MetaTrader 4 is known for its user-friendly interface, advanced charting tools, and the ability to use automated trading strategies. Using the right add-ons and plugins can potentially enhance traders experience on the MT4 platform even further.
Here is an overview of what the Figaro App Suite offers, along with the AutoChartist and CMC Markets add-ons:
Currency Strength and Market Scanner: This tool compares the relative strength of major currencies, helping you identify profitable trading opportunities. The market scanner can scan multiple markets for technical indicator conditions.
Powerful Quote Boards and Trade Lists: These features provide detailed information on market prices and open positions. You can monitor market prices, view open positions, and take quick actions like closing multiple positions at once.
Technical Analysis and Sentiment: The suite includes tools for technical analysis and market sentiment, combining multiple moving averages, oscillators, and pivot points to provide a comprehensive view of market conditions.
Enhanced Charting: Figaro offers sophisticated charting capabilities, including mini charts for monitoring multiple markets or timeframes simultaneously. You can add indicators, set alert levels, and customize chart styles.
Order Grids and Batches: This feature allows you to create batches of orders that execute on multiple markets with a single click, or grids of pending orders above or below the current price.
Future Events Scanner: This unique tool scans for upcoming economic events that could impact the markets, helping you stay informed and prepared.
Calculators: The suite includes various calculators for pivot points, Fibonacci levels, position sizing, and profit calculations.
CMC Markets offers additional add-ons for MT4 that complement the Figaro App Suite and AutoChartist:
Mini Terminal: This add-on allows for advanced order management directly from the chart, including smart lines for trend line stop-losses and take-profits.
Sentiment Trader: Provides insights into market sentiment by showing the percentage of traders who are long or short on a particular instrument.
Correlation Matrix: Helps you understand the correlation between different instruments, useful for managing portfolio risk.
Correlation matrix screen
Tick Chart Trader: Displays bid and ask prices on a tick-by-tick basis and allows for ultra-fast trading with one-click execution.
Market Manager: Keeps track of your favourite instruments, filters by those with open orders, and provides quick access to sentiment data.
AutoChartist is a powerful technical analysis tool that provides automated pattern recognition and trading signals. Here are some key features available through CMC Markets:
Pattern Recognition: AutoChartist continuously scans the markets to identify emerging and completed patterns, such as channels, wedges, triangles, and flags. This helps traders spot statistically significant market movements.
Key Support and Resistance Levels: The tool alerts you to key support and resistance levels, aiding in identifying potential entry and exit points.
Fibonacci Patterns: AutoChartist simplifies the identification of Fibonacci retracements, extensions, ABCD patterns, Butterfly, and Gartley patterns with built-in scans.
Volatility Analysis: Provides statistical analysis of volatility over the last six months for specific instruments and time intervals, guiding potential trading opportunities for stop-loss and take-profit levels.
Alert Notifications: Receive real-time alerts when the scanner identifies trading opportunities, ensuring you never miss a potential trade.
Customizable Parameters: Filter the scanner parameters to receive pattern types and key levels specific to your trading strategy.
These tools and add-ons significantly enhance the functionality of MT4, providing traders with advanced capabilities for market analysis, order management, and risk assessment