MetaTrader 5 Navod: How to Set Up and Use MT5 Like a Pro

You’ve just downloaded MetaTrader 5, logged in, and now you’re staring at a screen full of charts, menus, and numbers. The interface is powerful—but it’s also busy. You want to keep an eye on your open positions, check prices quickly, maybe close a trade, but you don’t want the full terminal window dominating your screen while you’re doing other things. That’s the thing about MT5: it does so much, but sometimes you just need a quick glance.

This MetaTrader 5 navod (guide) walks you through the essentials—from logging in and placing your first trade to managing positions and customizing your setup. And along the way, I’ll show you how tools like Camovia Tray can solve one of the platform’s most common frustrations: staying connected without staying buried in the interface.

What Is MetaTrader 5 (MT5)?

MetaTrader 5 is a multi-asset trading platform developed by MetaQuotes and released in 2010 as the successor to MT4 . Unlike its predecessor, which was built primarily for forex, MT5 was designed from the ground up for multi-asset trading—stocks, futures, commodities, indices, and of course, forex .

It’s used by retail and professional traders worldwide for analyzing markets, placing orders, managing positions, and running automated strategies . The platform is available on desktop (Windows, macOS, Linux), mobile (iOS, Android), and web browsers .

Getting Started: Login and Setup

Download and Install MT5

You can download MT5 from your broker’s website or directly from MetaQuotes. Once installed, launch the platform.

Logging In

To log into your trading account:

1. Click File in the top-left corner.
2. Select Login to Trade Account.
3. Enter your account number and MT5 password.
4. Select your server from the dropdown .

If you don’t see your server, click File > Open Account to search for it . Once logged in successfully, you’ll hear a confirmation sound, and live prices will appear .

Security Note

If you’re using a shared or public computer, log out after each session. Go to Navigator > Accounts, right-click your account, and select Delete to remove saved credentials .

Understanding the MT5 Interface

MT5 is organized into several key panels:

• Market Watch: Shows live prices for available instruments. Right-click to add or remove symbols .
• Navigator: Displays your accounts, indicators, Expert Advisors (EAs), and scripts.
• Chart Window: The main area where you view price movements and apply indicators.
• Trade Tab: Located at the bottom—shows your open positions, account balance, and floating profit/loss .

You can customize the layout by dragging panels or using the View menu.

Placing Your First Trade

Opening a Market Order

To place a trade at the current market price:

1. Press F9 or click New Order in the toolbar .
2. Select the symbol you want to trade.
3. Under Type, keep Market Execution selected.
4. Set your volume (lot size).
5. Optionally set a Stop Loss and Take Profit.
6. Click Buy or Sell .

Placing a Pending Order

If you want to enter the market at a specific price level in the future:

1. In the New Order window, select Pending Order under Type .
2. Choose your order type:

• Buy Limit / Sell Limit: Enter at a better price than current market.
• Buy Stop / Sell Stop: Enter once price reaches a specified level.
• Buy Stop Limit / Sell Stop Limit: Combines both—activates as a limit order once a stop level is reached .

1. Set your price, volume, SL/TP, and expiration.
2. Click Place .

Managing Open Positions

Once you have open trades, you can view and manage them from the Trade tab at the bottom of the platform . Here you’ll see:

• Instrument
• Direction (Buy/Sell)
• Volume
• Open price
• Current floating profit/loss
• Stop Loss and Take Profit levels

Modifying or Closing a Trade

Right-click an open position to modify SL/TP or close it directly .

The Challenge of Multitasking

This is where MT5’s desktop-first design can become a friction point. To check your positions or view live quotes, you either keep the full MT5 window open, or you constantly alt-tab back to it. It breaks focus. You might be in a spreadsheet, writing an email, or reviewing research—and you just want a quick glance at your P&L without the full interface.

That’s where a tool like Camovia Tray can help. It turns MT5 into a system tray tool—so you can check live quotes and manage positions right from the Windows tray, without opening the full terminal. Hover over the tray icon to see real-time prices; click to view open positions and close trades directly [Product Knowledge]. It keeps your data local and doesn’t upload anything—so you stay connected, but the terminal stays out of your way.

Technical Analysis Tools

MT5 is known for its extensive charting capabilities:

• 21 timeframes, from 1 minute to 1 month .
• 38 built-in technical indicators, with access to thousands more via the MQL5 market .
• 44 graphical objects, including Fibonacci, Gann, and Elliott Wave tools .

Adding Indicators

1. Go to Insert > Indicators.
2. Choose from categories like Trend, Oscillator, or Volume .
3. Adjust parameters and click OK.

To remove an indicator, go to Charts > Indicator List, select it, and click Delete .

Installing Custom Indicators

1. Go to File > Open Data Folder.
2. Navigate to MQL5 > Indicators.
3. Double-click the indicator’s program file to install it .

Automated Trading with Expert Advisors

MT5 supports algorithmic trading through Expert Advisors (EAs)—programs that open and close trades automatically based on predefined rules .

How to Use an EA

1. Enable Algo Trading in the toolbar (the button with a play icon).
2. In the Navigator panel, find your EA under Expert Advisors.
3. Drag it onto a chart.
4. Review settings in the Inputs tab and click OK .

Important Note

EAs still require monitoring. Market conditions can change in ways a strategy’s rules didn’t anticipate—so oversight is still necessary . And if you’re running multiple EAs or backtesting, MT5’s 64-bit, multi-threaded architecture provides a performance edge over MT4 .

MT5 vs MT4: Key Differences

If you’re coming from MT4, here’s what you need to know:

MT5 is generally considered the more advanced platform, but it comes with a slightly steeper learning curve . Expert Advisors written for MT4 will not run on MT5 without conversion—so if you have existing tools, plan accordingly .

The Tray Workflow: Staying Connected Without the Clutter

Here’s the setup that many MT5 users eventually gravitate toward: the terminal window stays minimized or hidden, and they rely on lightweight tools to monitor the market. Camovia Tray fits that workflow:

• Hover to see prices: Mouse over the tray icon and a popup shows real-time prices for your selected instruments—no window switching required [Product Knowledge].
• Manage positions: View open trades and close them with a click, right from a floating window [Product Knowledge].
• Hide the main window: Hide MT5 completely from the taskbar and Alt+Tab list—then restore it from the tray when you need the full interface [Product Knowledge].

It’s not about replacing MT5—it’s about using it more efficiently.

Final Thoughts

MetaTrader 5 is one of the most powerful trading platforms available. Whether you’re a manual trader, an algorithmic strategist, or somewhere in between, it gives you the tools to analyze markets and manage positions effectively. But power comes with weight—and if you’re someone who wants to stay connected without staying anchored to the terminal window, tools that streamline your workflow matter.

If you find yourself constantly alt-tabbing back to MT5 just to check a price or P&L, consider how a tray-based approach could simplify your day. Camovia Tray, for instance, keeps your quotes and positions a hover away—and everything stays on your computer [Product Knowledge]. The goal isn’t more software; it’s less friction.