MetaTrader 4 Supreme Edition Plugin: A Complete Guide
The trading platform provides live streaming of prices and charts, a portal to place orders and also functionality to manage exposures and accounts with the chosen broker.
As far as the speculative trader is concerned, MT4’s most popular capability was giving the option to users to put together personalized trading scripts, with the use of robots to automate trading, supporting the increased popularity of algorithmic trading.
While MT4 was released back in 2005, the release of MetaTrader 5 in 2010 proved to be less popular, with MT4 to continue as the platform of choice until the release of MT4 Special Edition plug-in.
MetaTrader Supreme Edition
MetaTrader 4 Supreme Editionwas developed not to replace the key capabilities of the original MT4 platform, but to enhance the existing offerings, with features that are most certainly going to give the Supreme Edition platform significant advantages, bringing Admiral Markets the prospects of more accolades in the Forex world.
The MT4 and MT5 Supreme Edition plug-ins were designed as stand-alone platforms, with traders being able to enter two types of orders – pending and market orders. While pending orders are only executed when prices reach a chosen target price, market orders offer four methods of execution.
Some of the key features of the MT4 platform that marry particularly well with the additional features of the MT4 Supreme Edition plug-in include:
Instant execution: Order is executed at the price indicated at the time of placing the order, instant execution is popular because of the execution price being known at the time of placing the order. For instance, if you decide to purchase Bitcoin or Etheuem, you will an instant execution of the available price.
Request execution: This is a two-step process, the first being a price request, the final step being the trader’s decision on whether to execute the order at the provided price or to decline. The advantage of request execution is a guarantee of the order being fulfilled at the price quoted.
Market execution: Orders are executed at the broker ’s price, which may differ from what is shown on the trading platform, the disadvantage being a possible deviation from the displayed price during the periods of heightened volatility.
Exchange execution: The order is executed by the exchange, with the speed and price determined by market depth.
Admiral Markets’ MT4 Supreme Edition plug-in includes additional 60+ features that are unavailable on the standard MT platforms. Some attractive functionalities to make the trading experience all the more seamless include:
Sentiment Trader: Shows the sentiment of worldwide traders towards financial instruments, both current and historical, plotted against the price and any open positions of a particular instrument. For instance, the general sentiment on a particular currency pair: EUR/USD, GBP/USD, USD/JPY, etc.
Trade Terminal: Provides an efficient way to manage all your accounts and orders, allowing traders to place multiple instrument orders at the same time. The features of the Supreme Edition Trade Terminal include trade calculators used to calculate stop-losses as well as all of the features available on the Mini Terminal.
Mini Terminal: A trading tool that allows you to open and manage trading positions, with one-click trade management including but not limited to the following functionalities:
- Reverse is an option to instantaneously close a trade and open the same position in the opposite direction.
- Close all losers close positions in the red, Close all winners that close positions in the money, and a Close all option that allows you to close out all your positions with a single click of a button.
- Delete pending orders deletes only pending orders.
- Hedge gives you the option to execute an order of identical volume on the opposite side of the market, without closing the current one.
Indicator Packagecontains a large collection of valuable indicators designed to help traders, including but not limited to:
- Candle Countdown
- Chart Grouping
- Day Session
- Freehand Drawing
- Order History
- Pivot Points
- Renko Chart
Admiral Connect allows users to display news feeds in real time, with an option to customize which feeds to follow, including multiple multi-language options.