As one progresses in their trading journey, there becomes a time to start understanding the correlation between different currencies or asset types.
You may wish to see how all currencies involving the Euro are moving relative to each other. This can give an indication of whether a currency is strong across the board, or only against very weak currencies.
Alternatively, if you already know the Euro is a strong currency, comparing currencies involving EUR can let you identify the currency pair involving EUR that is going to give the best trading opportunity.
Metatrader 4 has always been missing any functionality that allows you to see different assets side by side and quickly compare them on any chosen time frame. It has only been possible to set up all your charts with the right symbols individually and then set them to whichever time frame you are interested in one by one. This is both time-consuming and frustrating.
LMBFTimeframeSync provides an easy solution for keeping timeframes across different assets in sync. If the period of one chart is changed, the time frame also instantly changes in all the other charts.
LMBFTimeframeSync also allows you to see a vertical timeline that synchronises across all charts. This allows you to quickly compare price action at the same point in time across different symbols.
Follow these steps to have multiple charts of different symbols always keep the displayed timeframe in sync.
Open up charts in your terminal for each symbol you are interested in and arrange them on your screen as needed.
Ensure the Navigation window is open (CTRL-N) and find the LMBFTimeframeSync under the list of custom indicators.
Drag and drop the indicator into each open chart, one by one. Each time you drop the indicator on a chart, the time frames of all other charts that already have the indicator loaded will change to the timeframe of the last chart loaded with the indicator.
Once the indicator is installed, pressing the X key will toggle a time-line on and of. This will also apear synchronised across all charts with the LMBFTimeframeSync indicator installed.