Candlestick charts and bar charts display the same underlying market data but use different visual conventions. Both show four data points per period (open, high, low, and close), and both…
A standard lot in forex is 100,000 units of the base currency, while a mini lot is 10,000 units. The mini lot is one-tenth the size of a standard lot,…
A Heikin Ashi chart is a modified version of a standard candlestick chart in which each candle is calculated from a blended average of the current and previous period’s prices,…
A marubozu is a candlestick with a full body and little or no wick on either end, reflecting strong directional conviction during the session. The Japanese term translates loosely as…
An engulfing candle is a two-candle pattern in which the second candle’s body completely covers the first candle’s body, signalling a potential reversal in market direction. The pattern is widely…
A spinning top is a candlestick with a small body and relatively long upper and lower wicks of similar length. The pattern reflects indecision in the market, where neither buyers…
A candlestick wick is the thin line that extends above or below the body of a candlestick, marking the highest and lowest prices traded during the candle’s session. Wicks are…
A shooting star is a single-candle bearish reversal pattern that forms at the top of an uptrend. It has a small body near the bottom of the candle, a long…
A hammer is a single-candle bullish reversal pattern characterised by a small body at the top of the candle, a long lower wick, and little to no upper wick. It…
A margin call in forex is a notification from the broker that the trader’s account equity has fallen close to the minimum required to maintain open positions. If the situation…
A pin bar is a single candlestick pattern recognised by its long wick and small body, typically signalling that a strong price move was rejected by the market. The name…
A pending order in MetaTrader 4 is an instruction to buy or sell a currency pair at a specified price level rather than at the current market price. The order…
The Strategy Tester in MetaTrader 5 is the platform’s built-in tool for testing automated trading strategies on historical data. It allows Expert Advisors to be run against past price data…
A doji is a candlestick pattern in which the open and close prices of a single candle are equal or very close to each other, producing a candle with little…
Backtesting a strategy in MetaTrader involves running an automated trading program against historical price data to see how it would have performed in the past. The process is built into…
Contract specifications in MetaTrader 5 describe how each tradable symbol behaves on the trader’s account. They define the contract size, margin requirements, minimum and maximum order sizes, tick value, swap…
No. Expert Advisors cannot run on the MT4 mobile application. The mobile versions of MetaTrader 4, available for both iOS and Android, are designed for manual trading and account monitoring….
MQL4 and MQL5 are the programming languages used to write automated trading programs for the MetaTrader 4 and MetaTrader 5 platforms respectively. MQL stands for MetaQuotes Language, named after MetaQuotes…
The Navigator window in MetaTrader is the panel that lists the user’s accounts, indicators, Expert Advisors, scripts, and other resources available to the platform. It sits on the left side…
The Market Watch window in MetaTrader is the panel that displays live price quotes for the symbols available on the trader’s account. It is the source from which traders open…