Options Setting in Tools Menu in MT5 Platform

The options button is used for a variety of many different tasks on the MT5. Option button key is listed within tools menu in the MetaTrader 5 as shown below. The Short-cut key for this - Ctrl+O.

MT5 Options Settings

These are shown below: the list of various MT5 buttons are displayed as tabs as displayed on the image below. As a trader to edit anything on this window just click on any of these MT5 buttons and then change the settings.

Server

The server settings for MT5 are shown below. A trader can edit from this tab, but most of the times it's not necessary as these options are automatically preset to the brokers' server parameters by the broker & there's no need to re-adjust them. However, just for course purposes, Server will show the server of your bitcoin broker & if it's a Demo or a Real Server. The MT5 account login & password will also be displayed below and as a trader you can change the password from this window for demo bitcoin accounts, however be careful if you're changing passwords credentials make sure to remember them.

Other options are, enable proxy server, this isn't required, Keep personal data at startup, this is checked by default, that way the trading platform will automatically remember your log in and password so that you do not have to type them and key them in every time you sign in to your platform. Enable DDE server isn't required, Enable news is checked and you can receive real time news reports to your MetaTrader 5 on the News options, located in Terminal window, (Shortcut Keys Ctrl+T).

Bitcoin Chart

The following are marked on the Charts Options

Show Trade Levels - These lines will explain levels where orders were placed, it'll also show levels where pending bitcoin orders are placed. This will also show the Take Profit BTCUSD Crypto Order & Stop-Loss Order levels. These trade zones lines appear as red broken lines marking these trade areas.

If there is no open transaction, no level will be shown: if many btcusd trades have been placed, multiple lines will be displayed for these levels.

Use the Alt key to drag trade levels is not a very suitable option to use, because if you place many orders you might change wrong order, therefore it is best to leave this as it is and not change it (Probability of this one losing you money is there so leave as it is)

Show OHCL - Show Opening, High, Closing and Low Prices for every candle

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

Show period separators - a separator will draw a line where the daily chart starts and ends, for example if you trade with 5 minutes, 15 minute or 1 Hour Charts the period separator will draw a vertical line when the bitcoin market closes for each day. (4 Hour separator is Weekly, for Daily and Weekly separator is Monthly).

Color Print - To print in color and not black white which is set by default, use this option and then the next time you print it will be a colored print and not black and white.

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

Max bars in History, Max bars in Chart - To save computer resources RAM, Processor Speed and Hard disk Space, these bars stored are limited to a specific number that's optimum, it is better to use the default number selected.

Objects

These are:

Show properties after creation - immediately display indicator/line tool settings after it is added on chart to facilitate editing of their properties settings.

Choose Object after creation - an indicator/line tool can be chosen by double-clicking on it once it is drawn, to facilitate editing of its properties.

Select object by single mouse click - select an indicator/line tool using single mouse click not double clicking, double clicking will show properties window of indicator/line tool

Magnet Sensitivity - immediately draw a line tool to the nearest low or high that's within 10 pixels of the point selected. This allows for lines plotted to more or less be placed on the levels they're intended without doing much editing by aligning the lines to the nearest high or low of btcusd price.

Trade

These are default used by the platform to determine what crypto instrument you buy and what amount you buy.

Symbol by Default - Automatically set to the open chart which you've open

Size by default - Automatically use the last lot size, or set every trade to be default 1 lot or 2 lots or 1 micro lot or 2 micro lots by choose the default button and then selecting the number of lots from drop don list next to this option.

Deviation - Set the allowed number of pips that can move away when executing an order for example 2 pips, or zero pips if you want to specify to place btcusd trades at the exact level where you click.

One Click trading - Place btcusd trades buy or sell with one click. (Do not use this option as it is prone to mistakes and no time to correct, this option can lose you money.)

Automated Expert Advisors

Automated Expert Advisors window is shown below:

The following options are used:

Enable Automated Expert Advisors - Allow for Automated Expert Advisor to be placed on chart for automated execution purposes

Disable experts when trading accounts have been changed - login to a different MT5 account deactivates Automated Expert Advisors

Disable Experts when profile has been change - When you change profiles the Automated Expert Advisors setting for allowing trading in new profile is deactivated until you allow & manually place an EA on this newly opened chart.

Allow Live Trading - Give Permission to Expert Advisor to open btcusd trades on the live btcusd market.

(Ask Manual Confirmation - no needs for this if you are using Automated Expert Advisors, leave this as it's pictured without checking it.)

Allow DLL imports - Dynamic Link Libraries, which are external, unless required this should be left unchecked. (External means that these libraries are referenced from an external source outside your PC computer, so you need to be careful with this one)

Confirm DLL functions calls - Exercise manual permission for each & every function call, either allow it or disallow it depending on your trade parameters.

Allow External Experts imports - This is used to allow your Automated EA to reference some data from another EA that's in another place, away from your computer, (External means these EA Bitcoin Robots are referenced from an external source outside your computer, so be careful with this option)

Notifications

To receive notification on your mobile phone from your MetaTrader 5 software, use notifications option shown below. Not that you are required to have a registration ID, from MetaQuotes Corp. To start receiving notifications sent to your mobile via text messages.

Check the option, Enable Push Notifications, put your ID, press test and you should get a test notification text message. You require to first register for this ID, to do so, use the following panel on your MT5 and follow the instruction you will get from this Notification window.

Email Settings

Most traders may not really need this, but if you're one of the ones that require, settings can be placed below.

Lets use this company, that owns this site, www.tradeforextrading.com, click and check the button labeled 'Enable' the respective mail settings are shown below and the SMTP setting is 'SMTP: Port 465', Select and put these as shown below. Click test & check your inbox to confirm you receive the message.

Events

Events on MT5 are notifications, either sound notification, an e mail or SMS alert. The notifications can be set for different events such as timeout, connect, disconnect, news, Automated Expert Advisor, EA confirmation, btcusd price level alert and requote alert.

Various types of alert actions which can be set for any event can be chosen by double-clicking on event action, pressing the dropdown arrow and then selecting the alert action that you want from drop-down list illustrated & shown below.

MQL5 BTCUSD Expert Advisor Bots Forum

The MQL5 forum is a forum where traders can find others & Exchange Automated Expert Advisors & Bitcoin Signals with each other. Bitcoin traders have to sign-up to this forum and can then access services from their platform directly. To get details on how to access & sign up in this forum, login to your MT5 software & navigate to window shown below and follow the instructions.

Trading Signals

Signal settings are provided by MQL5, MQL5 is the owner of MetaTrader Software. The Signals service allows traders to adjust the following:

Signal - First Subscribe to a signal

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

Enable Real time signal subscription - allow real time transmission of signals to your platform.

Use Trusted Execution Token( TET ) - Trusted execution token means you don't have to open your MetaTrader 5 on your PC Desktop computer to have signals executed, Trusted Execution Token will allow signals to be executed even if your MT5 is not started on your PC computer.

Copy Stop Loss BTCUSD Crypto Order & TP Bitcoin Order Levels - Copy these levels from the signal provider automatically.

Use no more than - Option for bitcoin money management, set an amount of 10% for the aggressive traders & 5% for the non aggressive traders, that way you limit your risk capital in your account.

Stop if equity is less than - Set a percent to calculate this level for example if your equity is $10,000 then use 70%, that is $7,000 and set this amount: if the signal makes a loss up to this point the signal execution is stopped.

Deviation/Slippage - you can set a value like 2 so as to give some flexibility in case of slippage of a few pips here and there when executing btcusd trades with your broker, especially if your bitcoin broker is one of those who requotes you. (Get an STP Broker with No-Requotes Policy to guarantee execution of your trades and avoid these slippages).