MetaTrader 5 XAUUSD Trading Software Tutorial
The MT5 Navigator window is mainly used to navigate the most widely used areas of the MT5 Platform. These areas are:
- Accounts: Demo and Live Accounts
- Indicators
- Automated Gold Trading Expert Advisors: A list of automated xauusd trading robots within this MetaTrader 5 Gold Trading Platform
- Custom Indicators:
- Scripts: Scripts are used to execute some tasks on the MetaTrader 5
As a gold trader once you have selected the Navigator Button the following navigator window will appear on your MT5.
MT5 Navigator
The First menu option on the Navigator list is the Accounts tab. To view the accounts tab, you can click the expand button (marked as +), and a list of your saved accounts will appear. Every time you login with a new MetaTrader 5 account the details will be saved under this "Accounts Tab".
By double clicking on any MetaTrader 5 account you can activate the login and login to that account. You can switch from one MetaTrader 5 account to the other using this xauusd trading accounts tab.
The example illustrated and explained below shows two accounts recorded under this tab, a demo MetaTrader 5 account marked as a green cartoon and a Live MetaTrader 5 account marked as a gold cartoon. From this xauusd trading accounts tab, a gold trader can switch between any of this two accounts by double clicking on any one of them.
Indicators, Automated XAUUSD Trading Expert Advisors, Custom Indicators and Scripts
- Indicators
- Automated Gold Trading Expert Advisors: A list of automated xauusd trading robots within this MetaTrader 5 Gold Trading Platform
- Custom Indicators:
- Scripts: Scripts are used to execute some tasks on the MetaTrader 5
The above are shown below on the screenshot, to view more option under each of these, traders click the expand button "+ button", this will show more options, to hide, just click the "- button". For example the "Automated Gold Trading Expert Advisors" option below has been expanded.
These topics will be covered in more details later, but for now as a gold trader the following brief introduction about each will do.
Indicators: Indicators are xauusd trading analysis tools used in trading and placed on Gold Trading chart, these tools are used to generate buy and sell signals.
Automated Gold Trading Expert Advisors: Automated Trading robots that are used to place xauusd trades by generating buy and sell signal automatically using programs that are coded using the MQL4 programming language.
Custom Indicators: A custom indicator includes an indicator that you have modified or downloaded from the internet and then installed it on your MT5 Gold Trading Platform, this indicator will be listed here as a "custom indicator"
Scripts: This is a function used to perform a certain task, for example if you open five xauusd trades and want to close all of them at once you can attach a "script close" on your chart thereby closing all open xauusd trades at once (However, you need to set up some setting on the MetaTrader to allow scripts execution trading, that is a topic for later.)
The Navigator will be one of your mainly used when trading, to access it using a shortcut, press "Ctrl+N" button on your keyboard to display or hide it.
