This connection to the Meta trader is however limited currently, for the connection ability only for a single or rather one meta trader at a given time. Metatrader4 platform is considerably focused on margin trading. User friendly and apt charts are also known to be created through this platform. They have been known to work towards developing very innovative and quite inexpensive solutions for individuals, and with their developments, they apparently come up with tools that are focused at curbing the obstacles which frustrate the traders.
A workaround could be to have a continuously running script to capture prices, which would make your data real time.
This is, however, never free from the risk of bugs that will need time to be fixed. Rather than simply using MS Excel, you could purchase an application or software from a third-party vendor. Such options may offer you many more or new functionalities with Excel. This may make it very simple to set up rules for trading and open and manage positions.
However, you need to be wary of solutions that set up a backend connection from your computer to a third-party server. This means that your MT4 account information would be accessible on that server. Also, you need to ensure that the product or service you choose would provide you continuous support, addressing your queries as they arise. Due to these reasons, traders often steer clear of third-party applications and rely purely on MS Excel.
Considering the drawbacks of the alternatives and the complexities associated with leveraging MT4 to the fullest, MS Excel appears to be a good option. The simplicity it offers makes it a popular choice, especially among beginners.
If you liked this educational article, please consult our Risk Disclosure Notice before starting to trade. Thereafter, instead of writing the full formula, you can refer to the named cell after you have typed the "! I have made this short video to explain my point. Hope this is clearer! I think he wants to and so do I be able to alter the contents of a cell and then what is written in cell is used in the DDE request. If I understand you correctly, you want what ever you type into a cell to be added to the part of the DDE formula reserved for the name of the currency pair.
I assume that you would like to be able to do this so that each DDE formula would be updated whenever you change the text content in the one cell that you would use for naming the pair? If so, then I am afraid that is beyond my knowledge of Excel. As far as I am aware, you can only name the cell as I demonstrated because the DDE formula is only interested in the name of the cell and not the contents of the cell, indeed the cell could be empty.
Perhaps there is a way with VBA coding A closer look at the two traders from FxDialogue trading firm reveal that in as much as all of them are used for trading, they do have their differences. The differences come as a result of the features that each of them have, in relation to the other.
Noteworthy fact is, that Mexcel trader, which is an improvement of the metatrader 4 is seen to have more advanced features that are preferred, thus making it to stand out between the two. Its features are more flexible allowing the user to trade more conveniently than the other platform.
It is known to do much more than what the Meta trader platform does. With the Mexcel trader platform, there is an assurance that the there would definitely be a decrease in the learning curve, through better incorporation of Microsoft excel with the platform.
All this is possible because with excel in place, a lot can be done and displayed at real time, for the user to undertake an educated trade decision. Information regarding prices and indicator values are easily accessible on this excel sheet, which therefore means, that the user does not require increment in his learning curve about other related software in order to trade. He can comfortably use the excel sheet with available simple functions, and be able to do whatever he desires.
FxDialogue, in its attempt to better the trading services, has tried to make sure that its Mexcel trader platform can allow the user to inherently do everything on one single sheet itself, without navigating to other places in a hunt for information. This is a huge attraction to the platform since most traders prefer a platform that can easily provide them with all the required information in a compact manner. Therefore, once you have set the program, all the required details of any kind of trading to undertake is available promptly, which is updated constantly making the information on the display exactly like a real time image.
On this platform; there are a variety of available resources that the user can easily turn-to, for help. This has made trading easy as one does not require prior training before using the platform. Once in the platform, simplified functions are available, to lead the user into the required help thus making the trading very effective and prompt. This is also a huge advantage when it comes to volatility of the market.
The help does not only involve the trading, it is also meant to help the user get a better understanding of how the Microsoft excels generally works. FxDialogue has provided appropriate teaching aids and material to its customers through Mexcel trader to get familiar with Excel so that they do not face any predicaments in operating the Mexcel trader. User friendly and apt charts are also known to be created through this platform. This means that the number of activities that can be performed using the excel sheet are not limited in any way.
The user can do a great array of activities while at the same time; learn on how other functions of the Microsoft excel works. Most people have reportedly suggested the Mexcel trader platform to be the perfect platform available, when it comes to implementing complex trading strategies.
This is not possible with the other platforms due to their own inherent complicities. With the changing times, there has been a trend of more complex trading strategies coming into existence and into the fore front, which requires constant implementation and mexcel trader from FxDialogue, is one of the platforms, which proves to be able to implement any such advancement, making it a perfect choice for an end user.
Metatrader by FxDialogue, is an extremely user friendly commercial solution, which does almost all things which user need to perform with Metatrader4, by simplifying it through amalgamation of the trading platform with Microsoft Excel. Metatrader4 is used by online Forex foreign exchange speculative traders as a software program and in Forex terminology; it is called Electronic Trading Platform. This software uses scripting language MQL4, which enables Forex traders to develop scripts, custom indicators and the most attractively, create Expert Advisors.
Many brokerages that were using other trading software replaced or started using Metatrader4 as alternate trading software. It is very effective as it provides real time charts, operations in trade and technical analysis. Metatrader4 platform is considerably focused on margin trading. Empowering Metatrader 4 with Mexcel Trader makes it significantly easy because it gives greater flexibility and the minimum language issues. Mexcel Trader has certain very important features incorporated, along with tools that help a user to formulate Forex strategies, graphs and design charts without the knowledge of MQL, with the best being, that for using this, a user needs to only have the knowledge of Excel.
Using Metatrader 4 with excel requires a lot of programming and it would consume humongous amounts of time do perform tiny work, but Mexcel trader by FxDialogue eliminates this cumbersome process by using the very effective calculation capacity of MS Excel with historical prices, real time data and propriety functions, making it a perfect alternative of the treacherous programming process.
Mexcel trader is user friendly and allows user to construct their own database for price-history to check the trends over any range of time span. This also provides live streaming of data on currency values in Forex. This indeed makes it very simple for user by removing any sort of complexity involvement. Forex trading can be controlled from home, and for that we would simply need a computer and the software to access the online forex market. For this purpose, there are certain ambiguities in traditional systems, which are rather complicated to a large extent.
To overcome this complicated solution, FxDialogue brought about Mexcel tool for Metatrader 4, whereby, through elimination of the need for users to write any complex programs, they have opened an array of possibilities for exploiting all the utility features of Meta trader and at the same time, updating real time prices through display of multiple time frames for every pair of currency used in trading over a single screen or window.
MexcelTrader is an application that connects MetaTrader 4 to Excel and allow for the exchange of information and data between the two. You can see the application here www. Why Mexcel trader from FxDialogue? Wonders of FxDialogue and its new Mexcel Trader A closer look at the two traders from FxDialogue trading firm reveal that in as much as all of them are used for trading, they do have their differences.
This article was posted in Forex and Excel.