For many the first few hours with MetaTrader 4 can be difficult for those who are not used to the platform and even the easiest things such as adding and removing indicators to charts can be challenging. Today I’m going to show you how to first add indicators and then how to remove them from charts in MetaTrader 4.
In the first screenshot (all screen shots can be enlarged by clicking on them) you can see I have only the USD/JPY open in Candlestick form, if you have more than one chart open at the same time your going to need to highlight the relevant window before adding an indicator. This is done by clicking the bar above the actually chart. Now move to the indicator tab as highlighted in the above screenshot and click, a list of indicators will now be displayed, see screenshot below:
I have highlighted the Moving Average option, to add a Moving Average to my chart I simply click the option and a option box will be opened. This option box allows you to set the period, line color and calculation of each different indicator you can add to the chart. As you can I see I have opted for a 21 Day Exponential Moving Average. All I need to do is click Okay to add this indicator to the chart.
After clicking okay the Indicator will be added to the chart and will calculate and update the Indicator automatically. However if you decide you no longer want that particular indicator on your chart all you have do is right click on the chart where the indicator is. For example if the Indicator is a moving average you right click on the line of the moving average and you will be given the option to delete the particular indicator from the chart. Simply left Click the delete option and the Indicator will be removed from your chart.
And that is how you add and remove indicators in MetaTrader 4. All screenshots were taken using Markets.com version of the MetaTrader 4 software.