MetaQuotes, the developer of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) forex trading platforms, said on Monday it has introduced to the web version of the MT4 a full set of technical analysis indicators by Bill Williams, a well-known US trader and author of books on technical analysis and trading psychology.
The Bill Williams set includes six types of indicators:
- Alligator – it is a combination of Balance Lines that use fractal geometry and nonlinear dynamics.
- Fractals – represents a series of at least five successive bars. They have High and Low values and are indicated with the up and down arrows. They needs to be filtrated with the use of Alligator.
- Market Facilitation Index – shows the change of price for one tick.
- Awesome Oscillator – generates signals to buy and signals to sell.
- Accelerator/Decelerator Oscillator – measures acceleration and deceleration of the current driving force.
- Gator Oscillator – it is based on the Alligator and shows the degree of convergence/divergence of the Balance Lines.
The software developer said it has also added a modern WebGL technology to the MT4 WebTrader, which will allow the simultaneous running of multiple indicators without affecting the platform’s overall performance.
As part of the update, Meta1Quotes has made available the MT4 web platform in three new languages – Hindi, Ukrainian and Uzbek.
The web-based version of MT4 was launched in September 2015. The developer has said it received orders for it from more than 100 companies within the first month of its launch. The MT4 WebTrader runs across all web browsers and is compatible with all operating systems for desktop and mobile devices. The web version’s interface is nearly identical to that of the desktop platform.
A huge advantage over the other versions, is that the web platform does not require the download or installation any software; all users need to use it is a browser and an Internet connection.
The MT4 is among the world’s most widely used forex trading platforms. Beside as a web platform it is also available as applications for desktop and mobile devices. With its outstanding charting package, auto-trading capabilities and signal copying, the platform is user-friendly and even novice traders can easily find their way around it. Traders can download ready-made or create their own automated trading strategies (EAs), scripts and custom indicators in the MQL programming language.
Source: MetaQuotes
