Options Settings Window on Tools Menu on MT4 Platform

The options button is used for a variety of numerous different tasks on the MT4. The options button is listed within the tools menu in the MT4 like illustrated below. The Short-cut keys for this - Ctrl+O.

MT4 Options Settings

These are displayed below: the list of the various different buttons are shown as tabs like is displayed & shown on screen shot below. To edit something on this window panel click on of these buttons & then change the settings.

Server

The server settings for MT4 are illustrated below. One can edit from this tab, but most times it is not necessary as these options are automatically preset to the online brokers' server parameters by the online broker & there's no need to re-adjust them. However, just for lesson purposes, Server will explain the server of your stock broker & if it's a Practice Demo or a Real Server. The account sign in and password will also be illustrated & displayed below and as a stock index trader you as a Stock Index trader can change the password from this window for demo stock accounts, however be careful if you're changing passwords particulars make sure to remember them.

Other options are, enable proxy server, this isn't required, Keep personal info at start up, this is checked by default, that way the software will automatically remember your sign in and password so that as you do not have to type them every time you login to your platform. Enable DDE server isn't required, Enable news is checked and you as a indices trader can use to receive real time news reports to your MT4 on the News options, located in Terminal window, (Short-cut Key Ctrl+T).

Chart

following are marked and labeled on Charts Options

Show Trade Levels - These lines will explain the levels where the orders were placed, it will also explain levels where pending stock orders are set. This will also show the TP Order & Stop Loss Order areas. These trade levels lines appear as red broken lines marking these levels.

If there is no open position, no level will be illustrated: if many trades have been opened, multiple lines will be displayed for these zones.

Use Alt key to drag trade areas isn't a very suitable option to use, because if you place many orders you might change wrong order, henceforth it's best to leave this as it's and not change it (Probability of this losing you funds is there so leave as it is)

Show OHCL - Show Opening, High, Closing & Low Prices for every candle

Show Ask Line - Show the Bid Price, (no need for this)

Show period separators - a separator will draw a line where the day chart starts and ends, for example if you trade with 5 minutes, 15 min or 1 H Charts the period separator will draw a vertical line when the stock trading market closes for each day. (4H separator is Weekly, for Daily and Weekly separator is Monthly).

Color Print - To print in color and not black white which's set by default, use this option & then next time you print it will be a colored print and not black & white.

Save the deleted charts to reopen - Save all charts which are deleted and these can be accessed later at any other time within the platform.

Maximum bars in History, Max bars on Chart - To save computer resources RAM, Processor Speed & Hard disk Space, these bars stored are limited to a specific number that is optimum ideal, it's best to use default number selected.

Objects

These are:

Show properties after creation - immediately show indicator/line tool settings after it is added on chart to facilitate the editing of their parameters settings.

Choose & Select Object after creation - a indicator/line tool can be chosen by doubleclicking on it once it's plotted, to facilitate editing of its properties.

Select & Choose object by single mouse click - select a technical indicator/line tool using single mouse press not double-clicking, double clicking will explain properties window of indicator/line tool

Magnet Sensitivity - immediately draw a line indicator to the nearest low or high that's within 10 pixels of the point selected. This allows for lines plotted to more or less be placed on the levels they are intended without much editing by aligning the lines to the nearest high or low of price.

Trade

These are the default used by the platform to determine what instrument you buy and what amount you buy.

Quote by Default - Automatically set to the open the chart that you have open

Size by default - Automatically use the last lot size, or set every trade to be default of 1 lot or 2 lots or 1 micro lot or 2 micro lots by choose the default button key and then selecting the number of lots from the drop don list next to this option.

Deviation - Set the allowed number of pips which can move away when executing an order for example 2 pips, or zero pips if you as the trader want to specify to place trade positions at the exact level where you press.

One Click trading - Place trades buy or sell with one press. (don't use this option as it's prone to mistakes & no time to correct, this option can lose you money.)

EAs

EAs window is displayed below:

following options are used:

Enable EAs - Allow for Expert Advisor to be set on chart for automated trade execution purposes

Disable experts when accounts have been changed - login to a different account deactivates EAs

Disable Experts when the profile has been changed - When you change profiles the Expert Advisors setting for allowing automated EA trading on new profile is deactivated until you allow and manually place an Automated Expert Advisor in this new opened chart.

Allow Live Trading - Give Permission to Automated Expert Advisor to open trade positions on the live stock market.

(Ask Manual Confirmation - no needs for this if you're using Automated Expert Advisors, leave this as it's portrayed without checking it.)

Allow DLL Import - Dynamic Link Libraries, which are external, unless its required it should be left unchecked/unticked. (External means that these libraries are referenced from a source external & outside your PC computer, so you should try to be careful with this one)

Confirm the DLL functions calls - Exercise manual permission for each and every function call, either allow it or disallow it based on your set trade parameters.

Allow External Experts imports - This is used to allow your Expert Advisor to reference some information from another EA that's in another place, away from your PC computer, (External means these Expert Advisor Bots are referenced from external sources outside of your PC computer, so be careful on this option)

Notifications

To receive notification to your mobile phone from your MetaTrader 4 platform, use the notifications option shown below. Note that you as a trader require to obtain a signup sign up ID, from Meta Quotes to start receiving the notifications sent directly to your mobile phone via text/sms messages.

Check/Tick the option/choice, Enable Push Notifications, put your ID, press test & you should receive a test notification text message. You first require to register for this ID, to do so, use the following window on your MetaTrader 4 and follow the instruction you will get from this Notification panel window.

E-mail Settings

Most traders may not really require this, but if you're one of the ones that require, the settings can be set below.

Lets use this company, which owns this website, www.tradestockindices.com, click and check the button key labeled "Enable" the respective mail settings and parameters are illustrated below & the SMTP setting is "SMTP: Port 465", Choose and put these like illustrated below. Click test & check your e mail inbox to confirm that you get the message.

Events

Events in MT4 are notifications, either sound notification, an E-Mail or SMS alert. The notifications can be placed for various types of events such as time-out, connect, disconnect, news, Expert Advisor, EA confirmation, price level alert and requote alert.

The various different types of alerts actions that can be set for any particular event can be chosen and selected by double-clicking on the event action, pressing the drop-down arrow and then selecting the alert action that you want from the dropdown list illustrated and shown below.

MQL5 EA Robots Forum

The MQL5 community forum is a forum where traders can find others and Exchange Expert Advisors & Signals with each other. Traders have to register to this forum & can then access services from their platform software directly. To get details & particulars on how to access & register in this forum, login to your MetaTrader 4 software & navigate to panel window shown below and follow the instructions.

Trading Signals

signal settings are provided for by MQ5, MQL5.com is the developer of MetaTrader Platform. The trading Signal service allows the Stock Index traders to adjust the following:

Signal - First Subscribe to a trade signal

Agree to the Terms - Agree to the terms of using the copy trade signal service

Enable Real Time signal subscription - allow real time transmission of signals to your platform.

Use Trusted Execution Token(T.E.T.) - Trusted execution token means you do not have to open your MT4 on your PC computer to have signals executed, Trusted Execution Token will allow signals to be executed even if your MetaTrader 4 isn't started in your PC Desktop computer.

Copy Stop Loss Order & TakeProfit Order Areas - Copy these levels from the copy trade signal provider automatically.

Use no more than - Option for money management, set an amount of 10% for aggressive traders and 5% for non-aggressive traders, that way you limit your risk capital in your account.

Stop if the equity is less than - Place a percentage to calculate this level for example if your capital is $10,000 then use 70 %, that's $7,000 and set this amount: if the trade signal makes a loss upto this point the trading signal execution is stopped.

Deviation/Slippage - you as a Stock Index trader can set a value like 2 so as to give some flexibility in case of slippage of a few pips here and there when executing trades with your online broker, especially if your online broker is one of those that re-quotes you. (Get an STP Online Broker with No-Requotes Policy to guarantee execution of your trades & avoid these slippages).

Study More Tutorials & Topics:

Trade Stock Indices