The Symbol Changer indicator for MT4 is a fantastic tool that allows you to switch and display charts for any currency pair you want to see and any other time frame. Forex traders can display the desired chart directly on any open chart with the click of a button. Indicators for Metatrader conversion symbols are an important tool for trend traders using top-down strategies.
The symbol conversion indicator displays all available trading instruments in the Market Monitor window. It also displays all currencies as buttons on the chart. The chart also shows the buttons for each time frame available in the Metatrader.
After clicking on the appropriate currency and the desired time frame, the indicator displays the chart in the currently opened window. It eliminates the need for Forex investors to open a whole new window to view each chart. It also helps traders to keep a small number of open charts in order to focus on their trading strategies.
Achieving Success Forex trend traders use top-down technical data analysis to determine the direction of the trend. When performing top-down analysis, technical traders first check the strategy using the upper time frame chart and then move to the lower time frame chart. This is because, in the field of analytical terminology, the more advanced time frame charts are considered as the most useful. In fact, the more advanced time frame charts show the larger trend and ensure a stable direction of the market.
In the process of trend trading, forex traders sift through the daily charts to find previous trends. When the direction of the trend is identified, the trader displays the H4 chart to demonstrate the direction of the trend. Then moves to the chart H1, and lower. In this example, the indicator for the MT4 conversion symbol allows the trader to display the chart without having to open many separate charts at the same time.
In addition, traders can add this symbol conversion for MT4 indicator to any chart with a time frame to change and display the chart of their choice. It is easy and convenient for novice or experienced Forex traders to move quickly between charts.
Metatrader’s Symbol Changer indicator is compatible with all time frames. It is an important tool that can be downloaded for free. In fact, this Symbol Changer MT4 indicator performs perfectly and changes to the chart and time frame you want in an instant.