In this article, we will guide you on how to show bid and ask prices on MT4. As you already know that MetaTrader 4 (MT4) is a widely used and the most popular trading platform alongside MetaTrader 5 (MT5).
One of the features of MetaTrader is the ability to display bid and ask prices, which are critical in determining the spread as well as the entry and exit points of a trade.
However, some traders find it difficult to display bid and ask prices on the MT4 platform.
Understanding the Difference Between Bid and Ask Prices
The bid and ask prices of a financial instrument, such as forex or stocks, are the two prices that are quoted. A trader can sell a financial instrument at the bid price, while the ask price is the price at which a trader can buy a financial instrument. The spread is the difference between the bid and ask prices, and it is the primary source of income for brokers.
Steps to Show Bid and Ask Price on MT4
To show the bid and ask prices on MetaTrader 4 (MT4), follow these steps:
Step 1: Open the MT4 Platform
The first step is to open MT4 on your device. Once you’ve opened the platform, you’ll see the MetaTrader 4 Chart window.
Step 2: Go to Charts
Now from the menu bar Go to Charts > Properties or to go to Chart Properties you can directly press F8 key.
Step 3: Enable Ask Line and Show Grid
Finally, tick the Show Ask Line Option and also necessary other grid and finally click on Ok.
Benefits of Displaying Bid and Ask Prices on MT4:
Traders can benefit from displaying bid and ask prices on MT4 in the following ways:
- Improved Market Understanding: Bid and ask prices assist traders in understanding market sentiment as well as the supply and demand dynamics of a financial instrument.
- Accurate Entry and Exit Points: Bid and ask prices assist traders in more accurately determining the entry and exit points of a trade.
- Better Risk Management: Bid and ask prices assist traders in calculating the spread and potential profits and losses of a trade, which can aid in risk management.
What is the difference between the bid and ask prices?
The bid price is the price at which a trader can sell a financial instrument, while the ask price is the price at which a trader can buy a financial instrument.
How can I display bid and ask prices on MT4?
Follow the steps mentioned above to display bid and ask prices on MT4.
Can I trade directly from the bid and ask prices on MT4?
No, you cannot trade directly from the bid and ask prices on MT4. You need to place an order on the MT4 platform to execute a trade.
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At the End
Please keep in mind that the bid and ask prices may not be visible on the chart if the price has not changed since the chart was last updated.
You can refresh the chart by clicking the “Refresh” button at the top of the MT4 window or by closing and reopening it.
We hope this guide helps you to display bid and ask prices on MT4 easily and efficiently. If you have any questions or concerns, please don’t hesitate to reach out to us.