Macroeconomic indicators in MT5 and how to use them in trading.
Fundamental analysis, unlike technical analysis, provides a clear understanding of the reasons for what is happening with the price, because the minds of investors and bankers are controlled not by lines and indicators, but by economic indicators.
Thus, macroeconomic indicators are the very vector and message that is necessarily monitored by both traders and investors.
However, the peculiarity of fundamental analysis is such that to implement it, the trader must constantly keep his finger on the pulse and know the time of publication of the news, making certain decisions after the publication of macroeconomic indicators.
Unfortunately, the traditional MT4 platform is far from ideal in terms of implementing news trading, because the trader has to use third-party sources of information, which undoubtedly slows down the reaction.
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Therefore, at the time of the creation of MT5, the developers created the most convenient functionality for fundamental analysis, because now macroeconomic indicators and news are available in real time directly in the trading platform.
News in MT5. Setting, sorting, display
The implementation of news submission in MT5 is in many ways similar to MT4; several news aggregators are used that provide interesting information in various languages, except, of course, Russian.
In MT5, the news block is located directly below the price chart, or to be more precise, in the window called “Tools”. By the way, in order to go to the news, just open the corresponding tab in this panel. Type of news in MT5:
One of the functions of MT5 is the ability to sort news by category and enable the display of only the necessary ones, and not all in a row, as happens by default.
In the categories you can select Central Bank news, technical analytics, economic analytics, and so on. In order to do such sorting, simply call up an additional menu with the right mouse button, highlighting the line with a specific publication.
By the way, few people know about this, but the list contains only clear, laconic news titles that briefly convey their essence.
However, in order to fully get acquainted with the publication and understand reliably what it is about, you need to double-click on the title. A window will appear containing the news itself:
One of the main reasons why traders do not use the news block is the lack of them in Russian, and in place of this you can see either English or some other publications.
This happens because the language is not selected in the settings. To do this, go to Tools – Settings. Then open the “Server” tab and in the news language line, set the languages in which you want to see news.
Macroeconomic news and calendar The
built-in economic calendar will help you track macroeconomic news, know the previous value, predicted value, and most importantly, the current value at the time of publication.
It is worth noting that the developers of MT5 followed the path already trodden before them, namely, the calendar has a certain standard form, which indicates the time and date of publication of the news, the currency that is affected, the name of the event and, most importantly, the priority, which allows you to evaluate a certain degree of influence on market.
Thus, due to the fact that the calendar is built into MT5 and is located in the same panel as the News, the trader has no delay in opening a position, and the accuracy of the transaction is executed at the most favorable price for you.
In order not to miss the publication of a macroeconomic indicator and visualize it on a chart, you can enable an alert.
To do this, also call up the additional menu opposite any news and in the window that appears, select “Show on charts”, “Add all events”.
If everything was done correctly, you will see flags on the chart under the price; when you hover your mouse over them, the name of the news and the time when it will be published will be displayed.
In conclusion, MT5 is the best environment for trading using fundamental analysis.
Due to the fact that macroeconomic indicators in MT5 can be tracked both using news and the calendar, the trader will not only be aware of planned events, but will also be able to react sharply to sudden events.
Thus, without resorting to auxiliary tools and third-party applications, MT5 fully satisfies the requirements of a news trader.