Module 1: Introduction to MetaTrader 5

MetaTrader 5 (MT5) is a multi-asset trading platform developed by MetaQuotes Software, designed for trading forex, stocks, futures, and CFDs. Released in 2010 as a successor to MT4, MT5 offers more features, better performance, and improved tools for both technical and fundamental analysis.

Key differences from MT4 include support for more order types, advanced charting, an economic calendar, and built-in Depth of Market (DOM). MT5 uses a different programming language (MQL5), which allows more powerful trading robots and custom indicators.

Module 2: Setting Up MetaTrader 5

• Downloading MT5: Visit the MetaQuotes website or your broker’s portal and download the version suitable for your device (Windows, Mac, Android, iOS).
• Installing MT5: Run the setup file and complete the installation wizard.
• Opening an Account: After installation, open a demo or live trading account via File > Open an Account.
• Navigating the Interface
  • Toolbar:Includes shortcuts for trading, drawing tools, and timeframes.
  • Market Watch: Displays quotes and Depth of Market.
  • Navigator: Access accounts, indicators, EAs, and scripts.
  • Terminal: Shows trading activity, news, calendar, mailbox, and logs.
  • Charts: Central hub for price action, analysis, and trading.

Module 3: Understanding the MT5 Interface

MT5’s interface is highly customizable. You can arrange and dock windows, save chart templates, and build profiles for different strategies. Key features:

• Depth of Market (DOM): Shows liquidity levels.
• Economic Calendar: Integrated within the Toolbox.
• 21 Timeframes: From 1-minute to 1-month, including 2-minute, 3-minute, etc.
• Chart Types : Bar, candlestick, and line.

Module 4: Opening and Managing Trades

To place a trade:

• Click "New Order" or right-click a symbol in Market Watch.
• Select symbol, volume, order type (market or pending).
• Optionally set SL and TP.
• Confirm with Buy/Sell.

Order Types:

• Market Execution
• Pending Orders:
• Buy Limit / Sell Limit
• Buy Stop / Sell Stop
• Buy Stop Limit / Sell Stop Limit (exclusive to MT5)

You can modify trades via Toolbox > Trade tab. Right-click to adjust SL/TP or close positions.

Module 5: Charting and Technical Analysis

MT5 offers enhanced charting tools:

• Timeframes: 21 total
• Chart Objects: Trendlines, channels, Gann, Fibonacci, Elliott tools.
• Technical Indicators: Over 80 built-in indicators.
• Custom Indicators: Install via MQL5 folder.

You can detach charts, open multiple charts per instrument, and save layouts. Templates allow reusing chart setups.

Module 6: Using Indicators and Expert Advisors (EAs)

MT5 supports MQL5-based indicators and EAs. To add custom tools:

• Open Data Folder > MQL5 > Indicators or Experts.
• Paste files and restart platform.

EAs in MT5:

• Use Strategy Tester for backtesting.
• More advanced than MT4 (multi-threaded, faster).
• Requires MQL5 language knowledge for custom EAs.

Module 7: Backtesting Strategies

Use the Strategy Tester:

• Go to View > Strategy Tester.
• Choose the EA and symbol.
• Select testing type: Every tick, 1-minute OHLC, or real ticks.
• Adjust parameters and run test.

The visual mode allows live chart replay. Optimization can be run with genetic algorithms.

Module 8: Account Management Tools

Toolbox > Trade tab shows open trades and margin stats. The History tab logs previous trades.

Key Metrics:

• Balance, Equity, Margin, Free Margin
• Swap, Commission

Generate reports by right-clicking the history tab.

Use the Mail, Calendar, and Company tabs for broker messages and macroeconomic data.

Module 9: Using MT5 on Mobile Devices

MT5 mobile apps are available for Android and iOS. After installation:

• Log in with your broker credentials.
• Use Quotes tab to monitor prices.
• Trade tab for executing trades.
• Charts tab for analysis (candlestick, indicators).

MT5 mobile supports SL/TP settings, order types, and one-click trading. Charts are fully interactive.

Module 10: Tips, Shortcuts & Common Errors

Useful Shortcuts:

• F9: New Order
• Ctrl+M: Market Watch
• Ctrl+N: Navigator
• Ctrl+T: Terminal

Common Errors:

• "Invalid Volume" or "Market Closed": Check lot size and market hours.
• "No Connection": Verify internet or server settings.
• Reset Layout: View > Toolbars > Reset or delete config folder.

Backups: Save your templates, profiles, indicators.

Module 11: Resources and Final Thoughts

Best Uses for MT5:

• Multi-asset traders (stocks, futures, commodities).
• Advanced strategy developers (MQL5).
• Traders needing economic calendar and DOM

Learning Resources:

• MQL5.com for tools, marketplace, forums.
• Broker platforms for webinars and tutorials

Final Tips:

• Always use a demo account to test strategies.
• Leverage the full toolset MT5 offers (calendar, DOM, reports).
• Stay disciplined with risk management

MT5 is a powerful evolution of MT4, ideal for traders looking to diversify assets and enhance their technical toolset. With strong support for automation and data-driven strategy, it`s a comprehensive platform for modern trading.