What is Symbol Changer Indicator for MT4?
Symbol changer MT4 indicator is a reliable tool that helps you switch and reflect your most desired currency pair chart and their time frames. Forex traders can benefit from this as they get to see the entire chart directly with a click on any graph that is currently open. This MT4 indicator is an essential tool for traders who are most likely to take a top-down approach.
Download Symbol Changer Indicator for MT4 :
Download Symbol Changer Indicator
But before we talk about this indicator, let us define important thing:
How to add a symbol in MT4?
To add a symbol in MT4, you need to go to View and choose Symbols. Here you can select wished symbols and press “Show.”
Usage of symbol changer indicator
This indicator displays all the crucial information related to the trading tools present in the watch window of the market. The pair of currencies is shown as a button on the price chart. In the MT4, your time frames will be displayed in the form of a button.
When you select a currency pair, the current window will display it as per your choice. This is a time-saving tool for forex traders because they don’t need to open multiple windows to check charts. Hence, enabling them to shift their focus on the trading strategy.
Proficient forex traders often use top-down technical analysis techniques to find the direction of the trend. In essence, traders assess the trading strategy from a higher time frame chart and go down to the lower time frame chart. This is because the higher time frame charts are an essential trading component. They also reflect the sustaining direction of a more significant market trend.
When a trader is engaging in trend trading, they will start their day by taking a quick look at the chart to see the ongoing trend in the market. Once they establish the direction of the movement, an H4 chart will appear to validate the trend’s direction. After that, it will move down to the H1 chart. Here the symbol changer lets the trader access charts without opening too many chart windows.
This indicator is free to download and can be applied to any time frame chart to keep an eye on their desired chart. Hence, it lets you trade without any hassle and gives more clarity.
The symbol indicator for MT4 is operable for all kinds of time frames. Moreover, it is free to download. It makes your trading process flawless by enabling you to shift effortlessly from a one-time frame chart to another.