The another symbol ad indicator for MetaTrader 4 offers traders the ability to display the quotes of other financial instruments or timeframe within the current chart’s window. One of the benefit of doing this is to always have an eye on divergences between quote charts of the represented symbols.
The solution to the problem of searching of divergences between quotes of two different currency symbol is available in the another_symbol_ad indicator. However, the indicator limits the display to just a simple line, which obviously is one of the three different chart types.
The another_symbol_ad indicator puts on the screen the data of another pair in a separate window within the current chart. You’ll find the symbol name clearly listed in the “Symbol” field, in the “Input” tab under the Indictor’s popup properties dialog box.
It is also possible in addition to stipulate the preferred timeframe (the “Timeframe” parameter) and the price of one of the bars (the “Price” parameter). To be able to extend the functionality of the another_symbol_ad indicator, check the “Price” parameter and under its corresponding “Value” field, the drop box contains varying options for the computation of the mean price of candles, weighted and typical prices.
The fact that the indicator does not sync with the chart, this attribute is one of the core of the another_symbol_ad indicator.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (Symbol, Timeframe, Price, Number of Bars to Display), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month