MetaTrader 5 (MT5) is a trading platform developed by MetaQuotes software. This article will serve as a guide to its features and settings.
Some of the features described below may be unavailable on mobile platforms.
Settings
Important options here include Login to Trade Account to sign in with your trading account and New Chart to open a new chart.
The main function of this menu is to show and hide the various windows in MT5. Let us take you through a few more functions you can perform from this tab:
- Change the language
- Click View then Languages.
- Select a language from those shown.
Show/hide windows
- Click View.
- Select the menu item to show/hide that window.
- The displayed shortcut keys can be used to do the same thing.
This menu hosts customization options for Indicators, Objects, Experts (Expert Advisors), and Scripts, all of which apply to the active charts.
This menu allows customization of the chart itself, including the choice of Bar Chart, Candlesticks, or Line Chart. Clicking Properties brings up an in-depth list of template options to truly personalize your charts. Many of the options shown here are additionally button items located above the chart.
Options will present critical settings, of which the most important include:
- Push notifications: go to Notifications and click Enable Push notifications.
- Expert Advisors: go to Expert Advisors and click Allow algorithmic trading.
- One Click Trading: go to Trade, click One Click Trading, and then accept the presented terms and conditions.
- Technical news: click Server and Enable news.
- Events customize events that send the platform notifications.
The presentation of chart windows is the main reason to use this menu. Multiple chart windows can be open at once and this menu makes sorting and arranging them simple.
The main repository of all tips, guides and information for MT5. The Help Topics item is particularly useful for learning about specific functions of the platform, while About will display information about Exness and the current application build/version (relevant for some troubleshooting topics).
Market Watch
The Market Watch window is a central collection of trading instruments, which is customizable by the user. For many, the Market Watch window is essential to trading with MT5.
Details on adding, removing, and reordering instruments can be found in our MT5 trading guide.
Navigator
The Navigator window is a central management hub for the following:
Trading accounts that have logged in previously are collected here, but only one trading account can be logged into at any time. Double-click any trading account here to bring up a login popup with its credentials already entered, then confirm to log in quickly.
The full list of preinstalled indicators available for MT5 are shown here. Indicators are programmed visual cues that measure certain market trends.
To add indicators:
- Drag any indicator onto the active chart.
- Customize the indicator as desired.
- Click OK to apply.
To delete or edit indicators:
- Right-click the chart and select the Indicator list.
- To delete, select the indicator from the list and click Delete.
- To edit, select the indicator from the list and click Properties.
Expert Advisors (EA) listed here can be used for automated trading. As an advanced topic, we recommend reading more about Expert Advisors before using them here.
To add EA:
- Drag the EA onto the active chart.
- Customize the EA.
- Click OK to apply.
To delete or edit EA:
- Right-click the chart, hover over Expert List.
- To delete, select Remove.
- To edit, select Properties.
Like EA, scripts are used for automated trading. Any scripts that are installed into MT5 are shown here.
Charts
The Charts area can display active charts simultaneously, which illustrate the performance of the instruments selected.
Clicking and dragging the mouse across the chart or rolling the mouse wheel will scroll the time period shown on the chart. Clicking and dragging the price column will expand or contract the price parameters tracked.
- Right-click and select Properties, or press F8, or click Charts. Select Properties.
- The Colors tab lets you customize every element in the chart, or select from a number of preset color schemes.
- The Common tab controls chart scale and type.
- The Show tab will show/hide certain features for the chart.
- Right-click and hover over Timeframes.
- Select from the options available (the periods they represent are shown too).
- These can be selected from the icons above the chart too.
- Select from Bar charts, Candlesticks, or Line charts by clicking their icon above the chart, or use their key shortcuts.
- This setting is off by default, and is useful to users who create sell orders.
- Right-click and select Properties, or press F8, or click Charts. Select Properties.
- Open the Show tab.
- Tick Show ask price line.
The ask price line appears in red by default, and may appear invisible if your background matches its color. Change this in the Colors tab to ensure it appears as intended.
Toolbox
The Toolbox window is an information center for MT5 where notifications, order history, trading activity, and more are stored. Technical news is collected in the News tab if it is enabled; open Tools, Options then Server to find it.
The most important tabs in the Terminal window include:
Information about your trading account’s balance, equity, and margin are shown in the Trade tab, while managing active orders is also possible.
- Right-click any active order here to bring up its options.
- Right-click anywhere in the Trade tab to various display options.
History displays all transactions, such as deposits and withdrawals, made with this trading account but also includes information about closed orders. Right-click anywhere in the tab to choose some useful options such as:
- A preset or customizable time period for displayed history.
- Right-click an item, and select Report then HTML to save a report.
- Select from the offered information columns.
Mailbox is an internal messaging system. You’ll receive important updates there, such as information about your accounts, platform features, and upcoming events.
Highlight any item and press Enter to bring it up instantly; press Esc to close it.
Create custom alerts based on predefined criteria, i.e. when an instrument’s price reaches a certain level.
Right-click and select Create to open the Alert Editor which lets you explore features related to setting up alerts, which includes sending yourself an email alert.
If you are using Expert Advisors (EA) for trading, information about this will be tracked in this tab.
The Journal tab tracks every event that occurs on MT5, including login attempts and terminal errors. As such this tab is very important for troubleshooting issues; you may be requested by our support team to provide information from here.
To copy an event:
- Right-click any item listed in the Journal.
- Click Copy.
- Paste this information either into a notepad application, or directly into an email as requested by Support.
Optimizing MT5
Here are some suggestions to improve MT5’s speed and performance.
Your hardware may limit the effectiveness of some of these suggestions.
Reducing the bars displayed limits how much your device needs to render which can lighten the processing load.
- Select Tools and go to Options. Choose Charts.
- Find the Max bars in chart option and lower these values by 50%. You can go as low as you like, but test this setting for an improvement first.
Less bars need less rendering and may improve overall performance.
MT5 features a newsfeed (News tab) that automatically updates financial news of interest to users. This feature may increase the load on the application, causing some slowdown.
To disable this feature:
- Select Tools then Options, and select Server.
- Untick Enable news, then click OK.
Sometimes background features can make use of RAM inefficiently; disabling some of these may improve performance.
- Hide all unused instruments in the Market Watch window. Right-click the instrument and select Hide. Consider the Hide All option if there are too many.
- Similarly, close all charts not in use by clicking the X icon on that graph’s window.
- If you are running any Expert Advisors, consider disabling any logging functions as this eats into your computer memory.
- Restart MT5 regularly to refresh its memory.
Use the built-in user profile to save and load settings that optimize performance. Then, toggle these settings as needed:
- Set your preferences as needed.
- To set up a new profile name, go to File and choose Profiles. Select Save As.
- Now you can return to Profiles and load your optimized profile from the list.
Custom indicators can impact performance negatively, however, the default indicators that come with MetaTrader are optimized and should not impact performance.
If you are looking to increase the execution speed of your trades specifically, and your problem is related to your internet connection and bandwidth, do consider applying for a VPS with Exness.