Meta Trader 5 User Manual

Meta Trader 5 User Manual

1. INSTALLATION AND INTRODUCTION TO THE PLATFORM

2. MENU ITEMS

Right-click on Meta Trader 5 application you downloaded and start the installation with the option ‘run as an administrator’ and follow the installation steps.

You must first enter your account information when the platform is opened. If you are a live account holder, select “connect with an existing trade account” and if you are going to use a demo account, select “open a demo account to trade virtual money without risk”.

If you have an account, type your account number in the “login” box, type your password in the “password” section and click ‘OK’ (File>Login To Trade Account).

If you are opening a new demo account, you should follow ’Open an Account' steps in 'File' menu.

When you open Meta Trader 5, the menu titles appear on the top of the screen.

2.1.8. Print: It allows you to print your work on the screen. 2.1.9. Open an Account: It is used to open a new demo account.

2.1.10 Login to Trade Account: You can login to with your existing account information. 2.1.11. Login to Web Trader: Opens Meta Trader 5 platform in browser.

2.1.11. Login to MQL5.community: Redirects you to the developer company's website. 2.1.13. Exit: Closes MT5 Platform.

2.1.1. New Chart: You can add a new chart to the

chart area.

2.1.2. Open Deleted: You can reopen any chart you have

already closed.

2.1.3. Profiles: You can specify different screens for

differ-ent instrumdiffer-ents and save your profile, so you can easily switch between the screens you save.

2.1.4. Close: Closes the chart but does not close your open

positions and pending orders.

2.1.5 Save: Saves the prices in the selected time zone for

the chart on the screen.

2.1.6. Save as picture: Saves the chart open on the screen

as a picture to your storage.

2.1.7. Open Data Folder: You can use it to open the data you

previously saved.

This menu includes tabs that allow you to personalize the appearance of the Meta Trader 5 trading platform.

2.2.1. Languages: You can select your preferred language

from this tab, but you need to turn off and restart the platform for the language to become active.

2.2.2 Toolbars: Located in the top band of the screen. You

can customize the toolbars developed for your use of the platform and charts.

2.2.3. Status Bar: Allows you to see functions such as user

name, connection status at the bottom of the screen.

2.2.4. Charts Bar: It is the row at the bottom that allows you

to switch between multiple open charts.

2.2.5. Data Window: When opened, a window appears and

gives information to you when you drag the mouse cursor to any point on the chart.

2.2.6. Strategy Tester: Opens up the space needed to test

platform-compatible software.

This tab contains technical analysis tools that enable you to work on the chart.

2.4.1. Depth Of Market: Shows the buyer and seller levels

according to the price levels of the instruments on MT5 platform.

2.4.2. Indicator List: Shows you the indicators or indicator

groups you placed on the chart.

2.4.3. Objects: You can access a list of all the shapes you

created in the chart area.

2.4.4. Bar Chart, Candlesticks, Line Chart: It is the button to

choose which way you want to follow the prices on the chart you have selected.

2.4.5. Timeframes: You can choose in which timeframe you

will display the chart you selected. These are as follows: M1: 1 min. M5: 5 mins. M30: 30 mins. It continues as H1: 1 hour, D1: 1 day, W1: 1 week.

2.4.6. Templates: An option where you can place templates

that are ready on the chart, or you can save your own work and use them on other charts.

2.4.7. Grid: Horizontal and vertical grid lines. This option

allows you to remove the built-in grid when you first open it on the chart.

2.4.8. Auto Scroll: It allows the chart to move as the prices

2.5.4 Options: You can change your password,

connect to mobile platforms and customize the general features of the platform.

2.5.1. New Order: This tab leads you to Buy/Sell panel. 2.5.2. MetaQuotes Language Editor: You can run the

Editor added in order to make you develop appli-cations with MetaQuotes software language.

2.5.3. Global Variables: The section stores the shared

variables. The information herein may be created by an EA or a user.

In Window, you can set how the graphics on your screen will be placed, and you can open a new window.

2.6.1. Tile Windows: Tiles open windows to fit on your

screen in an equal size.

2.6.2. Cascade: Allows the charts to be placed on

one another.

2.6.3. Tile Horizontally: The open charts are tiled from

right to left.

2.6.4. Tile Vertically: The open charts are tiled top to

bottom.

2.4.9. Chart Shift: Allows the last prices for the

select-ed chart to move from the middle of the chart, not from the right hand side.

2.4.10 Volumes: Shows the volumes of the prices on

the chart.

2.4.11. Tick Volumes: Volumes formed are displayed

in the form of a tick chart.

2.4.12. Zoom In: You can zoom in and follow the bars

closely.

2.4.13. Zoom Out: You can zoom out and follow the

bars in a well-rounded perspective.

2.4.14. Properties: This is the area where you can

customize details and color schemes of the charts.

2.6.5. Arrange Icons: You can minimize chart windows. In this case,

you can align the icons on your screen with the grid line by clicking 'Arrange Icons' button.

2.6.6. Resolution: You can adjust the resolution according to the

screen sizes of your computer.

In this menu you will find various information about MT5 trading platform. You can also find links in the application markets in mobile trading platforms.

The market watch shows a list of all instruments to be traded. In this list, you can execute your orders quickly by right-clicking on an instrument you choose.

When you double - click on the pair to trade, the Buy/Sell box opens. You can “buy” or “sell” on this screen.

You can see all your accounts in detail on the Navigator screen. You can access indicators, Expert Advisors and scripts.

C.1. AutoTrading

If you want to use an autotrading system on the MetaTrader 5 platform, you can choose from the “Expert Advisors” tab in the Navigator.

C.2. Script

You can see the scripts you downloaded or add new ones from the Scripts button in the Navigator

A) MARKET WATCH

B) BUY/SELL PANEL

D) TERMINAL

Terminal consists of several tabs. It allows you to keep track of your transactions, account history, and analysis in your mailbox.

D.1. Balance: Total sum of open positions excluding profit or loss. D.2. Equity: Total sum of open positions including profit or loss. D.3. Margin: It is the margin used for your current positions. D.4. Free Margin: Available margin you have for new positions. D.5. Margin Level: The ratio of the total asset amount to margin.

D.6. Trade: You will find information such as the opening price of your open positions, profit loss status,

take profit/stop loss levels and amount.

D.7. Exposure: You can view the risk distribution of your open positions on this tab. D.8. History: Shows a summary of your earlier positions.

D.9. News: You can follow all the political & macroeconomic developments in global markets. D.10.Mailbox: You can view the messages we sent to you.

D.11. Calendar: You can keep track of all the economic data flow that will be published during the day. D.12. Market: It is the tab where you can purchase expert advisors according to your preference. D.13. Journal: You can keep track of the technical record of your actions on your platform here.

Buy Stop: It is sending a buy order at a price even higher

than the price of the asset being traded at that moment. The aim is to automatically catch the sudden move-ments and the expectation that the rises will gain further momentum when they exceed the level determined by the investor.

Example: The current price of X product is $ 9 900, it has

encountered resistance many times at $ 10 000 and retreated. As a result of your analysis, you believe that there will be more aggressive upward pricing when it exceeds this level. In this case, for example, you can give Buy Stop order at $ 10 200 and catch the sudden rise.

Buy Limit: It is a type of pre-entered order for automatic

purchase in case the market price reaches a lower level than desired.

Example: Let's assume an X product moving within the

ascending channel. A number of developments are caus-ing retreats in X product, but there is no change in macroe-conomic data. You think that these movements are artificial and X product will rise after these developments, but downward price movements continue. If you antici-pate that the current price of the product, which is 60 USD, will move towards the lower band of the channel, which is 58 USD, you can give a Buy Limit order to automatically get long position when the price reaches this level.

Types of Orders

Sell Stop: It is sending a sell order at a price even lower than

the price of the asset being traded at that moment. The aim is to automatically catch the sudden movements and the expectation that the decline will gain further momen-tum when they break the level determined by the investor.

Example: X product, with a current price of $ 1200 faced

support at $ 1000 many times and couldn't go deeper. As a result of your analysis, you think that moves below $ 1000 support level will trigger strong downward movements. For example, you can catch instant downward movements by giving a Sell Stop order for $ 900 located below $ 1000 level.

Sell Limit: An automatic sell order given when the market

price reaches the desired high level.

Example: X product, with a current price of $ 5000, is

perform-ing upward movements, but your analysis indicates that these movement lost momentum and you will observe profit realizations when it reaches a certain level. For exam-ple, if you consider $ 5100 level to be an important resistance and think that profit sales will be observed when prices reach this level, you can sell automatically by giving a Sell Limit order for $ 5100 resistance level.

Stop Loss: The order to close the opened transaction

when it reaches a certain loss.

Example: There is a currency pair with the price of 6.15. You

opened a long position and as a result of your analysis 6.00 is an important support level, and additionally, when the price reaches this level, you observe purchases in response. But on the other hand, you think that if there are permanent movements below this level, downward movements may gain momentum and cause huge losses. To avoid this situation automatically, you can minimize potential losses in the future by giving a Stop Loss order below 6.00 support level at a rate of your own, for example, at 5.90.

Trailing Stop: It is used to increase the predetermined stop

loss order as the price of a product increases.

Example: It works according to the Stop Loss order. In the

example of the Stop Loss order type, we placed the stop loss order at 5.90 for the pair, price of which is 6.15. Our loss could be 250 pips. On the other hand, you want the position you open to get closed when it makes profit, before making any losses. For instance, the price increased from 6.15 to 6.65. In this case, when you gave a 250-pip Trailing Stop order, your position will be closed and your profit will not be lost if the price decreases below 6.40 level. And with each upward movement with 250 pips, your order moves up, increasing your guaran-teed profits gradually.

Take Profit: This is the order to close the opened

transac-tion when it reaches a predetermined profit level.

Example: You opened a long position at 5.50. As a result of

your analysis, you predict that the pair will face with a resistance at 5.70 price level and here, you will probably observe take profit sales. At the same time, there is a reasonable return for you and you want to close the position and realize your profit at this level. In this case, if you give a Take Profit order at 5.70 level in advance, the system will automatically close the position for you when the prices reach this level.