If you have used the MetaTrader 4 platform, chances are that you might have noticed the Profiles function at the bottom bar of the MT4 trading platform. You might have come across something like ‘Default.’
This is nothing but the name of the profile. Profiles are a functional feature on the MT4 trading platform. It allows traders to group different charts into a profile so they can be easily accessed. This helps to improve your productivity as well as efficiency when trading on the MT4 platform.
So what are profiles on MT4 and how can you utilize this function to improve your efficiency and also make things simple when trading with the MT4 platform?
This article will shed light on the MT4 profiles to help you understand how you can take advantage of this feature.
What are Profiles on MT4?
The Profiles, as the name suggests, is a category that clubs various charts together. A profile can have many different charts, including various time frames and instruments. Using the profile function, you can easily create your own profiles and access these set of charts easily.
This makes it very easy for traders as you do not have to redraw your charts all over again.
For example, Profile 1 can comprise of the euro base currency charts. EURUSD, EURJPY and EURCHF and so on. Likewise, Profile 2 can comprise of the British pound base charts, such as GBPUSD, GBPJPY and so on.
As you can guess by now, profiles allow you to easily club common charts together. Of course, you can also create a profile with a combination of different charts and not just limited to the examples given below.
In the previous illustration, Figure 1, you can see the profile with the name Default. Here, we have grouped a few charts together.
How to use profiles on MT4?
To use the profiles, simply build up your charts. For example, you can have one (or a few) EURUSD charts, some GBPJPY charts and so on. After you have built up a combination of the charts, click on the ‘Profile’ tab at the bottom of the MT4 screen and select ‘Save Profile As.’
You can give this any name you want as long as you can recognize what this means.
Once the profile is saved, you can just click on the ‘Profile’ tab use it to make navigation easier. This is shown in the next illustration, Figure 2.
Once the profile is saved, you can also access the profile files by click on ‘Files > Open Data Folder’ from the menu tab. The profiles are saved in the ‘profiles’ folder of your MT4 account. It is important to note that the profiles are saved as sub folders in the directory.
When you click on a profile folder, you can then see the charts that are listed there. You can copy paste the specific profiles folder and export it into different MT4 account instances.
How are MT4 Profiles beneficial for traders?
Profiles make it easy for traders to navigate between different groups of charts. For example, a profile saved as Futures can include all the futures instruments. Even the drawings that you save on the chart can be easily accessed thus saving you a lot of time.
This way, traders do not have to re-do the charts and their analysis all over again. The profile feature makes it easy to navigate between the different grouped charts with relative ease. It not only saves you a lot of time but also makes it easier when you are trading and need to switch between different analysis methods and chart time frames and instruments.