Symbol Synthesizer Chart for MT4
Info
The Symbol Synthesizer Chart for MT4 is a Indicator for MetaTrader 4 that synthesizes symbols for real-time offline chart display in metatrader 4, similar to the mt5 version. This tool requires the source symbols to be present in your Market Watch window.
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 Symbol Synthesizer Chart for MT4
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
Synthesizes symbols for real-time offline chart display in MetaTrader 4, similar to the MT5 version.
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.
Synthesizes symbols for real-time offline chart display in MetaTrader 4, similar to the MT5 version.Also recommended: Chart Symbol and Timeframe Watermark - similar indicator with strong performance on MetaTrader 4.
This tool requires the source symbols to be present in your Market Watch window.It functions like the period_converter_opt.mq4, creating a synthesized chart.
Key Parameter Differences and Settings:
extern int spread = 0;
Specifies the spread in points for the synthesized symbol (ssym01 chart). A value of 0 uses the current spread.
Since MT4's historical data lacks past spread information, this is needed to calculate virtual prices when dividing.
extern int vdigits = 5;
Sets the number of digits for the synthesized symbol. This replaces the omitdigit function from period_converter_opt.mq4.
extern string vsymbol = "eurusd_v";
The desired name for the generated synthesized symbol. Names should be less than 11 characters.
string ssym01 = "eurgbp"; // (not an external variable)
The first source symbol.
This is automatically set to the symbol of the chart the indicator is attached to.
Attaching the tool to this symbol's chart is recommended to prevent "insufficient data" errors when 'scal' is set to 'd', especially if ssym01's history file is limited.
extern string ssym02 = "gbpusd";
The second source symbol.
This must exactly match a symbol name in your Market Watch window, including any prefixes or suffixes.
extern string scal = "m";
Determines the calculation method for synthesis. Use "m" for multiplication or any other string (like "d") for division.
Multiplication (scal = "m"):
Use this when the virtual price of vsymbol can be derived by multiplying ssym01 and ssym02.
Examples:
vsymbol="eurusd" ssym01="eurgbp" ssym02="gbpusd"
vsymbol="eurjpy" ssym01="eurgbp" ssym02="gbpjpy"
vsymbol="eurjpy" ssym01="eurusd" ssym02="usdjpy"
vsymbol="btcjpy" ssym01="btcusd" ssym02="usdjpy"
Note: For multiplication, ssym01 and ssym02 can be interchanged. It is often more efficient to set the major pair as ssym01 for more frequent ticks.
Division (scal = "d" or other):
Use this when the virtual price of vsymbol can be derived by dividing ssym02 by ssym01.
Examples:
vsymbol="usdjpy" ssym01="eurusd" ssym02="eurjpy"
vsymbol="zarjpy" ssym01="usdzar" ssym02="usdjpy"
vsymbol="eurusd" ssym01="usdjpy" ssym02="eurjpy"
Note: For division, ssym01 and ssym02 cannot be interchanged. The currencies underlined in the examples (like USD in usdjpy) are considered "media" currencies in these calculations.
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 indicator_chart_window
#property version "1.00"
#include <winuser32.mqh>
/*
readme1: (about symbolsynthesizer_chart.mq4 from alohafx)------------+
this tool synthesizes any symbol from other symbols on market watch window.
basic use is same with period_converter_opt.mq4 since this is based on it.
differences in parameter settings are;.......
⚠ 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.