The MetaTrader 5 is the latest in a long line of highly evolved trading applications, which have had a profound impact within the market and emerged as some of the most popular trading tools available. While the fourth application in the series may have dominated the market, however, its successor features a number of enhancements that deliver even greater benefits to users.
More specifically, the MetaTrader 5 application includes a total of more than 30 independent technical indicators, each of which interprets real time and insightful market data that is then delivered directly to your interface. As a collective, these tools only serve to enhance the performance of your trading portfolio, while also enabling you to develop a greater understanding of the financial markets.
The MetaTrader 5: How its Technical Indicators are Classified
With so many technical indicators included, it is worth noting that they are divided into four individual categories. These are trend indicators, oscillators, volume indicators and indicators by Bill Williams, and each fulfills a specific purpose on behalf of the user. That said, it is the first two categories that account for 20 of the 30 technical indicators providers, as these evaluate specific market trends and highlight any price deviation from the average value of a financial product.
It is therefore these technical indicators that distinguish the MetaTrader 5 from similar products in the market, as few rival applications offer such a comprehensive suite of analytical tools. Perhaps the most widely utilized is the Average Directional Movement Index Technical Indicator (ADX), which can be used to analyze a particular instrument or derivative product to determine if there is an existing price trend.
This simple but effective tool essentially compares two separate direction indicators, in much the same way that the Momentum Technical Indicator determines the fluctuation in a security’s price over a designated period of time. This type of analytical feature accumulates fascinating market data, but unlike most trading applications the MetaTrader 5 is able to deliver this in an easy to comprehend and time effective manner.
Summarizing the Appeal of MT5
These technical indicators are key to the popular appeal of the MetaTrader 5, which promises to eventually outperform its predecessor in terms of downloads (time will tell!). In addition to an outstanding array of analytical tools, the MetaTrader 5 application can also be operated in a simulated market environment. This means that traders who are starting out can speculate and practice demo trading using MetaTrader 5 software (view link for details) thus averting any initial outlay or risk to investments whilst they gain the familiarity they need to master its unique tools and interface.
The capacity to trade through a demo account is particularly useful for traders, especially given the wide selection of technical indicators and tools that are accessible. Even experienced market players can benefit from understanding the function of useful indicators, and more specifically determining how they would like relevant data, trends and statistics to be presented.