MetaTrader 4 (MT4) is known for its user-friendly interface, advanced charting tools, and the ability to use automated trading strategies. However, with the right add-ons and plugins, traders can potentially enhance their trading experience on the platform even further. In this blog post, we will discuss nine options for MT4 add-ons and plugins.
Autochartist is a powerful tool that scans the market for potential trade opportunities and alerts traders when a pattern is identified. The tool is fully integrated into MT4 and provides traders with accurate market analysis and trading signals. Autochartist is an excellent tool for traders who don't have the time to analyse the markets themselves and is free when you open an account with CMC Markets.
For more information on Autochartist, check here.
2. MT4 Virtual Private Server (VPS)
MT4 VPS is a hosting service that allows traders to run their trading strategies 24/7. With MT4 VPS, traders can run their Expert Advisors (EAs) and automated trading strategies on a remote server, ensuring that their trading strategies run smoothly and without interruption. MT4 VPS is for traders who want to trade around the clock without worrying about power outages or internet disruptions.
3. Stealth Orders
Part of our FX Blue package, Stealth Orders is a potentially useful tool for traders who want to keep their trading strategies and positions private. With Stealth Orders, traders can hide their orders from the market and ensure that their trading activity remains confidential. This add-on can be useful for traders who use large trading volumes and want to avoid moving the market.
4. MT4 Sentiment Trader
The MT4 Sentiment Trader can be a useful tool for traders who want to understand the market sentiment. The indicator shows the percentage of traders who are long and short on a particular currency pair. Traders can use this information to identify potential trading opportunities and make informed trading decisions.
For more on Sentiment Trader, check here
5. One-Click Trading
One-Click Trading is for traders who want to enter and exit trades quickly. With One-Click Trading, traders can open and close trades with just one click of a button, eliminating the need to navigate through multiple menus and screens. This tool is can be especially useful for traders who use scalping strategies.
6. Correlation Matrix
The Correlation Matrix is a tool that helps traders identify the correlation between different currency pairs. The tool displays the correlation coefficient between different currency pairs, helping traders identify potential trading opportunities and manage risk effectively.
7. The Mini Terminal
The Mini Terminal is a multi-purpose application designed to help you trade more efficiently with better tools and better information.
8. Alert Manager
The Alert Manager is like a personal trading assistant. It can notify you of events on your account or in the market. It can carry out automated actions and it can automatically communicate via email or SMS.
9. Excel RTD
Excel RTD allows traders to export their trading data to Excel for further analysis. With MT4 Excel, traders can analyse their trading performance, backtest their trading strategies, and identify potential areas for improvement.
The Bottom Line
From Autochartist to One-Click trading, these are just some of the many add-ons and plugins available for MT4. With the right combination of tools, traders can potentially enhance their trading experience and take their trading to the next level. To find out more about MT4 add-ons and plugins, check out our full range of MT4 indicators and add-ons.