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Symbol Changer

The Symbol Changer indicator for MT5 enables traders to switch between different pairs on a single chart. This indicator is a powerful tool that can help traders make profitable trades and maximize their profits.

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Description

The Symbol Changer indicator for MT5 is a custom indicator designed to display symbols of different currency pairs. It enables traders to switch between different pairs via a button, enhancing trading efficiency.

The indicator is recommended for traders who monitor multiple pairs; it would help them to keep a tab on multiple pairs directly on a single chart. This keeps the chart less messy and enables traders to identify trading opportunities across multiple pairs.

How do I change the symbol on MT5?

To change the currency pair symbol on MT5, click on the “File” tab and “New Chart” to select the pair. Moreover, you can use the Symbol Changer indicator, which enables easy switching between different charts.

Features of the Symbol Changer Indicator for MT5

The indicator is designed with a user-friendly interface to display the symbol of four currency pairs. So, it enables traders to switch between four different symbols with the click of a button. This streamlined feature of the symbol changer makes it a chart-friendly trading tool that allows ample space on the chart for regular technical analysis.

Benefits of Using the Indicator

  • Better Market Coverage: The indicator makes it easy for traders who follow multiple instruments to manage their analysis and trading activities efficiently.
  • Improves Workflow: The indicator helps keep the chart organized, creating a smooth trading workflow. In other words, instead of opening multiple charts for different pairs, traders can easily use the indicator’s button to switch between different pairs.

Indicator Settings Description

The indicator comes with the following customizable settings:

Comment1: Defines how the currency pairs are displayed on the chart.

Pairs: Determines the pairs to be displayed.

Color of a button with trades: Defines the color to display the current pair on the chart.

Corner: Defines the position of the indicator’s button on the chart.

X_start: Determines the left/right position of the chart.

Y_start: Determines the up/down position of the chart.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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