MT4 NexGen

AxiTrader MT4 NexGen MetaTrader 4 platform, which is a fully featured add-on that empowers your trading by offering an extended functionality for both novice and savvy traders alike.

MT4 NexGen Overview   

AxiTrader MT4 NexGen MetaTrader 4 platform, which is a fully featured add-on that empowers your trading by offering an extended functionality for both novice and savvy traders alike.
Parent company AxiTrader
Type Trading platform
Rekease year 2014
Price Free*
Parent company
AxiTrader
Type
Trading platform
Release year
2014
Price
Free*
Get It

*MT4 NexGen software is FREE to all traders who open an AxiTrader live trading account with a minimum deposit of $1,000.

The advantages of using MT4 NexGen tools are huge. We will summarize the most important aspects of using AxiTrader’s NextGen set of tools:

  • Helps you make the right decisions
  • Provides you with an instant information about the currency correlation
  • Empowers your trading
  • Helps you identify the unseen aspects of trading

MetaTrader 4 NexGen Review will cover all important aspects of this MT4 add-on package. Starting from the gravity indicator, all the way to market manager add-on, these unique set of tools only serve to empower your trading decisions.

MT4 NexGen Gravity Indicator Overview

The Gravity indicator shows areas of possible support and resistance based on previous price action, colour-coded to show areas of stronger and weaker market activity.

Choosing the colours

The Gravity indicator is colour-coded, showing areas of stronger support/resistance in darker colours. You can adjust the colours using the settings on the Inputs tab.

Time period

The Gravity indicator has two modes. By default it will show a relatively long-term assessment of support and resistance. For short-term trading, e.g. intra-day trading using an M5 or M15 chart, you can also use the Inputs tab to tell the Gravity indicator to use a shorter-term calculation.

Start date

By default the Gravity indicator will show a future indication of support and resistance using price activity right up until the current time.

However, you can adjust the indicator’s start time by creating a vertical line on the chart and giving it the name GStart, as in the following example:

The indicator will then only use the price action up until the start time, without looking into the future at what subsequently happened, and will draw its support and resistance calculation starting from the line.

You can use this either to test the indicator, seeing how reliable it would have been in the past, or as a way of telling the indicator to ignore recent price activity which you may regard as abnormal and irrelevant.

Trading Simulator by AxiTrader MT4 NexGen

Using historical data you can backtest manual strategies. The trading simulator gives you the possibility to check both your strategies and EA’s with a simple click. Just press CTRL+R and the simulator will open. Add the strategy or the indicator. You can also check the visual mode. The fastest backtest goes with “Open Prices Only”.

Renko

Renko bricks are a chart type that only measure price movement. The brick will only be displayed when the price makes a desired movement in pips (in this case 10). The blue bricks appear only if the price has moved up by ten pips. On the contrary, the red bricks will show only if the price has moved down by the same specified amount – ten pips. The dotted horizontal lines right side show where the price would have to move in order for the next bricks to show.

Mini Chart Indicator

This function enables multiple charts to be viewed in your current chart. You could do this to watch different timeframes of the same market. You can also analyse different charting techniques like Renko bricks.

Symbol Information Indicator

Should you want to assess the market situation for a wider range of instruments, then you can improve trading decisions by seeing the daily change, range and multiple indicators on every timeframe using the symbol information indicator.

Magnifier

The magnifier works by dragging and dropping the window in a selected area. It enables you to view a chart on a lower time frame.

Chart-in-Chart indicator

With this indicator you can display two different charts on the same timeframe. Additional functions will enable you to add indicators and analyse two different markets simultaneously.

Forex Correlation Matrix by AxiTrader’s NexGen MT4

As a mechanism to assess forex strength, Forex Correlation is designed to assess the relationship and interaction between two pairs or markets. In situations when two sets of data are strongly moving together, then there is a high correlation. Pairs moving in the same direction have a positive correlation, whilst if moving in the opposite direction, then they have a negative correlation. A perfect correlation occurs when pairs move in the same direction and at the same rate, which is extremely rare. There are also many shades in between perfect, negative, and positive correlations.

Change in Correlation

Changes in correlation occur regularly which is why the correlation calculation is important.  Global economic factors are dynamic and changing regularly and therefore a short-term correlation might contrast to a long-term correlation projection.

Correlations over a long term enables a better understanding of the relationship between two pairs. Nevertheless, changes to correlation can occur, in particular due to deviations in monetary policies, sensitivity of certain currency pairs to other markets like commodity prices, and even political or other economic factors.

The higher the number, the stronger is the positive correlation. The lower the number, the stronger is the negative correlation.

Sentiment Trader

Sentiment trader add-on enables you to check the correlation between long and short positions held by other traders. They show you the underlying sentiment on a timeframe of choice, that might be used as your entry signal.

Pivot

AxiTrader Pivot Point enables you to add pivots on any given timeframe. The indicator is highly customisable so we advise you to test all possible options. Some of the most important feature is to set pivot points on any desired timeframe, which is a huge advantage for scalpers and short term traders.

Stealth Orders

The Stealth Orders add-on allows you to hide your pending orders from other market participants.

Alarm Manager

The Alarm manager is a very useful tool that alerts you on important news events. Additionally it serves as your “secretary” by informing you about:

  • Open Profit
  • Margin Use
  • Consecutive Losses
  • Number of Positions Without a Stop Loss

With the Alarm Manager you can also set a predefined price alarm. For example if the EUR/USD makes a breakout above the certain price level, you will be notified by the sound. This is a must for every serious trader.

Mini-Terminal

With AxiTrader NexGen Mini Terminal, you are able to place buy and sell orders with big Buy and Sell buttons. You will see the dotted horizontal lines for every order you have made. That includes:

  • Entry
  • Take Profit
  • Stop Loss


With Mini Terminal you are in full control over your Stop Loss. You can set a SL with a:

  • Fixed price
  • Pips
  • Fixed cash risk
  • % of Equity
  • % of Balance
  • Break-even

Session Map

Session Map helps define major trading sessions for Forex and CFD trading. Have in mind that the first three hours of each session are most profitable in terms of pips and volatility. With this tool, you should always know when each major trading session begins and ends.

Connect Terminal

With Connect terminal you are not only able to see news feed in real time but you can also make selections based on your own preference and only follow feeds that you like. It also includes a number of multi-language choices. When you click “Add a feed”, the new window will appear and you will be able to select a feed provider. Additional options include:

  • Direct Funding of your account through the platform
  • News Calendar
  • Support
  • Blog
  • How to use MT4 tips
  • Trade Analysis


This is one of the most advanced MT4 add-ons ever.

Trade Analysis

Trade Analysis tab is a crucial part of Connect tool. It gives you a complete detail of your account, including the analysis of the trade and current orders. It offers additional insight such as:

  • Total Return
  • Monthly Return
  • Weekly Return
  • Peak Drawdown
  • Trade win %
  • Profit Factor
  • Trade Length
  • Trades per day
  • History

The Analysis tab shows you a complete breakdown of Gross profit and losses, including the best and the worst trade. This is your trading journal.

Market Manager

Market manager extension allows you to manage your account in a convenient way. Market watch tool shows all possible markets in a single window. You can also see the account info and margin in use. This is a very informative tool, and suitable for both short term and swing traders.