MT4 Templates are quick ways to setup a chart with your favourites settings and parameters.
When you are trading it is very probable that you often work with the same indicators. Also, it is very likely that you want to see the chart and candles with specific colors. If this is the case I am sure that it is useful for you to know how to set a MT4 Default Template.
What Are MT4 Templates
What are MT4 Templates? MT4 Templates are sets of parameters to configure your chart with your preferences.
A MT4 Template includes the following important settings:
- Colour settings for background and candles
- Chart Scale
- Chart Type, Line, Bar, Candlestick
- Loaded Indicators and their parameters
- Mounted Expert Advisors, EA, and its parameters
The function of MT4 Templates is for traders to create a standard chart visualization and analysis that they can quickly apply to other charts.
MT4 Templates Files
The MT4 Templates are saved by default in the MT4 Data Folder and Templates subfolder.
Templates files have a .tpl extension.
What Is The MT4 Default Template
The MT4 Default Template is the group of settings and instrument that is loaded on a chart by default.
For example if you followed the article How to Install MetaTrader 4 Client Terminal.
In this case your color scheme is probably like the one in the picture below.
You also may notice that there are no indicators loaded by default.
In the screenshot you can see how some of the template settings are:
- Black background
- Green candles
- No indicators
- No Expert Advisors
- Small scale
How To Set The MT4 Default Template
Now that you know what are templates it is time to make your own.
You can create your own default template so that every time you open a new chart it will load with your default settings.
To set your own MT4 Default Template do the following:
- Open a new chart
- Configure the desired chart and bar colours
- Set the preferred scale
- Select the preferred chart type
- Load the indicators you want with their settings
- Load the EA you want and its settings
- Right Click the chart and select Templates, or click on the template button
- Click “Save Template…”
- Name the template as Default and save
You can follow the same steps to create other templates that you can apply when desired.
You have now created your custom template and you will be very happy to see that even when you restart MetaTrader4 your settings will be maintained.
This is very useful also to match the charts with your trading strategy as the template includes the indicators and many strategies are based on a restricted number of indicators.
Saving the template will allow you to save time and have the chart ready for analysis.
For some ideas and some advanced tools to add to your Metatrader feel free to visit the Download section.
MT4 Templates Settings in More Details
Here some of the settings that are included in the MT4 Templates and how to change them.
Change Color Scheme
To change the colors you need to right click the chart and select properties.
I prefer to work with colored candlestick on a white background so I usually start from a black on white
After that I then tweak the colors of the bars and wicks.
Change Bars Style
As part of the template you can also change the bar style, which can be:
You can change the zoom as well, or in other words the scaling.
Another advantage of configuring a Template is the possibility of adding indicators.
So if for example you like to work with a Moving Average, ATR and Stochastic.
You can add your favourite indicators with your usual parameters.
Remember that you can also add custom indicators if you want as we see in this article.
Add Expert Advisor
End finally, you can also configure in the template the expert advisor that you want mounted to the chart.
Template VS Profile In Metatrader
It is important to understand the difference between Template and Profile in Metatrader.
In Metatrader the Template is the group of configuration applied to the chart.
So we can say that the Template includes:
- Color Scheme
- Parameters of the indicators
- Expert Advisors
- Parameters of the expert Advisors
- Candlestick style
The Profile, instead, is a set of charts open at the same time on a specific time frame and with specific assets or pairs.
So a Profile is a set or group of charts that you load on your client terminal.
A Template is a set of parameters and tools loaded on a chart.
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