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 Is The MT4 Default Template
The MT4 Default Template is the group of settings and instrument that are loaded on a chart.
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 the template is:
- Black background
- Green candles
- No indicators
- No Expert Advisors
- Small scale
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.
How To Change The Default Template
So as we mentioned before the Template is the configuration applied to a chart.
You can change the default template that is applied when you open a new chart in MT4.
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.
Set The Default Template
When you are happy with how the chart looks and the tools mounted then you can right click the chart, select template and click “Save Template…”.
If you want the template to be the default one for every new chart you will open then name the template as Default and save.
In alternative you can save the template with another name and apply it ad-hoc.
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.
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