MT4 Supreme Edition Trade Terminal
1.Trade Terminal overview
1.1.Opening the Trade Terminal
Download MetaTrader 4 Supreme Edition. If you have MetaTrader 4 (MT4) opened, close it and begin installation.
Open the file in the archive and follow the instructions. Once the installation has completed, you can run MT4.
To initiate the Trade Terminal, open a chart for any symbol in MetaTrader 4 software. Then add the expert advisor (EA) MTrading Trade Terminal to the chart.
Double-click on the EA in the MT4 Navigator list and drag the EA onto the chart. Alternatively, you can right-click its name and select Attach to a chart.
You can only run one EA per chart in MT4. Trade Terminal fully occupies the chart. Adding Trade Terminal to the chart with EA will replace EA.
To run EA and Trade Terminal at the same time, open several charts.
1.2.Trade Terminal components
Trade Terminal includes three parts:
- market watch
- account info
- order list.
You can close account info and order list to get more space for the market watch. Click on the double arrow icon in the title bar of either the account info or order list to close it.
Additionally, you can manipulate the size of the windows for each functionality. Click and drag the border between windows to adjust them accordingly.
Trade Terminal displays your entire account activity.
The market watch displays a trading extension similar to Mini Terminal for all symbols. For more information about Mini Terminal, please refer to the Mini Terminal manual.
The market watches of Trade Terminal and MetaTrader 4 are synchronised. The symbols you add/remove from the MT4 market watch will be added/removed from the trading terminal. The synchronisation itself takes a few seconds.
If you have issues with the speed of the Trade Terminal’s processing, you may experience CPU overload. The number of symbols displayed on the screen of Trade Terminal affects its speed.
2.1.Placing buy/sell orders
Click Buy or Sell in the market watch to place a buy or sell order, respectively. You can assess the position for each symbol by looking at the status bar at the top. For example, “+1.0” means you are long one lot and “-1.0” means you are short one lot.
Use the fields above Buy and Sell buttons to adjust the amount of lots, set a trailing stop (T/S), stop-loss (S/L) and take-profit (T/P).
There is a trade calculator functionality available for each field. Press Ctrl+left-click to open the trade calculator.
For example, to set a stop loss, Ctrl+left-click the S/L field to open a trade calculator. The system will calculate your pip value per lot, S/L risk and give you the lot size based on these numbers. If the exact calculation is not possible, the value will be rounded down.
Ctrl+left-click the lot field to get information about the margin requirements.
2.3.Placing pending orders
Market watch allows you to place pending orders (limits and stops). Click on the icon and select New order. You can choose the order type, stop loss, take profit and entry price.
The latter can be set either as a fixed value or as amount of pips against the current price. A buy limit with a value of 10 pips will place a limit order 10 pips below the price.
2.4.One-cancels-other (OCO) orders
Click on the icon and select New order to place OCO orders. You can choose between two types of OCO orders.
- OCO breakout sets two prices, one on each side of the current price, with buy stop and sell stop placed automatically by the system. If one pending order is filled, the other is cancelled. OCO breakout is typically used when you don’t know the exact direction of a price movement.
- OCO reversion places buy limits and sell limits instead of buy stops and sell stops. OCO reversion is typically used in case of a price bounce.
Market watch allows you to create template for the order type you use on a regular basis. This gives you quick access to this specific order type.
To create a template, click on the icon, fill in the New order form and press Save template. You can choose a name for your new template.
To access the template, Ctrl+click on the icon and select the saved template from the context menu. This specific order types will be placed automatically and will not require confirmation.
To close an open position, click on the position marker at the top of the Mini Terminal and open a panel with options.
The panel displays profitability of your order in cash and pips. The price below the profit is the position’s average entry price (in case of multiple open orders).
The list of options for closing orders includes the following:
- Close all closes all positions and pending orders
- Close open positions closes all active, non-pending trades
- Delete pending orders deletes only pending orders
- Close all winners closes all open positive orders
- Close all losers closes all open negative orders
- Reverse closes the current position and opens another position of the same value on the opposite side of the market
- Hedge opens an order of the same volume on the opposite side of the market without closing the current one.
To close the order, you can use regular MetaTrader 4 window or the settings and extensions of the Trade Terminal.
Click on the icon and select Symbol information to get more details about the symbol. You can see the sample symbol information below.
2.8.Open new chart
Click on the icon and choose New chart to open a new chart.
Account info provides information about your account. This includes balance, equity, free margin and profit in pips.
Click on the bell icon next to an entry to set an alarm. The alarm will trigger when its triggering condition is fulfilled.
For example, you can set an alarm for profits falling below a certain threshold.
When an alarm is created, the icon colour turns yellow. Once triggered, the icon turns red and the alarm is shown in a pop-up window. You also have an option to send the alarm to your email.
When setting an alarm, choose a numerical value as threshold and select a triggering condition. Set a value and receive notification when the entry:
- exceeds the value
- falls below the value
- is equal to the value
- not equal to the value.
To receive a notification when the number of open positions changes, enter the current value and choose Not equal to. This way, the alarm will trigger when the number of open positions grows or lowers.
You have an option to put your alarms to repeat. Set a repeat value in minutes to ignore a triggered alarm for a specified time period. This way, if the condition keeps getting triggered, you will only get subsequent notifications after the set amount of minutes.
For example, the repeat period of 10 minutes for a free margin notification means every notification after the initial one will have a 10-minute downtime.
You have an option to receive email notification when the alarm is triggered. To do this, configure MetaTrader 4 email settings in the Tools > Options > Email menu.
3.4.Closing charts and orders
Trade Terminal includes two specific actions for a triggered alarm: Close all orders and Close all charts.
Close all orders closes all open positions and deletes all pending orders. It is typically used with free margin alarms, when you want to avoid a margin call.
Close all charts closes all MT4 charts, except for the Trade Terminal chart. This prevents other charts from placing new trades.
The order list displays and configures open positions and pending orders. It copies the information from MetaTrader 4 order list and adds further details, including trade period and profit in pips.
If the icon next to an order changes to , the Trade Terminal executes automated actions on the order. This might include a trailing stop, an automated close or an OCA order.
Click on the icon and choose Tasks in progress to see the current list of actions.
4.1.Sorting list and re-ordering columns
Click on a header to sort the order list by its columns. For example, clicking on Ticket will sort the orders in ascending order and click on it again will sort it in descending order.
You can also change the position of columns. Click and hold the header, then drag it to rearrange its position.
Additionally, you can click on the arrow next to the header and choose to show/hide the columns.
To close an open position or delete a pending order, click on the icon next to it.
The Close option on the toolbar above the order list includes several sub-options:
- Close all closes all positions and pending orders
- Close open positions closes all active, non-pending trades
- Delete pending orders deletes all pending orders
- Close all winners closes all open positive orders
- Close all losers closes all open negative orders.
Trade Terminal allows traders to execute several actions on orders, which includes partial close, stop loss and trailing stops modification, etc. To execute these actions:
- click on the icon next to an individual order
- choose All orders under Tools to execute the action on every order
- select orders in the list and choose Selected orders from the Tools menu
- click on the icon in the summary window.
4.3.1.Selecting orders from the list
Trade Terminal lets you choose actions to be executed on selected orders. The order list follows the standard behaviour for Windows programs.
- Click on an entry to select the row and deselect previously selected entries.
- Shift+click on two entries to select all entries between them.
- Ctrl+click to toggle an entry. This will select a non-selected entry and deselect a selected entry.
To select all entries except for one, click on the first entry, Shift+click on the last entry, then Ctrl+click on the order you want to remove from your list of selected entries.
Use the Selected orders option in the Tools menu to assign actions to selected entries. This option is disabled if you have no selected orders.
4.3.2.Partial closes, S/L, T/P and T/S
Trade Terminal allows you to partially close an order. Additionally, you can set and edit the stop loss (S/L), take profit (T/P) and trailing stop (T/S).
Stop loss and take profit are specified in pips. They can also be set to break-even (the entry price of the order).
Partial close rounds down the lot size. For example, if you want to close 50% of an order for 0.03 lots, the system closes 0.01 lots, which leaves an order for 0.02 lots.
Please note that trailing stops are active until you close the Trade Terminal or MetaTrader 4.
You have an option to open a separate window for each order. To do this, click on the:
- ticket number of an order, or
- the icon, and
- choose Edit.
The order details window shows how close the stop loss, take profit and trailing stop are to being hit. Additionally, you can see how the balance will change if they are hit.
The current profit is displayed in the top-right corner. Click on the current profit to switch it between cash and pips.
Click on the Close order button to close the order. Click on the S/L, T/P or T/S buttons to change the stop loss, take profit and trailing stop.
Trade Terminal supports the use of automated closing, which lets you set the conditions for exiting an open position. The conditions may involve several parts and include alarms and email notifications. Automated closing can be saved as a template (see details below).
Please note that automated closes are active until you close the Trade Terminal or MetaTrader 4.
To create an automated close, select Automated close from the Tools menu, then click Create to define a new automated close rule. If there is already an active close on the order, click Edit to modify it.
4.4.1.Conditions/rules for automated closes
You can choose conditions for automated closes at the top of the Automated close form. These conditions include the order’s profit in pips, its duration and the value for the threshold.
For every closing condition, you can define a number of actions such as closing part or all of the order, setting a stop-loss or trailing stop or sending an alert by email. To choose a certain action, tick the box next to it and enter the value in the field (the amount of pips or percentage). The percentage of an order to close is in relation to the initial size.
For example, if you have two stages configured to close 50% of the order, the order will be completely closed when the second stage is reached.
4.4.2.Saving automated closes as templates
Click Save template to save an automated close as a template. The templates are saved locally on your PC. To access them on a different PC, transfer your templates to the PC you want to use them on. Otherwise, you have to create new templates.
Choose Automated close from the Tools menu and then select the template to attach it to an order.
You can customise the list of your templates. Choose Manage templates in the menu and edit/remove the templates. You do not need to confirm the action when you place orders this way.
Trade Terminal allows to create OCO group for pending orders. When one of the orders in OCO group is filled, the rest are automatically deleted. Therefore, an OCO order (see details above) is an OCA group with two orders.
Please note that OCA groups are active until you close the Trade Terminal or MetaTrader 4.
To create an OCA group, choose Create OCA group from the OCA menu. The option to create an OCA group becomes available once you have more than one pending order. Enter a name for the group and select the pending orders to include in the group.
A single order can be in several OCA groups. Additionally, orders in an OCA group can be for different symbols.
To delete an OCA group, choose Delete OCA group from the OCA menu. This does not delete pending orders. Instead, it prevents Trade Terminal from applying the OCA group to the orders.
Use the Summary menu in the toolbar above your orders to overview your open positions. The summary opens in a new window and includes the following information:
- the total profit/loss for all open positions
- the total volume
- long and short positions individually.
To execute an action for all orders of a particular category, click on the
When you change the Trade Terminal settings, you automatically change them for all copies of Mini Terminal. To change the settings, select Confirmations and preferences in the Settings menu above the order list.
The list of options in the Confirmation and settings menu depends on the broker. Typically, the list includes the following entries:
- Confirm new orders (de)activates confirmations for quick orders
- Confirm close-all (de)activates confirmations when you close all orders for a symbol
- Hedging mode, which is the Trade Terminal’s default option, allows you to place two order of the opposite types.
If you place a buy order and a sell order for the same symbol, you will place two open orders. When you choose a non-hedging mode, the system automatically closes an order when you place another order of the opposite type.
For example, if you are long 0.3 lots and sell 0.1 lots, you are left with a buy order for 0.2 lots.
Typically, non-hedging mode is used to close orders faster. Clicking on the order type that is currently not open allows to close or partially close the open order.
4.7.1.Saving automated closes as templates
You can also set sound alarms for chosen events. To do this, select a sound alert and attach it to an event. The list of events includes:
- New market order
- New pending order
- Pending order activated
- Position closed
- Pending order deleted.
Clicking Test previews the sound alert.
All new settings need to be saved.
4.7.2.Undocking the Trade Terminal
It is possible to display the Trade Terminal in a separate window by undocking it from MetaTrader 4. You can continue to trade while the terminal is undocked from the chart. This is especially useful for users with multiple screens.
To undock the Trade Terminal, click on the icon and select Undock terminal. To undo the change, click Settings button and choose Re-dock terminal.
You can also put this setting as default. Go into the Inputs tab and set UndockAtStartup to true. Trade Terminal will automatically appear in a separate window when you run MetaTrader 4.
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