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In mt4 platform we can use different kinds of indicator. But we cant totally depend on it for taking trading decision. It will work for extra confirmation after analysing chart patterns and candlesticks.
In comparison Mt4 looks like absolute crap, but it has everything you need as a trader. Its also the most common tool with most available indicators and eas.
In my limited experience, there is no signal that will tell you exactly where you should place the trade.
So choose a platform based on your trading methods. If it's currency trading, use MT4 since it is suitable for it, and for other methods, use MT5 since it is an advanced trading platform.
With the digitalization of the world, people are more and more getting involved with Forex trading. Those who are efficient at trading can take Forex as a reliable source of earning.