Options Settings in Tools Menu in MetaTrader 5 Software/Platform

Options setting button is used for a variety of numerous different tasks on the MT5. Options button is listed within the tools menu in MT5 just as is displayed below. Short-cut key for this - Ctrl+O.

MT5 Options Settings

As shown below, various MT5 buttons are displayed as tabs in the software. To edit settings, simply click on any of the MT5 buttons and make adjustments directly within the specified window.

Server

Here are the server settings for MetaTrader 5. You can make changes here, but usually you don't have to because these settings are already set up by your broker to match their server, so you don't need to change them. But, just so you know, the Server section shows your broker's server, whether it's a practice demo or a real one. Your MT5 account password will also be shown below, and if you trade btcusd, you can change your password here for demo accounts, but remember to save any changes you make.

Additional options include enabling a proxy server, although this is not mandatory. Keeping personal information at startup is checked by default, ensuring that the software automatically remembers your login credentials, thus eliminating the need to enter them each time you access your platform. Enabling the DDE server is not necessary, while the option to enable news is selected, allowing you to receive real-time news updates on your MT5 through the News options found in the Terminal window panel (Shortcut Keys Ctrl+T).

Bitcoin Trading Chart

following are marked and tagged on Charts Options

Show Trade Levels - These lines will show and display levels where the orders were placed, it also will show levels where the pending orders are set. This also will show the TP Bitcoin Order & Stop-Loss Bitcoin Order areas. These trade zones lines are shown as red broken lines marking these areas.

If you don't have a trade open, there will be no level displayed: if you have opened many trades, you will see several lines for these technical levels.

Using the Alt key to drag trade areas is not recommended due to the risk of altering the wrong order if multiple orders are placed: thus, it's prudent to refrain from changing settings to minimize potential losses.

Display O H C L - Show the opening, high, closing, and low Bitcoin prices for each candle.

Show Ask Line - Show the Bid Bitcoin Price, (no need for this)

Show period separators and you'll get a line marking where each day starts and ends on your chart. So, if you're using 5-minute, 15-minute, or 1-hour charts, you'll see a vertical line every time the BTCUSD market closes for the day. On H4 charts, the separator marks the start of a new week: for daily and weekly charts, it marks each new month.

For color prints instead of default black and white, select this choice. Next print will show colors.

Save deleted charts to reopen - Save all charts that are deleted and these can be accessed later at any other time within the software.

Maximum bars for history and charts are limited to conserve system resources like RAM, processor speed, and hard drive space. Using the default optimized settings ensures efficient performance.

Objects

These are:

Option to reveal settings upon creation permits the immediate viewing of an indicator or line tool's configuration right after its placement on the chart, streamlining the process of adjusting its properties.

To select a drawn indicator or line, double-click it. This lets you edit its settings.

Select objects effortlessly with a single mouse click: whether it's a technical indicator or line tool, a single press is sufficient. Avoid double-clicking, as it opens the properties window of the chosen tool.

Magnet Sensitivity - This feature allows for the immediate drawing of a line indicator to the nearest low or high that is within 10 pixels of the selected point. This capability enables lines to be placed accurately at their intended levels without extensive editing, aligning them with the nearest high or low of the Bitcoin price.

Trade

These are the default parameters utilized by the platform to determine which financial instrument you are purchasing and the corresponding quantity.

Symbol/Quote by Default - Automatically set to the open the chart which you have open

By default, size is determined by By choosing the default button key and then choosing the number of lots/contracts from the drop-down list next to this option, you can automatically use the last lot size or establish that each trade be default 1 lot, 2 lots, 1 micro lot, or 2 micro lots.

Deviation. This sets the max pips an order can slip during execution. For instance, choose 2 pips, or 0 for exact entry at your clicked price.

With One-Click Trading, cryptocurrency trades can be executed with a single click. However, it's advisable to avoid this option as it increases the risk of errors due to limited time for adjustments, potentially leading to monetary losses.

Automated Bitcoin Trading EAs

Automated EAs window is shown below:

following options are used:

Activation of Automated BTCUSD EAs: Authorize the placement of an Automated EA onto the chart to facilitate autonomous transaction execution.

When you log in to a different MT5 account, it deactivates Automated Bitcoin Trading Expert Advisors - so disable your experts after switching accounts.

Turn off EAs when you switch profiles. Changing profiles disables auto-trading for EAs on the new setup. You must enable it and add EAs manually to the fresh chart.

Enabling Live Trade allows Expert Advisors (EAs) permission to execute trades in the live bitcoin market seamlessly.

(Ask Manual Confirmation - not needed if using Automated Bitcoin EAs: leave this as it is without selecting it.)

Allow DLL imports only if needed. Leave this unchecked by default. DLLs are external files. They come from sources outside your PC. Be cautious with this option.

Check every DLL function call yourself - allow or disallow each one depending on your trade settings.

Allow External Experts to be imported - This function grants your Expert Advisor (EA) the capability to access specific data referenced from a separate Expert Advisor situated remotely, outside your personal desktop PC. ("External" signifies that these Bitcoin Bot Expert Advisors are being referenced from sources external to your machine, so exercise caution when adjusting this setting.)

Notifications

To receive notification on your phone from your MetaTrader 5 platform, use notifications option shown below. Not that you're required to have a sign up ID, from Meta Quotes Corp. To begin receiving notifications sent to your mobile through text/sms messages.

Select "Enable Push Notifications", enter your ID, and press test: you should then get a test message. You need to first register for an ID: to do this, use the window on your MT5 and follow the instructions you see in the Notification panel window.

E-mail Settings

This specific feature may not be necessary for the majority of traders, but for those who do require it, the configurational parameters can be adjusted below.

Let us utilize this company, which owns the website www.tradeforextrading.com. Please click and check the button labeled "Enable": the respective mail settings parameters are detailed below, and the SMTP setting is "SMTP: Port 465". Choose and input these as illustrated below. Click test and verify your inbox to ensure that you receive the message.

Events

Events in MT5 are alerts, like a sound, an email, or an SMS message. The alerts can be set for different things, like when time runs out, connecting, disconnecting, news, Automated Bitcoin Trading Expert Advisor, EA confirmation, bitcoin price level alert, and requote alert.

The various types of alerts actions that can be set for a event can be selected by double clicking on the event action, pressing the drop-down arrow & then selecting the alert action that you want from dropdown list illustrated & shown below.

MQL5 BTCUSD EA Robots Forum

The MQL5 forum functions as a shared space for traders to connect and distribute Automated Expert Advisors (EAs) along with Bitcoin Signals. Individuals trading Bitcoin must register with this community forum to then directly access services integrated within their trading software. For comprehensive instructions on joining and navigating this forum, log into your MT5 software and reference the panel window depicted below, adhering to the subsequent guidance.

MQL5 Trading Signals

MQL5 provides the signal settings, and they're the people behind MetaTrader platforms. Their signal service lets you adjust these settings:

Signal - First Subscribe to a signal

Agree to Terms - Agree to terms of using the signal service

Enable Real-Time trading signal subscription - This allows for the actual-time transmission of trading signals to your installed software.

Utilize the Trusted Execution Token (TET) - The concept of a trusted execution token means you are not required to have your MT5 application running on your computer for trading signals to be acted upon. The TET model allows copy trading signals to be executed even if your MetaTrader 5 platform is closed on your device.

Copy Stop Loss Bitcoin Order & TP Bitcoin Order Areas - Copy these numbers from the signal provider exactly as they are, automatically.

Implement a money management strategy for BTC/USD equity by limiting risk exposure. Aggressive traders may allocate up to 10% of capital, while non-aggressive traders should aim for 5%, ensuring better protection of account funds.

Stop trading if the equity is less than - Set a % to calculate this level e.g. if your capital is $10,000 then use 70 %, that's $7,000 and set this amount: if the trading signal makes a loss upto this point the signal execution is stopped.

Deviation or slippage - Set it to 2 for some room. This handles a few pips of slippage during trades with your broker. It helps if your broker re-quotes. Pick an STP broker with no re-quotes to ensure smooth trade execution and skip slippage issues.

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