user, Author at OneRoyal Academy

What timeframes are available on the Chart?

MT4 has the following chart timeframes: 1, 5, 15, and 30 Minutes, as well as One Hour, Four Hours, Daily, Weekly, and Monthly. To change the timeframe, you can either right-click on the chart and choose from the tab labelled ‘Periodicity’, or select one of the period buttons on the

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Why do I see only one price on the Chart?

The price you see is the Bid. For the chart to show the Ask price instead, right-click on the chart and select ‘Properties’. Click on the ‘Common’ tab, then select ‘Show Ask Line’, and then

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How can I remove an indicator from the Chart?

Right-click anywhere on the chart, select ‘Indicators List’, select the indicator you want to delete, and then click on the ‘Delete’

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Where will I find my EA on the MT4 platform?

All EAs are visible in the ‘Navigator’ window on the left-hand side of the MT4 platform. Click on the ‘Expert Advisors’ drop-down menu and then click on the ‘+’ icon to expand the selection and view the full list of available EAs. You can then drag and drop the one you want to the chart of your

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How can I add custom indicators or EAs to MT4?

Open MT4, go to File>Open Data Folder, then select MQL4>’Experts’ or ‘Indicators’, and paste your MQL4/EX4 file in this folder. When you reopen the platform you should now see your custom EA/Indicator in the Navigator window. You can drag and drop it to the chart(s) of your choice. You can find custom EAs and Indicators on the MQL5

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How is Margin calculated on MT4?

The formula is as follows: Lots x Contract Size x Margin%, or, (Lots x Contract Size) / Leverage You can find all Contract Sizes, by right-clicking on any Symbol through MT4’s market watch and then ‘Specification’ Important Note: Margin is always denominated in the Base Currency Symbol Base Currency Quote Currency EURUSD EUR USD USDJPY USD JPY GBPUSD GBP USD Examples: If you wish to Buy 1 lot on EURUSD with a margin percentage of 0.2%, then: Margin Requirement = 1 (Lot) x 100,000 (Contract Size) x 0.2% =200 EUR If you wish to Buy 1 lot on USDJPY with a leverage of 1:500, then: Margin Requirement = 1 (Lot) x 100,000 (Contract Size) / 500 =200 USD The final amount depends on your account’s currency. If your account is in a different currency than the base currency of your traded instrument, then a conversion will happen to reflect the appropriate

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How do I find the contract size through MT4?

On MT4, right-click on Market Watch -> choose any Symbol, and click on Specification Once done, a window will pop-up showing all relevant information about the selected symbol. The Contract Size shows how many units/contracts will be opened per 1 lot

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Why is the ‘Modify’ button disabled when I try to set SL/TP for an existing order?

This may be because you have placed your stop-loss or take-profit levels too close to the current market price. Alternatively, it may mean that you have set these levels on the wrong side of the current price. Please note that for short positions (sell orders), stop-losses must be set higher than the current market price, and take-profit levels must be set lower than the current market

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How do I modify or delete a pending order on MT4?

First, locate the order in the MT4 ‘Terminal’ window at the bottom of your MT4 screen. Open orders appear above your account details, while orders that haven’t yet been executed appear below them. Right-click on the order you wish to modify or delete and select ‘Modify or Delete Order’ . Alternatively, you can double-click on the order to bring up the ‘Order’ window. From the ‘Order’ window, you may change the price at which the order is triggered, re-set the expiry date of the order, set stop-loss and take-profit levels or delete the

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How do I place a pending order on MT4?

A pending order is an instruction to open a position when an instrument reaches a certain price pre-defined by you. You can place a pending order via the main ‘Order’ window. Simply change the ‘Type’ from ‘Market Execution’ to ‘Pending Order’. A drop-down menu will then appear that will allow you to specify whether the pending order you are about to place is a Buy Limit, Sell Limit, Buy Stop, or a Sell Stop Order. It will also allow you to set a limit price and expiry date and time. Bear in mind that Buy stops & Sell limits must be placed above the current market price while Sell stops and Buy limits must be placed below the current market

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