For broker clients using MT4 or MT5, FX Blue Labs can provide a package of useful, commonly-requested chart indicators.
- Mini chart
- Pivot Points
- Highs and Lows
- Renko bars
- Chart Group
- Symbol Info
- Order History
- Freehand Drawing
- Bar Changer
- Keltner Channel
- Donchian Channel
- Candle Countdown
Please note: some of these indicators may also be made available to registered users of the www.fxblue.com retail website, but the version for broker clients is always branded in your own name and contains no mention of FX Blue.
The Mini Chart indicator creates a chart in a draggable, resizable sub-window inside a main MT4/5 chart. It lets traders see the price action on other instruments and/or timeframes without needing to switch between different MT4/5 charts or profiles.
The Mini Chart has a wide variety of features:
- Timeframes such as M4 and H3 in addition to standard timeframes such as M1 or H1
- Tick bars (e.g. bars made up of 10 ticks each) and seconds bars (e.g. 20-second bars)
- Range, Renko, Kagi and Point & Figure charts
- Data-transformations such as Heikin Ashi and Three Line Break
The Pivot indicator shows traditional pivot points based on the high, low and close of the previous day's trading. The trader can adjust the calculation, e.g. drawing D1 pivot points on an H1 chart, and change the basis of the pivot calculation. The trader can also add more than one copy of the indicator to a chart, e.g. in order to show both the D1 and H4 pivot levels on an H1 chart.
The indicator can also be configured to issue alerts whenever the price crosses one of the pivot levels.
The High-Low indicator shows historic highs and lows on a chart, e.g. yesterday's D1 high and low on an M15 chart. The trader can add multiple copies of the indicator to a single chart in order to show different historic price levels. The indicator also has several sophisticated features such as the ability to choose a daily time range so that the high and low are only applied to core trading hours - particularly useful on equities or indices which may have 24-hour pricing while only seeing significant activity while an exchange is open.
The indicator can also be configured to issue alerts whenever the prices crosses a historic high or low.
The Renko bar indicator draws Renko bars on top of a normal MT4/5 chart, i.e. as blocks of varying duration/length. It can also generate range bars.
In MT4, the indicator can also be used to generate an offline chart showing a more traditional Renko view, where the blocks are of constant size and the duration represented by the X axis is variable. (MT5 does not yet provide offline charts, and so this functionality is not yet available in the MT5 version of the indicator.)
The Chart Group indicator links charts together so that changing the symbol on one chart automatically changes all the linked charts. For example, the trader opens charts for M5, M15, H1 and D1, and uses the indicator to link them together. Changing the symbol on any one of these charts then automatically changes all the other charts to use that symbol. This provides a faster and much more convenient way of switching a view between different symbols than using MT4 or MT5 profiles.
The indicator can also be used to synchronise chart timeframes rather than symbols, and the trader can set up more than one group of charts, each of which operates independently - with colour-coding to make it clear which charts are linked together.
The Symbol Info creates a draggable sub-window inside an MT4/5 chart which shows three things:
- The % change on the current day (or any other period of the trader's choice)
- The current price in relation to the high and low for the day (or any other period of the trader's choice)
- Up and down signals, on multiple timeframes, from the trader's selection of indicators such as CCI, MACD etc
The trader can add any number of copies of the indicator to the same MT4/5 chart, in order to monitor different symbols and/or timeframes without needing to switch between different charts in MT4/5.
The Gravity indicator shows areas of possible support and resistance based on previous price action, colour-coded to show areas of stronger and weaker market activity.
It can either just draw from the current time onwards, using all the price activity to date, or the trader can set a specific start time in order to test the indicator or to ignore recent price movements.
The Chart-in-Chart indicator draws the price action for an additional symbol as a sub-window on the main chart. You can add multiple copies of the indicator to a chart in order to display multiple symbols. In other words, the indicator provides a quick and easy way to compare the price action on EURUSD against other symbols such as AUDUSD and GBPUSD without needing to open three separate charts.
The price action can be drawn in different styles, and can be inverted (e.g. turning USDJPY into JPYUSD). It is also possible to include some popular technical indicators such as moving averages and envelopes on the secondary display of the price action in the sub-window.
The Magnifier indicator creates a draggable, resizable sub-window inside a main MT4/5 chart which "zooms in" on the selected bars, showing them in more detail from a lower timeframe (e.g. M30 bars on an H1 chart). The Magnifier lets the trader inspect an area of price activity without needing to switch to a different chart or timeframe.
The Order History indicator shows historic trading activity against the price history for a symbol. It not only creates markers showing the entry and exit of each historic position, but also draws bands at the bottom of the charts giving an overview of when there were open positions - both for the chart symbol, and also for all/any other markets.
The Freehand Drawing lets traders draw directly onto a chart, simply by holding down the D key while moving the mouse. It is particularly useful for any kind of trainer or trade leader who wants to be able to highlight particular chart areas, either before sending out a screenshot or - in particular - while conducting a live webinar.
The Bar Changer indicator creates an offline chart in MT4 containing a modified version of the chart on which the indicator is running. (MT5 does not yet provide offline charts, and so this indicator is not yet available for MT5.)
The Bar Changer can make the following modifications to the bar data:
- Adjust the time of each bar (e.g. shift each bar backwards by 2 hours)
- Invert the price, or adjust it to thousands (e.g. converting 1.23456 to 12345.6)
- Exclude parts of each day, e.g. only include 09:00-16:59. This is mainly intended to let traders filter out data on index CFDs which have 24-hour pricing but are only actively traded during core market hours.
The trader can then apply most indicators and EAs to the offline chart (e.g. moving averages), just as they would to a normal MT4 chart.
The Keltner indicator shows Keltner channels: similar to Bollinger® bands, but with the size of the channel varying based on ATR rather than standard deviation.
The trader can set all the usual parameters for the Keltner calculation, plus controlling the type of moving average (EMA, SMA etc) and the price to use (close, weighted, typical etc), and can configure the indicator to generate alerts whenever the current price goes beyond the upper or lower channel.
The Donchian indicator shows Donchian channels: the high and low of the last N bars. In addition to the standard calculation, the indicator can also use variants such as the average of the last N highs/lows, and it can be configured to expand the high-low range by a percentage, or by a multiple of ATR or SD.
The indicator can show values from a higher timeframe than the current chart (e.g. D1 Donchian values on an H1 chart), and the trader can configure alerts when the current price breaches the high or low Donchian values.
The Candle Countdown indicator shows the time remaining in the current bar - either for the current chart timeframe, or for any other timeframe (e.g. time remaining in the current H4 bar while looking at an M15 chart). The indicator can also be configured to issue an alert when a bar is about to close.