Mini Charts Indicator For MT4 | Download Free Best MT4 Indicators (2024)

The Mini Charts indicator for MetaTrader 4 (MT4) is a technical analysis tool that allows traders to view multiple chart timeframes in a single subwindow. This indicator can be helpful for traders who want to quickly switch between different timeframes or who want to compare the same market on multiple timeframes.

To use the Mini Charts indicator, traders first need to install it on their MT4 platform. Once the indicator is installed, traders can attach it to a chart and customize its appearance and behavior. For example, traders can choose which timeframes to display, the size and position of the chart subwindow, and the color and style of the charts.

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The Mini Charts indicator can be a useful addition to a trader’s toolkit, as it allows them to easily compare different timeframes and make informed decisions based on the larger market trend. However, it is important to remember that technical analysis should not be the sole basis for trading decisions, and traders should always consider other factors such as fundamental analysis and risk management.

How to use Mini Charts Indicator for MT4

To use the Mini Charts indicator in MetaTrader 4 (MT4), follow these steps:

1. Install the indicator on your MT4 platform. There are several ways to do this, including downloading the indicator from a website or copying it from another MT4 installation.
2. Open the MT4 platform and go to the “Insert” tab on the top menu. Then, click on “Indicators” and select “Custom” from the submenu.
3. Scroll through the list of available indicators and select the Mini Charts indicator.
4. Attach the indicator to a chart by clicking on the chart and then clicking on the “Attach to chart” button.
5. Customize the appearance and behavior of the Mini Charts indicator by using the options in the “Properties” tab. This includes choosing which timeframes to display, the size and position of the chart subwindow, and the color and style of the charts.
6. Once you are satisfied with the settings, click “OK” to apply the indicator to the chart. The Mini Charts indicator will then be displayed in a subwindow below the main chart.

It’s important to note that the Mini Charts indicator is a technical analysis tool and should not be used as the sole basis for trading decisions. Traders should always consider other factors such as fundamental analysis and risk management when making trading decisions.

Mini Charts Indicator MT4 trading settings

The Mini Charts indicator in MetaTrader 4 (MT4) has several customizable settings that allow traders to tailor its appearance and behavior to their specific needs. Here are some of the main settings that traders can adjust:

1. Timeframes: This setting allows traders to choose which timeframes to display in the Mini Charts indicator. By default, the indicator displays the current chart timeframe as well as the four timeframes above and below it. However, traders can choose to display any combination of timeframes that they wish.
2. Chart type: This setting allows traders to choose the type of chart that is displayed in the Mini Charts indicator. The available options are line chart, bar chart, and candlestick chart.
3. Chart size: This setting allows traders to adjust the size of the chart subwindow. Traders can choose to make the charts larger or smaller by dragging the edges of the subwindow.
4. Chart position: This setting allows traders to choose where the chart subwindow is displayed in relation to the main chart. The available options are below the main chart, to the right of the main chart, and in a separate window.
5. Colors: This setting allows traders to choose the colors of the various elements of the chart, such as the background, gridlines, and price bars.
6. Style: This setting allows traders to choose the style of the chart, including the thickness and type of the price bars, the presence or absence of gridlines, and the type of chart legend.

These are just a few of the settings that traders can adjust when using the Mini Charts indicator in MT4. It’s important to experiment with different settings to find the combination that works best for your trading style and needs.

Mini Charts Indicator Advantages

The Mini Charts indicator for MetaTrader 4 (MT4) has several advantages that make it a useful tool for traders. Some of the main advantages of this indicator include:

1. Multiple timeframes in a single subwindow: The Mini Charts indicator allows traders to view multiple timeframes in a single subwindow, which can be useful for comparing different timeframes and identifying trends and patterns.
2. Customizable appearance and behavior: The Mini Charts indicator has several customizable settings that allow traders to tailor its appearance and behavior to their specific needs. This includes the ability to choose which timeframes to display, the size and position of the chart subwindow, and the color and style of the charts.
3. Easy to use: The Mini Charts indicator is easy to install and use, even for traders who are new to technical analysis. The indicator’s user-friendly interface makes it easy to customize the settings and attach it to a chart.
4. Can be used in conjunction with other indicators: The Mini Charts indicator can be used in conjunction with other technical analysis indicators, such as moving averages or oscillators, to help traders identify trends and make informed trading decisions.
5. Free or low-cost: Many versions of the Mini Charts indicator are available for free or at a low cost, which makes it an affordable tool for traders.

Overall, the Mini Charts indicator can be a useful addition to a trader’s toolkit, as it allows them to easily compare different timeframes and make informed decisions based on the larger market trend. However, it is important to remember that technical analysis should not be the sole basis for trading decisions, and traders should always consider other factors such as fundamental analysis and risk management.

Mini Charts Indicator Disadvantage

While the Mini Charts indicator for MetaTrader 4 (MT4) has several advantages, it also has some potential disadvantages that traders should be aware of. Some of the main disadvantages of this indicator include:

1. Limited to chart data: The Mini Charts indicator is a technical analysis tool that is based on chart data. As such, it can only provide a limited view of the market, as it does not take into account fundamental data such as economic indicators, company financials, or news events.
2. Can be misleading: The Mini Charts indicator can sometimes provide false signals or give traders a misleading view of the market. This can happen if the indicator is not used correctly or if it is used in isolation without considering other factors such as fundamental analysis or risk management.
3. Not a standalone solution: The Mini Charts indicator should not be used as the sole basis for trading decisions. Instead, it should be used in conjunction with other tools and techniques, such as fundamental analysis and risk management, to help traders make informed decisions.
4. Requires interpretation: The Mini Charts indicator provides raw data and does not provide a clear buy or sell signal. Traders need to interpret the data and use their own judgment to make trading decisions.

Overall, while the Mini Charts indicator can be a useful tool for traders, it is important to use it carefully and in conjunction with other tools and techniques to make informed trading decisions.

MC Indicator installation on MT4

To install the Mini Charts indicator on MetaTrader 4 (MT4), follow these steps:

1. Download the indicator: There are several ways to download the Mini Charts indicator, including visiting a website that offers the indicator for free or purchasing it from a vendor. Once you have downloaded the indicator, you will typically receive it in a zip file.
2. Extract the indicator from the zip file: Unzip the file and extract the indicator files from it. These files will typically have the extension .ex4 or .mq4.
3. Copy the indicator files to the MT4 indicators folder: Locate the indicators folder on your computer. This is typically located in the MT4 installation folder (e.g., C:\Program Files\MetaTrader 4\MQL4\Indicators). Copy the extracted indicator files to this folder.
4. Open the MT4 platform: Launch the MT4 platform and open a chart.
5. Attach the indicator to the chart: Go to the “Insert” tab on the top menu, then click on “Indicators” and select “Custom” from the submenu. Scroll through the list of available indicators and select the Mini Charts indicator. Click on the chart and then click on the “Attach to chart” button to attach the indicator to the chart.
6. Customize the indicator settings: Use the options in the “Properties” tab to customize the appearance and behavior of the Mini Charts indicator. This includes choosing which timeframes to display, the size and position of the chart subwindow, and the color and style of the charts.
7. Click “OK” to apply the indicator to the chart: Once you are satisfied with the settings, click “OK” to apply the indicator to the chart. The Mini Charts indicator will then be displayed in a subwindow below the main chart.

That’s it! You have successfully installed and attached the Mini Charts indicator to a chart on your MT4 platform. You can now use the indicator to view multiple timeframes in a single subwindow and make informed trading decisions based on the larger market trend.

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Conclusion

The Mini Charts indicator is a technical analysis tool that allows traders to view multiple chart timeframes in a single subwindow. This indicator can be useful for traders who want to quickly switch between different timeframes or who want to compare the same market on multiple timeframes. The Mini Charts indicator has several customizable settings that allow traders to tailor its appearance and behavior to their specific needs, including the ability to choose which timeframes to display, the size and position of the chart subwindow, and the color and style of the charts.

While the Mini Charts indicator has several advantages, it also has some potential disadvantages. It is based on chart data and does not take into account fundamental data such as economic indicators or news events. It can also provide false signals or give traders a misleading view of the market if not used correctly. Additionally, it should not be used as the sole basis for trading decisions, and traders should always consider other factors such as fundamental analysis and risk management.

Overall, the Mini Charts indicator can be a useful tool for traders, but it should be used carefully and in conjunction with other tools and techniques to make informed trading decisions.