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Glossary of terms related to trading and investing in general, including FX, virtual currencies and CFDs.

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Check messages from broker

Here we'll look over the steps on how to check the messages from brokers and MetaQuotes on the MetaTrader4 (MT4) / MetaTrader5 (MT5) app on Android and iOS mobile devices. Please note that messages will not be displayed if your broker is not sending emails, or if the message from MetaQuotes is not enabled.

Draw Fibonacci time zones

Here we'll look over the steps on how to display the Fibonacci time zones on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. Fibonacci time zones draw vertical Fibonacci lines relative to the time axis, based on the same idea as the Fibonacci retracement. Use these as reference points to determine when the trend will change.

Install Expert Advisor (EA)

To use a third-party Expert Advisor (EA), you must first install it on MT4/MT5. Save the Expert Advisor (EA) files to the "Experts" folder of MT4/MT5, and restart MT4/MT5 to complete the installation.

Draw Fibonacci retracement

Here we'll look over the steps on how to display the Fibonacci retracement on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. Fibonacci retracement is a tool often used to determine the temporary retrace price. It helps you predict a dip/rally in a trending market.

Economic calendar

FXON provides daily market reports and weekly market analysis by our technical analysts. Get quick access to global news, financial market trends, and future market outlooks to help your daily trading activities.

Draw Gann line

Here we'll look over the steps on how to display the Gann line on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. The Gann line is the line between the low and high. Defining the most important line drawn in a 45-degree angle as the 1x1, you can predict the strength of the trend from its length and the price gap.

Create Expert Advisor (EA)

On MT4/MT5, you use a programming tool called MetaEditor and a dedicated language called MQL4 or MQL5 to create an Expert Advisor (EA).

Draw Gann fan

Here we'll look over the steps on how to display the Gann fan on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. In addition to the most important line of the Gann theory, the 1x1 or 45-degree line, it draws nine other lines: 1x8 (82.5 degrees), 1x4 (75 degrees), 1x3 (71.25 degrees), 1x2 (63.75 degrees), 2x1 (26.25 degrees), 3x1 (18.75 degrees), 4x1 (15 degrees), and 8x1 (7.5 degrees). Each fan can be used as a guide for support and resistance levels.

Create indicator

If you wish to create an indicator on MT4/MT5, you can do so by using a tool called MetaEditor, which uses a special programming language for MT4/MT5 called MQL4/MQL5.

Change language on MetaEditor

MT4/MT5's MetaEditor supports a total of 33 and 52 languages respectively. After changing the display language, you will need to restart MetaEditor, which is a tool for developing Expert Advisors (EA) on MT4/MT5.

Set global variables

On MT4/MT5, you can set global variables, which are stored in MT4/MT5 itself independently of programs such as Expert Advisors (EA) and indicators.

Prevent objects to be taken over when switching charts

Here we'll look over the steps on the setting to prevent objects from being taken over when switching charts on MetaTrader4 (MT4) app for Android mobile devices. Turn on the Independent charts feature to prevent objects from being taken over when switching charts.

Display arrowed line

Here we'll look over the steps on how to display an arrowed line on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. This object is used to determine market direction and turning points.

Draw equidistant channel

Here we'll look over the steps on how to display the equidistant channel on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. Equidistant channel is an object that lets you visually grasp the range of price movements in a trending market with two parallel lines. The second line parallel to the trendline is called the channel line. Draw the trendline first, then adjust the channel line accordingly. It helps you identify the dip and rally as well as to read the trend.

Draw Gann grid

Here we'll look over the steps on how to display the Gann grid on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. The Gann grid takes the Grid line and places it evenly across the chart diagonally. Intersections of the grid are often used to determine support and resistance levels.

Delete indicator

Here we'll look over the steps on how to delete an indicator on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. There are 30 types of indicators available on charts: 7 trend indicators, 13 oscillator indicators, 4 volume indicators, and 6 Bill Williams indicators.

Use indicator

Here we'll look over the steps on how to use an indicator on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. There are 30 types of indicators available on charts: 7 trend indicators, 13 oscillator indicators, 4 volume indicators, and 6 Bill Williams indicators.

Draw Andrews' Pitchfork

Here we'll look over the steps on how to display the Andrews' Pitchfork on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. The Andrews' Pitchfork is made up of 3 parallel lines. The line on top represents the resistance line and the bottom represents the support line. You can use this to predict the trend direction, strength, and changes.

Draw regression channel

Here we'll look over the steps on how to display the regression channel on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. The regression channel, also known as a linear regression trend, differs from the trendline in that it is drawn between prices. The line above represents the resistance line and the bottom line represents the support line. You can use these to predict the trend direction and breakpoints.

Draw standard deviation channel

Here we'll look over the steps on how to display the standard deviation channel on the chart in MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. The standard deviation channel is a technical indicator based on the regression channel and standard deviation. It is made up of 3 lines, the linear regression line and the 2 lines above and below it. Unlike the regression channel, the locations of the 2 lines are calculated using the standard deviation. Similar to the regression channel, the line above represents the resistance line and the bottom line represents the support line.

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