Using the economic calendar on MetaTrader 5 (MT5) helps you stay informed about important economic events that can impact the markets. Here’s how you can use it:
1. On MT5, go to the “View” menu and select “Toolbox” or press Ctrl + T to open the Toolbox window.
2. Click on the “Economic Calendar” tab within the Toolbox.
3. Right-click within the Economic Calendar tab to customize the display settings. You can filter events by priority, related currencies, and countries. This helps you focus on the most relevant events for your trading strategy.
4. Click on any event to see more details, including the forecast, previous values, and actual results once they are released.
5. To add economic events to your charts, right-click on the event in the Economic Calendar and select “Show on Chart.” This will display the event on your chart, helping you visualize how past events have impacted price movements.
6. You can set alerts for upcoming economic events to ensure you don’t miss any important announcements. Right-click on the event and select “Create Alert” and configure the alert settings to notify you via sound, email, or push notification.