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MT4 Templates – A beginner’s guide to using templates with Metatrader 4

MT4 templates is a unique feature offered by the Metatrader 4 (and even Metatrader 5) trading platform. For a complete beginner, the template functionality might seem a bit confusing. But it is very useful, especially if you have custom set ups or require custom indicators. Using the templates feature, you can easily switch between different types of technical analysis as well. In this article, we walk you through the MT4 template features and how can you use this to your advantage.

Getting started with using MT4 templates

When you download the MT4 trading platform for the very first time, chances are that you might seem different types of charts. Each of these chart types might also have different set of indicators and at times even different time frames.

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01 MT4 templates

Example of MT4 Templates

These various charts are nothing but the default templates that come pre-packaged with the MT4 installation. In fact, if you right click on the chart and click on templates, you can see the list of default templates that are available.

02 Coosing MT4 templates

Choosing MT4 Templates

When you click on any of these templates, you can see that your chat is loaded with different set of indicators. If you are confused about this, then little did you know that the templates is a great functionality that you will love if you really like forex trading. But before we get into the details, let’s talk a bit about what are MT4 templates and what purpose is serves.

What are MT4 templates?

The Mt4 templates is a functionality from the Metatrader 4 trading platform. Using the templates feature, traders can save their chart settings to be used over and over again. Thus, you only need to configure your MT4 charts just once, save it as a template and you are done. This can be a big time saver.

Traders love the MT4 template feature for a number of reasons. This can be from creating their own chart themes using different color combinations to using the MT4 templates feature to create a trading strategy or a trading system itself.

If you trade with more than two indicators, chances are that it can be quite cumbersome to re-configure the indicators, chart time frames over and over again. Using the MT4 templates function this can be reduced to just a few clicks.

The best part is that the templates can also be exported. This means that once the template is saved, you can use the template file and send it to your friends.

The MT4 template is saved in .tpl format. These files are saved in the Template folder of your MT4 installation. By default, the MT4 installation has the following templates installed:

  • ADX.tpl
  • BollingerBands.tpl
  • Layers.tpl
  • Momentum.tpl
  • Popular.tpl
  • Volume.tpl
  • Williams.tpl

Each of these template files carries a chart configuration that has a custom set of indicators, including custom indicator settings that you would use.

How to save a default template in MT4

If you want a default template, i.e: a custom configured chart, then the first step is to configure your chart properties. You also have the option to select the chart type, time frame and if interested, you can also add some indicators if you wish.

Once your chart looks the way you want it to be, the next step is to right click on the chart and select save template (refer to the previous screenshot above). If you name your template default, then this becomes your default MT4 template.

Every time you power up your MT4 and open a new chart, the configures you just saved under default.tpl is opened on the chart. As you can see by now, this is an easy way to save the configurations of your chart and have it ready to use.

Advantages of using the MT4 templates

There are a lot of benefits of using the MT4 templates. For starters, it allows you to customize your chart settings to your liking. And by saving these configurations into a .tpl format, they can be easily used once again.

If you have a trading strategy that requires two or more indicators with custom settings, then using a template is a great way to save time. Interestingly, you can also add expert advisors to your charts including custom indicators that you might have bought or built. Each of these can be easily saved and used over and over again, along with the option to export them to another MT4 installation, or to your friends.

The above guide on the MT4 templates will be very handy especially if you are an intraday trader or someone who uses quite a lot of indicators.

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