The MT4 forex trading platform is a popular choice among traders due to its user-friendly interface and advanced features. One of the most useful features of the platform is the ability to view multiple timeframes simultaneously. This allows traders to get a better understanding of the market trends and make more informed trading decisions. In this article, we will explain how to look at 2 different timeframes at the same time on the MT4 forex trading platform.
Step 1: Open a Chart
The first step is to open a chart for the currency pair you want to trade. To do this, go to the ‘Market Watch’ window and find the currency pair you want to trade. Right-click on the currency pair and select ‘Chart Window’. This will open a chart for the selected currency pair.
Step 2: Choose the Timeframe
Once the chart is open, you can choose the timeframe you want to view. The MT4 platform offers multiple timeframes, ranging from one minute to one month. To choose the timeframe, look for the ‘Periodicity’ icon on the top toolbar of the chart window. Click on the icon and select the timeframe you want to view.
Step 3: Add Another Chart
To view two different timeframes at the same time, you need to add another chart to the platform. To do this, go to the ‘File’ menu and select ‘New Chart’. This will open a new chart window.
Step 4: Choose the Currency Pair and Timeframe
In the new chart window, choose the currency pair you want to trade and the timeframe you want to view. This will open a second chart window with the selected currency pair and timeframe.
Step 5: Arrange the Charts
Now that you have two charts open, you need to arrange them on the platform. There are two ways to do this. The first way is to go to the ‘Window’ menu and select ‘Tile Horizontally’ or ‘Tile Vertically’. This will arrange the charts side by side or one above the other.
The second way is to drag and drop the chart windows to the desired location on the platform. To do this, click on the title bar of the chart window and drag it to the desired location.
Step 6: Synchronize the Charts
To make it easier to compare the two timeframes, you can synchronize the charts. This will ensure that the two charts move together when you scroll or zoom in or out. To synchronize the charts, go to the ‘Charts’ menu and select ‘Synchronize Crosshairs’. This will activate the crosshair tool, which allows you to compare the two timeframes more easily.
Step 7: Analyze the Charts
Now that you have two charts open and synchronized, you can analyze the market trends and make more informed trading decisions. By looking at two different timeframes at the same time, you can get a better understanding of the overall trend and the short-term fluctuations.
Conclusion
In conclusion, the MT4 forex trading platform offers a powerful tool for traders to view multiple timeframes simultaneously. By following the steps outlined in this article, you can easily open two different charts and arrange them on the platform. This allows you to analyze the market trends and make more informed trading decisions. We hope that this article has been helpful in explaining how to look at 2 different timeframes at the same time on the MT4 forex trading platform.
