Relation – Chart Builder Legacy – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Indicator for building custom charts, which are based on user-defined formula.

    Charts are drawn in bars of the timeframe specified in the indicator settings. Charts of the selected instruments are synchronized in time.

    Spaces in the formula are optional, fractional numbers are only specified using the point.

    To avoid inconsistency in measurement units and to convert everything into the deposit currency, set the InpAlign parameter to true

    Supported operations, by priority of execution:

    Parentheses: (a … b)
    Exponentiation: a ^ b
    Division: a / b
    Multiplication: a * b
    Addition: a + b
    Subtraction: a – b

    Example of application, to find the separation between the currency baskets for the last 1000 bars on the M1 chart:

    InpDepth = 1000
    InpPeriod – PERIOD_M1
    InpExpression = “3 * EURUSD * 1.5 * AUDUSD * GBPUSD – (5 * AUDGBP – 2 * EURGBP) * 1.2 * CHFGBP”

    This results in a chart of the synthetic pair, with the condition of buying 3 lots of EURUSD, 1.5 lots of AUDUSD and so on.

    Idea of the indicator has been adopted from here and MS Excel.

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window