MetaTrader 4 Navigator Window - MetaTrader 4 Platform Tutorial
The MetaTrader 4 Navigator window is mainly used to navigate the most widely used areas of the MT4 platform. These areas are:
- Accounts: Demo and Live Accounts
- Indicators
- Expert Advisors: A list of automated trading robots within this MetaTrader 4 platform
- Custom Indicators:
- Scripts: Scripts are used to execute some tasks on the MT4
As a trader once you have selected the Navigator Button the following navigator window will appear on your MetaTrader 4.
Accounts Menu - MetaTrader 4 Navigator
The First menu option on the Navigator list is the Accounts tab. To view the accounts tab, you can click the expand button (marked as +), and a list of your saved accounts will appear. Every time you login with a new account the details will be saved under this "Accounts Tab".
By double clicking on any account you can activate the login and login to that account. You can switch from one account to the other using this accounts tab.
The example below shows two accounts recorded under this tab, a demo account marked as a green cartoon and a Live account marked as a gold cartoon. From this accounts tab, a trader can switch between any of this two accounts by double clicking on any one of them.
Indicators, Expert Advisors, Custom Indicators and Scripts - MetaTrader 4 Navigation Menu
- Indicators
- Expert Advisors: A list of automated trading robots within this MetaTrader 4 platform
- Custom Indicators:
- Scripts: Scripts are used to execute some tasks on the MetaTrader 4
The above are shown below on the screenshot, to view more option under each of these, traders click the expand button "+ button", this will show more options, to hide, just click the "- button" . For example the "Expert Advisors" option below has been expanded.
These topics will be covered in more details later, but for now as a trader the following brief introduction about each will do.
Indicators: Indicators are technical analysis tools used in trading and placed on Forex chart, these tools are used to generate buy and sell signals.
Expert Advisors: Automated Trading robots that are used to place trades by generating buy and sell signal automatically using programs that 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 MetaTrader 4 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 set up some setting on the MetaTrader to allow scripts execution trading, that is a topic for later.)
The Navigator will be one of your mainly used when trading, to access it using a shortcut, press "Ctrl+N" button on your keyboard to display or hide it.
