MetaTrader 4 indicators and add-ons
MetaTrader 4 indicators and add-ons enable you to customise your experience while using the MT4 platform. Learn what the different MT4 indicators and add-ons are, what they do, and where you can download them.
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What are MetaTrader 4 indicators?
MetaTrader 4 indicators are powerful technical analysis tools which can help you to identify market trends and provide evidence for your predictions about future price movements.
When you download MT4 from IG, you get six of the most popular indicators on the MT4 platform for free.
What are MetaTrader 4 add-ons?
As well as the free indicators offered by IG, you will also get access to 12 of the most used MT4 add-ons. MT4 add-ons enable you to customise the MT4 platform to better suit your individual trading needs.
Each MetaTrader 4 indicator or add-on has a specific purpose, so you may want to combine a few of them to implement the ideal strategy for you.
What is Signal centre
Short-Term Trading Ideas and MT4 Financial Signals For the short-term trader, Signal Centre publish trade ideas that have a longer projected time scale. These reports are sent directly by email, or through MT4, with a specified trigger level, 2 target levels, a stop loss level and an analyst confidence level.
Although a target and stop loss level are published in the idea, these can be adjusted as directed in live updates. The performance report is based on the opening level and either the stop, 1st target or closing price. Although a target and stop loss level are published in the idea, these can be adjusted as directed in live updates
Download MetaTrader 4 indicators and add-ons
To get IG’s free indicators and add-ons, you’ll need to create an MT4 account with IG; this can be either an MT4 demo account or a live account and there is more information on how to set these accounts up on our MT4 download page. Regardless of the account you open, you will be able to try out, test and use IG’s indicators and add-ons.
However, as well as the free add-ons and indicators you get from IG, you can also download additional ones or even make your own. Other available add-ons include software to help you with Elliott wave theory, and programs to identify levels of support and resistance.
To access the indicators and add-ons within the MT4 platform, simply go to the ‘navigator’ window at the top left of your screen and open the ‘indicators’ folder. You then drag the indicator that you want onto a price chart and a window will pop up for you to decide the parameters that you wish to set.
MetaTrader 4 indicators
You get a number of free indicators when you download MT4 from IG. These are powerful technical analysis tools, which can help you to see your past successes and failures on MT4 charts, add pivot points and alerts, take a look at historic highs and lows, plus much more. Below are six of the most popular indicators that you get for free from IG.
Order history indicator
Examine any of your previous trades, overlaid onto MT4’s charts – so you can replicate your successes and learn from your failures.
Pivot points indicator
Gauge market movement with pivot points and add alerts if they are needed.
High-low indicator
Find historic highs and lows on any chart, for any timeframe.
Renko indicator
Overlay any chart with Renko bars to analyse price movements with ease.
Chart group indicator
Link charts together, so that changing the symbol on one changes it for all.
Freehand drawing indicator
Draw on any chart completely freehand, at the press of a single button.
MetaTrader 4 add-ons
You’ll also receive more than 12 add-ons when you download MT4 rom IG. These enable you to customise the platform to your own preferences and trading needs. Below are some of the most used add-ons that IG offers for free.
Mini terminal
Lets you adapt MT4’s deal ticket and charts to your preferences with a host of highly configurable new features.
- Offering superior deal ticket functionality compared to the standard MT4 deal ticket
- See your entries, stops and limits displayed on charts
- Switch between pips and cash when viewing running profit or loss
- Undock charts from MT4 to view as part of your desktop
- Access interactive smart lines directly on charts when you create stops or limits
Trade terminal
Controls all of your trades from a single, powerful window.
- See an improved deal ticket with more detail, including the spread
- Access configurable risk management tools
- Create alerts based on account activity
- Carry out bulk actions on all your open positions
- Save trades as templates, including advanced order types like breakouts and reversions
Stealth orders
Let’s you keep your trades anonymous.
- Place stops or limit orders automatically using the app
- Add stop-losses and limits to your positions
Correlation matrix
Enables you to see how correlated your watched markets are, and limit your risk accordingly.
- Spot correlations at a glance
- Configure by timeframe or number of bars
Alarm manager
Manage all your alerts, or create new ones, in a single window.
- Set up notifications for a range of scenarios with automatic actions
- Create alerts using technical indicators
- View and edit alerts that you’ve created elsewhere
Connect
See the latest news and upcoming market events in your trading platform.
- Add newsfeeds via RSS
- Access a detailed events calendar
- Real-time currency news from DailyFX
Market manager
Is a way to filter markets, view account details and check your open positions in one place.
Sentiment trader
Can analyse market sentiment or view a historic price vs sentiment chart.
Tick chart trader
View a variety of tick charts and a new deal ticket for short term traders.
Correlation trader
Looks at the correlations between any two markets.
Candle countdown
You can see the time remaining in the current bar for a variety of timeframes.
Session map
Shows you which market is currently open, whether that be New York, London or Tokyo.
What is Autochartist?
When you download MT4 from IG, you get free access to Autochartist. Autochartist is a powerful pattern-recognition tool which automatically monitors the markets on your behalf. Its software is designed to identify trading opportunities for you based on support and resistance levels. It does this 24 hours a day and gives you price alerts whenever a new opportunity presents itself.
Autochartist can be found on the MT4 platform by going to the ‘navigator’ window and clicking on ‘scripts’.
How do you use Expert Advisors1?
Expert Advisors1 are programs which enable you to automate your trading in MT4. Expert Advisors1 (EAs) can be found in the ‘navigator’ tab to the top left of the screen within MetaTrader 4. When you download MT4 from IG, you get two EAs already installed: MACD Sample and Moving Average.
To activate either one of these EAs on a particular price chart, you first need to make sure that the ‘auto trading’ function found in the top toolbar is enabled.
Next, simply drag one of the EAs from the navigator window onto an open price chart.
You can see if it has been activated or not by a smiley face icon in the top right corner of the price chart onto which you applied the EA.
1 Expert Advisors are provided on a discretionary basis. Please, contact helpdesk.en@ig.com to request for EA enabling.
FAQs
What MT4 indicators can I use to see support and resistance levels?
Notable addons and indicators that can be used to identify levels of support and resistance include ‘Support Resistance Indicator’ and ‘Support Resistance’.
Autochartist is also capable of identifying support and resistance levels. This is because Autochartist effectively performs the function of multiple indicators at once thanks to its advanced pattern-recognition software.
Which MT4 indicators can I use for commodities trading?
Moving Averages is one of the most popular MT4 indicators and can be used in commodity trading. It gives you the ability to gauge the direction of the current market trends, enabling you to spot swing lows and swing highs as periods of buying and selling.
Moving Averages is available in the Expert Advisors tab of the navigator window.
How do I create my own custom indicator?
As well as downloading existing indicators and installing them onto your MT4, you can build your own custom indicators. The process for creating a custom indicator is similar to that for creating an Expert Advisor. To do this, press F4 on the keyboard within the MT4 platform, which will bring up the MetaEditor display. In the MetaEditor display, click on ‘New’.
This will bring up the MQL Wizard, where you can create your own custom indicators.
How do I install an MT4 indicator?
To install an indicator onto MT4, you’ll need to copy the indicator file into a folder called ‘indicators’, which you’ll find by clicking ‘file’ in the top navigation bar and then selecting ‘open data folder’.
Can I try out MT4 indicators on an MT4 demo account?
Yes, you can install all our free indicators and apps in an MT4 demo to test-drive them without committing any capital.
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