enable maximum deviation from the quoted price – trades can sometimes be rejected if prices move suddenly as you place them. If you would still want to place the trade within a certain price range, check the box and fill out the ‘maximum deviation’ in pips (from the current price) that you would be willing to accept

Buy or sell – when you’re ready to place your trade, click ‘buy’ if you think the market will rise in value, or ‘sell’ if you think it will fall. This will place your trade

Pending order

Type – choose the type of order you want to place, from ‘buy limit’, ‘sell limit’, ‘buy stop’ and ‘sell stop’. Discover the difference between stop and limit orders

At price – select the price level at which you want your order to be triggered (note: for some order types you will be dealt at market level, irrespective of whether your chosen level is breached)

Expiry – check this box to specify a date and time for your order to expire if the market does not reach your ‘at price’

Place – click this button when you are ready to place your order

Monitor and close your positions and pending orders

To monitor your open positions and pending orders open the ‘terminal’ window by pressing ctrl + T, or by clicking ‘view’ in the toolbar and selecting ‘terminal’. Next, navigate to the ‘trade’ tab. You can close a position or delete a pending order by clicking the small ‘x’ on the far right of the profit column.

Modify stops and limits on open positions

To modify stops or limits on open positions and pending orders, open the ‘terminal’ window (ctrl + T) and navigate to the ‘trade’ tab. Right click on the position or pending order you’d like to edit, then select ‘modify or delete order’ to bring up the order window.

You will then have the option to modify or add stops and limits to your position. When you are finished, click the red ‘modify’ button to confirm your changes.

Customise MT4 charts

MT4 offers a range of tools you can use to customise charts. Here’s how to:

Draw on charts

MT4 includes a number of ‘objects’ you can use to draw on charts. From left to right on the below image:

Cursor

Crosshair

Draw vertical line

Draw horizontal line

Draw trendline

Draw equidistant channel

Draw fibonacci retracement

Draw text

Draw text label

Arrows

To draw, simply select the object you want from the toolbar and click on the chart. The width and positioning of some objects is adjusted by moving your mouse as you click on the chart, while others open a separate window for customisation.

To edit or remove an object, right click on the chart then select ‘objects list’ from the menu. This will open a window that displays a list of all the active objects shown on the chart. Select your chosen object from the list then click ‘edit’ to customise the indicator settings or ‘delete’ to remove

Add indicators

You can add indicators such as RSI, stochastic oscillator and bollinger bands to charts. Simply drag your chosen indicator from the ‘navigator’ window and drop it on top of a chart. This will usually open a window, where you can customise how the indicator is displayed.

Alternatively, you can add indicators to a selected price chart using the menu bar. Click ‘insert’ then ‘indicators’ and choose your chosen indicator from the drop-down menu.

To edit or remove an indicator that is displaying on a chart, right click within the chart window then select ‘indicators list’ from the menu. This will open a window that displays a list of all the active indicators shown on the chart. Select your chosen indicator from the list then click ‘edit’ to customise the indicator settings or ‘delete’ to remove.

Change timeframe

To change the timeframe of a price chart, simply right click on the chart, select ‘timeframe’, then choose your preferred option from the drop-down menu. Timeframes range from one minute to monthly.

You can also change the timeframe of a selected price chart using toolbar buttons. From left to right:

How do i deposit money into my metatrader4

I'm lost trying to transfer money into mt4 to get started trading? Where do I go? What do I click on? Totally lost. I don't even see where to find the account information to know where to send it?

Thanks to anybody out there for reading this and helping

You don't! Metaquotes is not a broker, just a software development company.

You have to first find a broker that offers MT4 as one of its trading platforms and setup a user account with that broker.

Once you have setup a user account (which usually needs ID documentation and signing of other agreements), you can then activate a real MT4 trading account (depending on the type of accounts they offer) and transfer your funds as instructed by the broker.

The broker's website usually has instructions on how this whole process is carried out, so make sure to read all the documentation and faqs.

Also, make sure to choose you broker wisely!

I'm lost trying to transfer money into mt4 to get started trading? Where do I go? What do I click on? Totally lost. I don't even see where to find the account information to know where to send it?

Thanks to anybody out there for reading this and helping

Ok I think I have done that through tradeking forex. I have the mt4 downloaded and the balance is at 0. How do I make my money appear on mt4. Sorry if these are dumb questions

I already answered you! You have to deal with your broker, not here! Contact your broker or read their "support" instructions on their website on "account funding"!

Also, you have to download MT4 from their site, not from here!

Ok I think I have done that through tradeking forex. I have the mt4 downloaded and the balance is at 0. How do I make my money appear on mt4. Sorry if these are dumb questions

I think what you need is FILE -> log into trade account. However as fernando said, they should have a copy of MT4 configured for your use that you can download.

You transfer the money to the broker via their website (you log into your account on their website and it should tell you how to deposit funds.

I think what you need is FILE -> log into trade account. However as fernando said, they should have a copy of MT4 configured for your use that you can download.

You transfer the money to the broker via their website (you log into your account on their website and it should tell you how to deposit funds.

Forum on trading, automated trading systems and testing trading strategies

How do i deposit money into my metatrader4

Fernando carreiro, 2017.01.12 03:20

You don't! Metaquotes is not a broker, just a software development company.

You have to first find a broker that offers MT4 as one of its trading platforms and setup a user account with that broker.

The broker's website usually has instructions on how this whole process is carried out, so make sure to read all the documentation and faqs.

Also, make sure to choose you broker wisely!

How to install indicators on MT4 [beginners’ guide]

How to install indicators on MT4 is very relevant to all traders as it allows them to configure analytical tools to point existing or developing market trends. Seeing those trends early gives a trader the ability to estimate where the market is going to go next and take a trading position accordingly. It’s not magical like a crystal ball. The indicators take extensive statistics and probability and visualize them on easy to read add-ons to your MT4 charts.

Installing indicators on MT4 comes down to:

Downloading the files (.Ex4 and .Mq4 formats)

Placing them in the MT4 “indicators” data folder

Closing and re-starting your MT4 terminal

Dragging you indicator from the navigator to the forex chart

This guide will teach you how to install indicators on MT4 and add them to your charts.

How to install indicators on MT4

Note: this guide assumes that you have already downloaded and installed metatrader 4. If this is not your case, we suggest that you check our article on how to use metatrader 4.

Before getting into the details, it is important to clarify that there are two main types of MT4 indicators:

Built-in MT4 indicators: this group includes pre-installed indicators like moving averages, MACD, ATR, RSI, among others.

Custom MT4 indicators: are programs developed independently in MQL4 and they aren’t part of the standard MT4 installation package.

For built-in MT4 indicators, you won’t need to worry about their installation, since in the process of installing MT4 you should see that the indicators files will be downloaded and installed as well.

Moreover, after you complete the MT4 installation, make sure to check the indicators directory in the navigator window of your MT4 terminal:

program independently developed in MetaQuotes Language 4 by the user and functioning as a technical indicator

However, if you need to modify or you want to remove one of the built-in indicators, you can always follow these steps to access the files in your computer:

Go to your file tab and move down the menu to the “open data folder” selection, this will trigger a new screen.

Then, you can navigate to the folder that says “ MQL4 ”. In that folder, you will find the next subfolder named “indicators”.

After that, you will see the list of all the MT4 indicators files that were pre-installed on your computer. Also, you will notice that all of them come with a couple of files in .Ex4 and .Mq4, which are the valid formats of MT4 indicators.

If you perform any changes, you will need to restart your MT4 platform as well.

Check the indicators directory in the navigation window to verify the changes.

How to install custom indicators on MT4

On the other side, custom indicators work a bit differently as they are specialized tools or analytical add-ons that experienced traders have been building and creating for different purposes. They tend to be for isolated and very specific scenarios versus general market trend tracking.

Installing MT4 custom indicators is not difficult, we will illustrate this process with one of our favorite custom indicators, the forex dashboard multiple timeframe indicator for MT4.

You can get the forex dashboard custom indicator here so you can follow through the steps described below:

Download and prepare the MT4 indicator file(s) so they are ready to go on your computer.

For instance, we have downloaded and saved them in a new folder. Please note that some custom indicators will come in a .Rar file, so make sure to extract the .Ex4 and .Mq4 files:

Then, go back to your metatrader 4 platform, click the file tab and select “open data folder” to get access to the system folders for the MT4 program:

Again, go to the “ MQL4 ” folder and the “indicator” subfolder:

Just like generic indicators, you will need to open the “indicators” subfolder:

after that, you can drag or copy and paste the custom indicators files to the “indicators” subfolder:

Close all the folder windows and restart the MT4 program. When MT4 loads again, you should see your custom indicator added to the directory in the navigation window:

How to add MT4 indicators to your charts

It’s time to give your MT4 indicators a try. Go into your MT4 program and choose a currency pair chart.

Next, go to the navigation window and scroll down the menu to “indicators”, pick the one you want to use and drag it to your chart.

Note that some indicators might require some inputs to configure their use:

Custom indicators

To add a custom indicator to a chart, go to the navigator window and look for the custom indicator that you have previously installed. In this case, we will look for the forex dashboard custom indicator.

Then, you can left-click it and drag it to your chart.

Wrapping it all up

The beauty of MT4 is that it comes full of trading tools like indicators, all of which can be customized for how you as a trader want to view the market. And because the charts are designed for maximum translation, even beginners can figure out what a trend indication means in a matter of minutes.

You can use different forex indicators MT4 to analyze the market behavior and asses your trades . Find your mix that works best, get comfortable, and learn to make MT4 work for you. Each tool added gives you another window and perspective of the forex or market data you’re analyzing. And you may very well see a new combination advantage that nobody is picking up on yet doing so. It’s all about continued learning, after all.

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How to install metatrader multiple accounts?

Simple ways to install multiple MT4 accounts on the same computer

Trading is now very much popular. Due to some advanced tools and proper guidance, people can easily trade and earn money as much as they want. Trading is now a new way of investment for our generation. We all know that metatrader 4 or MT4 is known as a widely accepted and used electronic trading platform. Metatrader 4 platform was established in the year 2005. After that, it has gained so much popularity among traders. Now the good news is that traders can open and handle multiple accounts from one computer or VPS. It is now much simpler than you have thought before. So, it is important to know how to open and handle multiple MT4 accounts on the same computer if you want to do it on your own. It would help if you learned how to do it.

There are two ways how to install multiple MT4 accounts and manage them on a single computer. The first method is the free method, where traders can install the same MT4 terminal several times on the same computer. The second method is the paid method, where traders can install a multi-terminal version.

In this method, you can easily open two, three, or more numbers of accounts from your one computer. Not only this but now you can log in to various accounts and trade from all of these. You do not need to face any obstructions to do that. So, now it is simple and hassle-free. You do not need to log in and log out again and again from one account and another. So, now you can stay live from all of your accounts at one time. You can trade effortlessly from your real and dummy accounts as well. So, as you can see, METATRADER MULTIPLE ACCOUNTS offer you a blissful and advanced experience of trading.

Apart from this, you can now open identical trades on all MT4 accounts at one single time. So, now you can manage all of your MT4 accounts and hold your position in various MT4 accounts. The same broker will not be a problem in this case.

WHY DO YOU NEED TO INSTALL VARIOUS MT4 PLATFORMS ON YOUR SINGLE COMPUTER?

Now you are thinking, why do you need to install multiple MT4 accounts on your one PC. There are two main reasons for which a forex trader needs to install multiple MT4 accounts. So, here are two reasons, such as follows:

1. The first and primary reason is that the traders can sign in to different accounts simultaneously. It is, of course, a big benefit. In the past, you can sign in to one MT4 account from the same and indifferent broker. So, you can install more MT4 terminals on your PC. After that, you can log in to different accounts at a single time.

2. The second one is also valuable and essential. You can copy forex trading options between various metatrader accounts as you may hear that copying trade is very much well-known among forex traders.

Apart from this, you can get one more benefit from opening multiple accounts. You can get valuable advice from the experts. So, if you have multiple MT4 accounts, you will have to run so many strategy testers simultaneously.

ADVANTAGES OF INSTALLING MULTIPLE PLATFORMS:

There are so many advantages of installing multiple MT4 platforms. Here are some of these:

* the main goal of this particular set up is to spread memory usage and improve each MT4 platform or account’s performance.
* you can organize the whole thing about trading very simply and smartly.
* now, you can trade from multiple accounts at the same time.
* this is now a hassle-free process.

Now, you may think about how to install it on your computer. You should know that the process is very much simple.

THE INSTALLATION PROCESS OF VARIOUS ACCOUNTS ON A SINGLE COMPUTER:

If you want to install various MT4 terminals on a single computer, you should know that it is straightforward and easy. All you need to do is repeat the same process of installing one MT4 platform. But in the case of various account installation, you will have to choose various and different locations for the installation process. This is a smart trick to install METATRADER MULTIPLE ACCOUNTS on a single computer and trade from all of these without any obligations. By following this smart method, you can install various MT4 platforms from the same or various brokers.

So, as you proceed to install second and third terminals or so, all you need to do is change the location to a different and unique folder. So, in this way, the location will be changed. You can name the folder differently. You can change the last number of the name in the folder. Apart from this, you need to install different files in different folders as well. You can select any names you want to use, but each name should be unique.

So, while you are going to run the installed MT4, you will have to change the installation’s destination folder. You will get the setting button, and after that, you will get the next and cancel button. So, while you will click on the setting button, you can change the MT4 destination folder.

THE FAST AND EASY WAY TO INSTALL VARIOUS MT4 TERMINALS:

After installing one MT4 terminal, you can copy and paste the command. For this, you can use CTRL+C and CTRL+V from your keyboard to complete the copy and paste process. After installing multiple MT4 terminals, it is high time to run each and separate terminal differently and individually. So, for this process, you need to start an account for every platform.

With the MT4, you can get a clean and clear feature. You need to enter the name of the broker. You will get this easily.

HOW MANY MT4 PLATFORMS YOU CAN RUN ON YOUR COMPUTER?

There is no limit to the number of your MT4 platforms. You can install and run one, two, three, or more MT4 terminals on your single PC. You can run 4 to 6 platforms at a single time from your single PC. So, as you can see, you will be able to run multiple MT4 terminals from a single device. You should be able to handle multiple accounts without any hassle.

Install metatrader multiple accounts using multi-terminal software version

The metatrader 4(MT4), metatrader 5(MT5) software has a trade tools FX (TTFX) multi-terminal version, which allows investors to trade on metatrader multiple accounts using a single computer. This version is preferred by money managers or regulated institutions managing the account for a large number of clients. This version of the software provides all the features of MT4/MT5, allowing the user to place or edit orders. The user can also limit the orders and decide the closing position. Depending on their financial goals, the clients have specified different trading strategies for each account. The money manages each account based on the instructions from the client.

Multi-account terminal security

The software for the multi-account terminal is using 256-bit encryption technology for greater security. This ensures that the trading account and trading data in real-time is secure, remains confidential, and is not tampered with. The financial/trading data is also synchronized with information on TTFX client devices. The computer, mobile version of the software can be used on the client devices. This allows the account managers to check the status of the account anywhere they wish and trade, placing orders for different forex accounts simultaneously.

The multi-account terminal interface is similar to that used in a terminal for metatrader 4 or metatrader 5. This makes it easy for traders who have already used MT4/MT5 to switch to the multi-account version for trading for clients. The platform is widely used by professional traders, asset managers, and money managers to access, monitor, and trade for multiple accounts. They can group the different accounts which they are managing for convenient trading. The trader or manager can also specify different sizes for the trading in each account he is managing.

The trader can trade in each account, which is part of the group and monitors the account’s activity. It can be used for taking a printout of the statement and equity for the client. The account manager can execute any market order, stop order, limit order using one click. The execution speed for the orders on these platforms will be similar to single account terminals. The TTFX terminal also has advanced features for customization. These features allow the manager to trade in the forex or other market using the interface in multiple languages.

Multi-account terminal advantages

Some of the TTFX terminal advantages are complete control over methods used for allocation, managing the sub-accounts in real-time, and a full trading log is available. Incorporating an expert advisor is also possible. The administrator can control all accounts, manage the open and close positions and allocations. A complete log of the user’s activities is available, along with access to the full report. There is no limit to the number of trading accounts which can be opened. All trading activity can be managed in real-time. In addition to foreign exchange (FX), traders can also trade in metals and cfds. Different types of trading strategies like hedging, scalping, news trading are allowed, with system alerts, trading, trending events, fast news provided so that the trader can take the right decision accordingly. It also includes an internal mailing system

Have you heard of the amazing chaikin money flow indicator for MT4?

Introduction

The chaikin money flow (CMF) indicator was developed by marc chaikin. This indicator measures the amount of money flow over a specific period. It also determines if the security is under accumulation or distribution, by comparing the closing price to the high and low price of the trading session. Moreover, it measures the momentum of the market, under the idea that price always follows volume.

The CMF fluctuates between the -1 and +1 level. It moves above/below the zero lines, just like an oscillator. It measures the bullish and bearish pressure for a given period. Chartists use the crossover above or below the zero lines to identify the bullishness or bearishness in the trend. When the indicator moves into the positive territory, it indicates a buying pressure, and when it moves into the negative territory, it indicates selling pressure.

This indicator is not developed to use it as a trading system. Instead, it is built to use it as a tool which helps to identify the trend of the market. If the security closes near the high of the day with increased volume, then the indicator increases by value. Conversely, if the asset closes near the low or below the recent low of the day with increased volume, then the indicator decreases by value.

Installing chaikin money flow indicator in MT4 (step-by-step procedure)

By default, the chaikin money flow is not available in the MT4 terminal, but it is available on the internet. Follow the link below to download the indicator.

Download the zip file from the above link, extract the file and then navigate to the MT4 directory/MQL4 as shown below.

Go to the ‘indicators’ folder and paste the extracted file there.

Restart your MT4 terminal.

Finally, to apply the indicator on your MT4 terminal, follow the step sequence given below.

Insert > indicator > custom > chaikin money flow.

In the below image, the indicator is applied to the CHFJPY chart.

Trading strategies using the chaikin money flow indicator

Strategy 1:

CMF + RSI indicator

In this strategy, we paired the CMF indicator with the RSI indicator.

The CMF measures the amount of money flow in a trading session, whereas RSI is an oscillator which oscillates between 0 to 100 levels. RSI is known as relative strength index. This indicator is quite popular among the traders’ community. That is, it is used by everyone, from retail traders to banks, hedge funds, and professionals.

Buy example

When the CMF indicator goes slightly below the zero lines, it means that the market is in a downtrend. But, if it goes significantly below the zero lines, then the market is considered oversold. On the other hand, when the RSI indicator goes below the 30-level, it means that the indicator is oversold, and one can expect a reversal in the market.

As you can see in the image below, USDJPY was in the pullback phase, where the CMF indicator was way below the zero-line, and the RSI was also at the oversold area. This clearly indicates a buy signal.

The RSI overbought and oversold levels are quite strong levels in the market, so always place your stop-loss below the recent low where the RSI indicator indicated the buy signal.

If the volatility is quite low in the market, then exit the trade at the most recent higher high. However, if you’re trading during the active market hours, especially in US session, then expect a brand new higher high.

Sell example

When the RSI indicator reaches around the 70-level, it implies that the market is overbought. In other words, there is more demand than supply in the market. As a result, the price falls. On the other hand, when the CMF indicator goes significantly above the zero-line and gives a sharp reversal, it implies that the downtrend is going to begin in the market. Therefore, when both the indicators reach the overbought area, then it is a strong signal for us to go short on that particular security.

As you can see in the image below, the NZDJPY forex pair was in a predominant downtrend. During the pullback phase, both the indicators reached the overbought area and gave us a reversal., indicating that the downtrend has come to an end and the market is ready to print brand new lower low.

When we pair an indicator with another indicator, then the signals become quite accurate in the market. If the trend is also super strong, then you can place the stop-loss just above the high of the previous candle. And, when the RSI indicator reaches the oversold area or if the price action starts next pullback then you can exit your trade.

CMF + donchain channels

In this strategy, we paired the CMF indicator with the donchain channels to identify the signals.

Donchain channels is a leading indicator which is similar to bollinger bands. This indicator consists of three lines, which is generated by moving average calculations. It is basically formed by the lower and upper band around the mid-day range.

Buy example

When the donchain channels hit the lower channel, and the CMF indicator also goes below the zero-line giving a sharp reversal later, then we can consider going long.

As you can see in the image below, the AUDNZD forex pair was in a sideways market in the beginning. When the price hits the lower channel, and the CMF indicator also gives us a reversal below the zero-line, it indicates a buy signal in the market.

When the CMF indicator goes above the zero-line and gives us a reversal, then exit your trade.

Always use the recent low for the stop-loss, because none of the strategies is so perfect that it will go your direction as soon as you enter the trade. So, before activating your trade, always decide where you put your stop-loss.

Sell example

For the selling, do the opposite of what is explained for the buy-side. For identifying sell trades, all you need to do is to find out when the donchain channels hits the upper channel, and the CMF indicator gives a reversal above the zero-line. Once this happens, you can prepare to go short.

As you can see in the image below, CHFJPY was coming from a pre-established downtrend. During the pullback phase, the price hits the upper channel, and the CMF also gives a reversal, indicating a perfect sign to sell this pair.

Many traders use the CMF indicator as a standalone indicator to trade in the market. However, we suggest you to always pair the indicator with candlestick patterns, price action or with any other indicator to identify accurate trading signals.

Also, the major problem with the retail traders is that they try so many strategies in the live market without even mastering it in a demo account. Hence, whichever strategy you’re going to try, always test it on a simulator first, and then apply on the live markets.

Conclusion

Chaikin money flow is an oscillator which measures the buying and selling pressure in the market. It is a strength indicator which is affected by the price action and volume of the market. When the indicator is positive, it means that the buyers are strong, and when the indicator is negative, it signifies that there is selling pressure in the market.

Hope you had a good read. Let us know if you have any questions in the comments below. Happy trading!

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How to install ea indicator or script to the mt4 windows mac

The metatrader 4 platform, best known as MT4, is a trading platform that allows to upload custom expert advisors (forex robots or also called automated trading systems), indicators, scripts, and other useful add-ons.

This means that you have two options. If you have some coding experience, you can create what you need in the metaeditor by using the MQL 4 language. But if you have no coding experience at all, you can just download any expert advisor, forex indicator or script that you like, and usually for free (like our top forex indicators here ).

By default, the metatrader 4 provides some standard indicators, but you can add your own by using two different types of files:

.Ex4 - the executable file that can not be modified in order to protect the programmer copyright

from a practical point of view, it does not matter which type of file you have available (usually it is the .Ex4 only without an access to the source code) until you would like to make some changes directly in the source code.

Even if you have the .Mq4 file available, but you have no coding experience, do not worry! After uploading the file correctly to your metatrader 4's root folders, the trading platform will do everything needed for you automatically.

Once you install the .Mq4 file and launch the metatrader 4, the trading platform immediately creates also the .Ex4 executable file, so it will be ready for use like you would install the .Ex4 file.

How to install expert advisors, indicators and scripts (PC - windows version)

The process of installing the expert advisors, indicators or scripts in case of metatrader 4 trading platform running in windows is very easy:

In the upper left corner, choose "file".

Then choose "open data folder".

In the new window, open the "MQL4" folder.

And now we are almost done. Here you can find all the folders you are looking for: experts, indicators, scripts, and others.

If you would like to install an expert advisor, simply paste it to the "experts" folder.

If you would like to install an indicator, simply paste it to the "indicators" folder.

And finally if you would like to install a script, simply paste it to the "scripts" folder.

Once you have copied and inserted all the files you would like to install, you have to restart the metatrader 4 platform.

Viola, you have successfully installed your brand new add-on! Now in the metatrader 4 platform, you can find your new add-on in the navigation panel (that can be opened from the view menu). Simply open an appropriate category (experts, indicators or scripts), and drag your add-on to any chart. And now your customized platform is ready for use!

Mac OS X traders have a little more difficult situation. The author of the metatrader 4 trading platform, metaquotes software corp., still does not offer an official version of the MT4 for mac OS X. Therefore, OS X traders have two options:

virtualized windows operating system - in this case through the virtualization software, you are allowed to install windows on your mac. Usually, it is also possible to run both operating systems in the same time.

however, this is not much practical if you do not have more reasons than only MT4 why you would need to have the whole windows operating system installed. In this case - after installing the windows operating system and MT4 for windows in the usual way, the process of installing eas, indicators and scripts is the same as described above.

virtualized MT4 for OS X - hopefully, most forex brokers offer the complete DMG package of MT4 that you can easily run at your mac. Imagine the package as all files from windows that are required to run the MT4 properly. Do not worry, virtualized MT4 for OS X works steadily and very fast. However, the process of installing your add-ons is little more complex.

There are more possible ways how to install add-ons to your MT4 in case of the virtualized MT4 for OS X. Some of them are very easy (but these seem to work with older OS X versions only).

Now I would like to share with you the tutorial how to install your add-ons that works with the latest OS X versions.

Now copy & paste following command into the terminal (ensure that it is exactly in the same format like below) - in case that you are using OS X 10.9 or later :

defaults write com.Apple.Finder appleshowallfiles -boolean true ; killall finder

And if you are running OS X 10.8 or earlier , use following command instead:

Defaults write com.Apple.Finder appleshowallfiles TRUE ; killall finder

Hit "enter". Now all hidden files and folders in your mac are visible (and finder is restarted as well so no need to do this manually anymore to see the hidden files and folders).

Go to the spotlight search again and type in the name of your profile / computer. Your mac should now find your home folder (you will recognize that by the home icon). And hit the enter.

Or you can open "macintosh HD" -> "users" -> "your username".

Open the library folder. As library is a hidden folder in the latest OS X versions, you will most probably have to right-click at the folder and select "open in new tab" to make it work. Or simply double-click the folder if it works for you.

Open the application support folder.

There you should find and open the folder that will be named in the following format "com.Yourbrokername_123456" (the broker name and numbers will vary between various computers).

Then go through following folders: “drive_c” -> “program files” -> “your broker metatrader 4” -> "MQL".

There we go! Now simply copy & paste your add-on to the appropriate folder, restart the MT4 and you are ready to use your add-on at your mac!

Notes :

I would recommend you to make a shortcut of the MQL folder, so you do not have to go through the whole process above every time you would like to add something to your MT4. Simply drag the MQL folder among your "favorites".

If you would like to hide the originally hidden files again, simply run following command in the terminal (in case that you use OS X 10.9 or later ):

Defaults write com.Apple.Finder appleshowallfiles -boolean false ; killall finder

And again, if you are running OS X 10.8 and earlier , use following command instead:

Defaults write com.Apple.Finder appleshowallfiles FALSE ; killall finder

I believe that the tutorial above will help you when trying to install your favorite add-on to your MT4. Now when you know how to do that, you are ready to use our unique forex indicators that you can download and use for free.

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