Offline chart in the platform MetaTrader 4.
Those who use basket trading, sooner or later, come to the issue of visual control of the entire basket of currency instruments. There are two ways to solve this problem:
1. Open five charts (in the case of a basket core5) with the right pairs. If the correlation pairs in a given period of time has changed, this may give a false signal to close your trade, for example, when out important news for a specific instrument – with me is often the case, even closing the basket at a loss, until handed support of trade ProjectReaper expert advisor. It is worth noting that control a basket of five pairs doable task, but what to do when you are running with a basket of 12-2 for example? Watching 14 charts that a challenge – you need a wide display, two is better .. Also, time for analysis and decision making increases with the number of charts in the terminal. So, I am bringing you to the second and most universal solution of this problem..
2. This offline chart that illustrates the movement of the whole basket of orders. To analyze a chart, and make the decision easier, the more you go the total picture of all currency instruments rather than a specific timetable for the currency pair. How to build this chart – very simple .. install indicator Basket_Create_v3_670et.ex4, in the “data directory of your terminal / MQL / Files” create a text file that call as you want, in the first line write the number of the currency pairs in the basket and on each line – pairs.
How to build offline chart in steps:
Step 1. Open the chart of any pair and attach to it the indicator Basket_Create_v3_670et
Step 2. In the settings of the indicator specify the name of your text file with a list of currency pairs in the basket, you can create this file by yourself or download example below this article, copy this text file to MQL4/Files directory of your mt4 terminal. Setup working timeframe on which will be built offline chart and the name of the chart. Now you can minimize the chart window (don’t close it, because it’s necessary for calculating of the indicator)
Step 3. Come to the File-> Open Offline menu and open the chart with the name you specified. Done!
I will give an example in the screenshot, this basket core5, pay attention to the movement of the euro / dollar and the basket itself .. I pointed trend lines for ease of reference. Basket goes to retest the resistance zone, the euro / dollar is on the way, a couple of days, the trend will continue.. but when all pairs are in the zones can signal the continuation trend or reversal of that .. resistance zone will or will support zone.