[dropcap]W[/dropcap]hen trading on popular trading platforms like Metatrader 4 for PC, you can implement various strategies to achieve winning trades consistently. However, some strategies are more effective on specific platforms. For instance, what works on MT4 won’t work on MT5.
With Metatrader4, it’s possible to implement even the most complex strategies. The platform boasts some of the most powerful features available to traders worldwide. Its desktop version integrates seamlessly with mobile apps for iOS and Android. You also enjoy access to trading robots, an instant execution feature, chart trading, and many other useful tools.
The platform boasts the most impressive analytical tools that allow you to implement various strategies effectively. There are interactive charts to help you to make the most of your strategies. Meanwhile, integrated technical indicators simplify your planning.
Moreover, you can access expert advisors via MT4’s built-in market. Its algorithmic trading feature can turn any trading strategy into an expert advisor for your convenience. A trading robot eliminates the need to do everything by automating key processes. For this reason, you don’t have to worry about handling market analysis.
MT4 supports many strategies, thanks to the availability of indicators. Unsurprisingly, an ever-increasing number of traders use RSI, moving averages, and MCD to implement trading strategies. The good thing is that you’ll find multiple winning strategies that work seamlessly with these indicators.
Examples of top MT4 indicators and trading strategies include:
– Histogram market profile indicator
– Forex multi-stochastic system
– Dragon Fire trend trading system
– Forex King trading system
– Fibonacci miracle trading strategy
Here’s a closer look at the strategies and indicators
Fibonacci Miracle trading strategy
With this MT4 strategy, you can eliminate market noise and focus on the finer details that impact your trades. When you combine it with other strategies and tools, it becomes easier to identify the best entry and exit points for particular trades. In this case, you achieve the best results by moving in tandem with market trends.
This approach enables you to plot entry points in addition to a stop loss point and two levels to take profit. These two take-profit points include one average point and an aggressive level.
Dragon fire trend trading system
Identifying an ongoing trend can be a crucial action when looking to make informed trading decisions. The dragon fire trend strategy detects trends using a PLT indicator. It filters specific events to identify current trends. In turn, you’ll make the right call when it comes to determining the most effective trade approach.
One of the key things about this system is that the dragon fire template is transparent to prevent cluttering the chart. That way, you don’t get lost in a maze of data points. The best time frames to implement this strategy are 30 minutes and over. Dragon fire trend trading system is ideal for any forex trading pair.
Forex king trading strategy
With this system, you implement the trend momentum strategy more effectively. You do this based on moving averages like RSI, MACD, and TDI. This strategy heavily relies on the Renko chart, candlesticks, and bar charts to ensure accuracy. As you follow trends, the Renko chart eliminates the need to check the slow average of 200 periods.
Time frames best suited to the forex king strategy start at 15 minutes and higher. If you’ve adopted a narrow spread, it’s practical to use the system with any instrument.
Multi-stochastic trading strategy
This strategy helps identify lucrative trading opportunities in MT4. You can open a trading position whenever the indicators known as slow and fast stochastics converge at or closer to the limit values. Doing so enhances your chances of closing in a winning position.
The multi-stochastic trading strategy takes advantage of historical data to ensure accuracy. You’ll find it easier to detect current patterns in the forex market.
Histogram market profile
The histogram market profile indicator lets you identify the price levels and points with increased trading activity. It achieves this objective using a histogram that displays key insights regarding market conditions. You can easily detect the level where massive price action occurs. As a result, you benefit from a more accurate price action analysis. What’s more, it’s useful for all markets, including indices, forex, stocks, and others.
