Metatrader for Indian markets

Yes MT 4 is very dumb in this aspects and it is not mistake of brokers but we have to blame metaquotes for this for lacking some basics features that retails clients needed.

If you really dont know how to use things effectively its better to stay away from that instead of blaming it....... I have seen you throwing worst inputs on MT4 by the way may I know which charting platform you recommend for traders and Y????

I have been using MT4 for a long long time. I know what kind of brokers use it and how they use it.

If you choose to use it , do it as your own risk.

Simply post a 1 hour chart from MT4 on any indian stock from a indian MT4 vendor and i will show you what issues are there..

Also , tell me how are you going to change timings for open of markets in MT4. if you really know how to use MT4 then you should tell everyone here how to do that.

In any TA software be it esignal/metastock/amibroker/....etc
Every TA software has a option to change the timings. Where is this in MT4? glsmetatrader also should make this clear.

If you don't know which software to use for TA in indian markets after having google and this forum, i don't think you should be trading.

I agree with your words in terms of timing adjustments but that is not the big deal apart from capturing PSR etc which can be easily drawn using the tools available. The power of MT4 is that in which you can get the best in class trading systems free of cost.... I believe none of the technical software has the wide range of indicators available in the planet for free as MT4 does and nobody can prove this logic as wrong...... Again i am not against another softwares but I love and live with MT4 charting which gave growth in my trading carrier....

May i know why you are using??? MT4 for long long time, when you find it as least useful software?

1. MT4 is designed as broker client terminal and it is not a full fledged charting or trading analysis platform
2. The best part of MT4 is it is free to use and we can switch to any broker server by changing demo accounts or live accounts we wish to open with them
3. It is never claimed by its creator Metaquotes Inc that MT 4 as TA software, so i don't know reason's behind your comparison with pure TA software designed at product or development levels to do what it is intended for
4. Esignal , Metastock and Amibroker i hope you are well aware of their charges need to be paid by end user and in real life it wont end up with one time cost over time due to the fact of new versions and updates were charged additionally over time
5. MT 4 designed to work based on server time zone to avoid conflicts between trading customers and a broker, and well it suits the purpose for what it is intended for
eg: Suppose take a retail client claims a trade was not properly filled by the facts of some reason's it will be bit cumbersome for a broker to compare if the client terminal trade log shows different time zone vs their server log will be a major logic behind to set their client terminal to work based on server time zones instead of option to switch own time zone, Metaquotes is well capable to develop any thing they want and they have team but provided it serves their purpose and category of business

by long long time i meant using MT4 for FOREX trading. Now that banks had come hard on us , there is no more trading in FOREX.

if you think MT4 is worth it , why is it not authorized by Indian brokers and NSE?

Even zerodha tried to use and it was shot down. Why is that?

@Technical Trader Mt4, if you think that time doesn't matter in trading , again you should not be trading.

Sure i still use it for FOREX demo trading, but there is no way i m going to use it for a exchange like NSE or MCX.

as for your point 1 & 3 : if MT4 is not a TA software and just a broker client terminal, then you should not use it for TA.

and most your other points are irrelevant to Indian exchange markets and are more relevant to FOREX markets and i agree with you there.

if you people want to use it , sure go ahead. it's your money on the line....

Mt 4 by design is not designed to use with exchange connectivity and order flow systems not only Indian brokers and NSE it can't get authorized with any exchange connected brokerages

Again it is cheapest and easy to access alternative to entry level and low budget trader, even for some professional as entry level tools for basic market analysis

Lack of easy alternative is problem here, if that do exist we all as trader can enjoy our analysis better and get them easier.

very well said......:thumb::thumb:

Hello throwawayacc123,

I really dont understand your point in mentioning that MT4 is useless for Indian Ex... Lets get few things straight forward and clear in terms of using it as a charting software and not trading platform.

1. Can you please post atleast one charting software Free of cost and Easy to use????
2. If any software that you recommend have a wide range of indicators for easy use without dependencies from programmers or deep search in forums.
3. Which software has the easy to use navigation in TF and drawing tools as MT4 does.


"@Technical Trader Mt4, if you think that time doesn't matter in trading , again you should not be trading." Here I hope you dont understand what i meant. If you are an trader watching market RT all the day and if you can't adjust 30 mins difference then i believe you should not be trading!!!!! because a Trader really understand that there is no Holy grail and no trading system is perfect. It is your own decision to use the best strategy and trading systems which gives returns. If a free software works as long exact market opening and closing hrs that is all needed for a trader....

I strongly believe that any new people can easily understand how to use MT4 effectively within few mins or hrs but not any other charting software. Mt4 is the only platform which has wide range of best trading systems and indicators available in the planet.....Can you challenge these statement is wrong?????. IF ready open up a new thread and post screenshots of your software with its benefits and I will post on Behalf of MT4. I will never accept any poor and unproven statements abt MT4 unless i see it RT.

Sir there is no link about server?