MetaTrader 4(MT4) is nothing but a trading platform introduced by MetaQuotes in 2005. Although it is generally correlated with forex trading, you can use MetaTrader 4 to trade a range of markets along with forex, indices, cryptocurrencies, and commodities, through CFDs.
MetaTrader 4 is very popular due to the point that it can be customized as per your trading choices. It can also be used to automate your trading by using algorithms that open and close trades in your place according to a list of fixed parameters.
This article is going to give you a clear idea about the best trading strategies for MetaTrader 4.
The trading strategies for MetaTrader 4
There are a lot of trading strategies that are used by MT4 and can be downloaded. Some of them are as follows:
- 4TF-HAS with Pin Bar Detector Strategy For MT4
This is a completely pure price action system as it keeps its faith in the pin bar as a trade signal and utilizes the Heiken Ashi technique.
If you want to manage trades that will not be a reward-to-risk ratio. Most of it is attributable to its high achievement ratio. Counting on the time frame and the currency pair, this system will be able to allow up to a 1:2 reward-to-risk ratio.
For instance, The EUR USD will be able to target 10 pips on the 15-minute diagram along with a stop-loss of 20 pips, but on a greater time frame like the daily, it can target 50 pips with a stop-loss of 70.
The diagram that designs the stop-loss and take-profit levels are as follows:
Stop-losses are also authorized to be moved at the breakeven point after acquiring a specific amount of pips, and this is generally between 60% to 80% of the revenue target.
- ABC Pattern or the 123 chart pattern Strategy For MT4
This chart pattern can stand alone and provide a workable trading method itself. The traders frequently keep their eyes on it as its construction has a tremendous degree of anticipating reversals.
- Bollinger Bands with Patterns indicators Strategy For MT4
The Bollinger Bands came up with the Patterns Indicators Strategy for MT4. It is a trading system that can virtually stand on its own. Truly speaking, it is one of those basic and also widely used varieties of pointers for scalping. However, the perpetual function of a trader in every business is to improve the percentage of achieving the most preferable result. It is the main purpose of this Bollinger Bands along with Patterns Indicators strategy. Along with the two indicators, this system makes use of price patterns and comes up with a completely more potential trading procedure.
- Camarilla Equation Levels Strategy For MT4
The trading system, Camarilla Equation Levels Strategy For MT4 concentrated on creating main support and opposition areas by using three price metrics: high, low, and close. The traders can get outstanding price action trading chances for the levels that the Camarilla Equation produces. The traders who specifically do intraday trading are highly benefitted.
- Engulfing Pattern with MACD Strategy For MT4
The Engulfing Pattern with MACD Strategy For MT4 is a popular trading strategy that is based on the engulfing candlestick pattern and the MACD. The fascinating enigma about the engulfing pattern is that it might be both alarming and positive for the bulls — ditto for the bears. It is not one of those patterns that imply only one thing as it is categorized into two: bullish or bearish.
- Fibopivot Channel Strategy Trading System For MT4
The Fibopivot Channel Strategy Trading System For MT4 is one of the most popular ways of trading pivot points. It is a system that does not agree with the usual way pivot points are marketed as it contains the Moving Average Convergence Divergence (MACD) indicator to verify trade entries.
- Gartley Pattern Strategy For MT4
The Gartley Pattern Strategy For MT4 is a complete price action system that makes use of the Gartley pattern to point to optimal support and opposition levels. This strategy utilizes no other technical indicator except the Gartley indicator itself and can be connected to all markets but is very much famous in Forex trading.
Conclusion
We have given all the details about the best trading strategy for MetaTrader 4. Now you have to go through this article to have a clear idea about it.
