MT5 Software Guide
The MT5 Navigator window is mainly used to navigate the most widely used areas of the MT5 Platform. These zones are:
- Accounts: Demo & Live Accounts
- Indicators
- Automated EAs: A listing of automated bots within this MT5 Platform Software
- Custom Indicators:
- Scripts: Scripts are used to execute some tasks on the MT5
As a trader once you have selected the Navigator Button the following navigator window will appear on your MetaTrader 5.
MT5 Navigator
The First menu option on Navigator list is Accounts tab. To view accounts tab, you can click expand button (marked as +), & a list of your saved accounts will appear. Every time you login with a new MT5 account the details will be saved under this 'Accounts Tab'.
By double clicking on any MT5 account you can activate the login & login to that account. You can switch from one MT5 account to the other using this accounts tab.
The example shown below shows two accounts recorded under this tab, a demo MT5 account marked as a green cartoon and a Live MT5 account marked as a trading cartoon. From this trading accounts tab, a trader can switch between any of this 2 accounts by double-clicking on any one of them.
Indicators, Automated Expert Advisors, Custom Indicators and Scripts
- Indicators
- Automated EAs: A listing of automated bots within this MT5 Software
- Custom Technical Indicators:
- Scripts: Scripts are used to execute some tasks on the MetaTrader 5
The above are shown below on screen-shot, to view more options under each of these, traders click the expand button key "+ button", this will illustrate more options, to hide, just click the " - button key". For example the "Automated Expert Advisors" option below has been expanded.
The courses will be discussed in more details later, but for now as a trader the following explanation about each will do.
Indicators: Indicators are analysis tools used in trading and placed on chart, these tools are used to generate buy & sell signals.
Automated Expert Advisors: Automated bots that are used to place trades by generating buy and sell signal automatically using programs which are coded using the MQL4 programming language.
Custom Indicators: A custom indicator includes an indicator that you have modified or downloaded from the internet and then installed it on your MT5 Platform, this indicator will be listed here as a "custom indicator"
Scripts: This is a function used to perform a certain task, for example if you open five trades and want to close all of them at once you can attach a 'script close' on your chart thereby closing all open trades at once (However, you need to adjust some parameters on the MetaTrader to allow for scripts execution trading, that is a topic for later.)
Navigator will be one of your mainly used panel when trading, to access it using short-cut, press 'Ctrl+N' button on your keyboard to display or hide it.
