Introduction to the Second Chart Indicator
The Second Chart Indicator is a very useful tool that displays candles of chosen currency pair in a sub-window placed just below the main trading chart.
It could be handy in various situations. For example, when you have many indicators plotted over candlesticks and you want to see the price action clearly. You can also set a different currency pair to display, it would be useful to see the correlation.
This indicator fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Second Chart indicator in MT4?
Copy and paste the second-chart-indicator.mq4 or second-chart-indicator.ex4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, that goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
Click the link below:
The Second Chart indicator is well worth adding to your trading collection but remember about having realistic expectations. It doesn’t generate buy/sell signals on its own, but it will well support your technical analysis.