ts geographical dispersion, trillion-dollar daily trading volume, and round-the-clock movement throughout the week positions the Forex market on most traders’ watchlists.
The Forex market’s sheer size and continuous order flow, however, can make it difficult to stay informed through a single monitor.
Multiple monitors provide a greater workspace, particularly convenient if you operate with different technical indicators requiring split windows.
With MetaTrader 4 (MT4), detaching charts or other screen objects is not possible, at least not natively. Fortunately, MT5 includes native support, giving you the freedom to detach charts from the trading terminal window.
The layout of your screens will largely be determined on your trading strategy (trading system). In general, though, you want to be able to view all trading operations, including current price charts (bid price/ask price), applied graphical objects, news, and alarms.
To undock charts on the MT5 platform, you simply right-click the symbol of choice and select Docked. This will release the chart, enabling you to move it freely between other monitors (Figure A).
MT5 also comes with a handy feature called ‘chart within a chart’. This is useful for creating a compact chart that overlays another open chart, making it possible to observe two timeframes of the same asset on one chart. This can be beneficial for scalpers and day traders.
Creating a chart within a chart:
For any version of Windows 7 Ultimate, Windows 7 Enterprise, or Windows 10, you can instruct Remote Desktop Connection to use all monitors.
Using multiple monitors on MetaTrader 5 in a remote desktop session is much like doing so on your own personal computer. You will be able to unpin charts and transfer them to different monitors, allowing you to keep track of different assets and timeframes with ease.
Multiple monitors improve your ability to maintain real-time monitoring of open positions, observe the different order types in use (Buy Stop, Sell Stop, Buy Limit, Sell Limit, Stop-Loss, Take-Profit, for example) as well as all financial markets and timeframes followed.
If you do a lot of scripting with MQL5 programming language, the MT5 equivalent of MQL4, multi-screen traders may desire a separate window for the MQL5 editor. MQL5 can be used to develop custom indicators (expert advisors – trading robots).
Having a dedicated window for a strategy tester is also an idea for those who regularly backtest trading signals.
MT5 is a flexible, technologically advanced, platform, offering control over the graphical environment and, with FP Markets, comes with a broad range of trading instruments to choose from, including Forex, Indices, Commodities, and Cryptocurrencies.
FP Markets also facilitates access to different mobile devices and operating systems, including Webtrader (browsers supported: Chrome, Firefox, Safari, IE 10+), iOS (system requirements: iPhone iOS 7.0 or later. Compatible with iPhone, iPad, and iPod touch) and Android (system requirements: Android 4.0 or higher. Download from Google Play).
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