another symbol
Info
The another symbol is a Indicator for MetaTrader 4 that in some cases, it is necessary to display quotes of another financial instrument (hereinafter - the symbol) or timeframe withing the window of the current chart. an example of this necessity: between the quote charts of two symbols.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use another symbol
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
in some cases, it is necessary to display quotes of another financial instrument (hereinafter - the symbol) or timeframe withing the window of the current chart.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: symbol index with moving averages - another powerful indicator for MetaTrader 4 traders.
in some cases, it is necessary to display quotes of another financial instrument (hereinafter - the symbol) or timeframe withing the window of the current chart. an example of this necessity: between the quote charts of two symbols.
Also recommended: Chart Symbol and Timeframe Watermark - similar indicator with strong performance on MetaTrader 4.
the solution to this problem is available in a variety of options, up to the display of the chart of a different symbol. in this case, however, it will be limited to the display of a simple line, which is one of the four characteristics of the candlestick of another symbol: the opening price, closing, high or low.the another_symbol indicator displays the data of another symbol in the subwindow of the current chart. the symbol name is specified in the "symbol" parameter. in addition, it is possible to specify the desired timeframe (the "chart period" parameter) and the price of one of the candles (the "price" parameter). to extend the functionality, the "price" parameter contains options for the calculation of the average price of candles (median), typical (typical) and weighted (weighted close) prices.
a simple example of the indicator operation - display of the closing price of gbpusd symbol on the chart of the eurusd symbol.
the simplicity of the indicator lies in the fact that it does not synchronize the charts. data is output by the bars indexes, not by time. that is, if for any of the bars of the current chart there is no corresponding bar of the other symbol, there the data from the adjacent (earlier of later) bar will be displayed. this problem is not relevant on the higher timeframes, as such bar gaps are rare. but on the lower timeframes, especially on the chart periods like m1, the time lag can be significant.
the flip side of the problem is the advantage: it is possible to display the m15 or even the m5 chart on the h1 chart.
You may also like: Symbol Swap and Spread Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 clrblue
#property indicator_width1 1
input string i_symbol = "eurusd"; // symbol /
input enum_timeframes i_tf = period_current; // timeframe / .......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.