Since the launch of the MT4 terminal in 2005, the terminal has gone through different improved styles like flat, material design, skeuomorphism, etc. The aim of this series of improvements is simple: to give users a better experience with the MT4 terminal.
Regardless, the terminal hasn't shown much significant improvement since 2005 especially when the chart layout is brought under scrutiny.The terminal, by default still displays a black window containing a brightly colored chart which isn't appealing to the eye or befitting for this modern age.
Therefore, the Chart.Overlay indicator is the answer to some of the shortcomings that are associated with the common MT4 terminal.
Chart.Overlay Indicator
Chart.Overlay is a template indicator designed for MT4 platforms. It is built with lots of improved features that target and meet the needs of the modern-day trader. The idea behind Chart.Overlay indicator is to design a compact, innovative, and easy-to-use template that has a professional workplace.
Being highly compacted, the indicator template maintains the original spaces between candlesticks when zoomed. This helps you to still get an accurate view of the market condition even on a higher horizontal zoom level.
This indicator template also comes with ten different color palettes for users to work with. Furthermore, each template of the indicator is predesigned with a unique chart background and candlesticks. The templates are grouped into two categories known as light and dark; they are five in each unit.
Indicator Features
The Chart.Overlay indicator comes with some intuitive features to improve the trading experience of the user. One of the noticeable features is the presence of HotKey which helps you to easily switch between different templates. This takes away the stress of going through the long route of the indicator settings window just to make a change.
The "t" key is responsible for this functionality; use it to select your desired template. What's more, the terminal is programmed to remember any template chosen by the user until the next reload. This is made possible because the template of the Chart.Overlay indicator would be automatically installed on your terminal when you run it.
Another great feature of this indicator template is the muted volume functionality. This feature helps to define areas with high and low volumes with designated colors. This information is to help you with good visuals of the market volume to make a better trading decision.
Indicator Settings
The Chart.Overlay indicator template has different parameters and settings that are customizable by users.
Mute Candles with - this is used to determine (Mute/Unmute) what happens to candlesticks on your chart. It has three values which include the following:
Regardless, the terminal hasn't shown much significant improvement since 2005 especially when the chart layout is brought under scrutiny.The terminal, by default still displays a black window containing a brightly colored chart which isn't appealing to the eye or befitting for this modern age.
Therefore, the Chart.Overlay indicator is the answer to some of the shortcomings that are associated with the common MT4 terminal.
Chart.Overlay Indicator
Chart.Overlay is a template indicator designed for MT4 platforms. It is built with lots of improved features that target and meet the needs of the modern-day trader. The idea behind Chart.Overlay indicator is to design a compact, innovative, and easy-to-use template that has a professional workplace.
Attached Image
Being highly compacted, the indicator template maintains the original spaces between candlesticks when zoomed. This helps you to still get an accurate view of the market condition even on a higher horizontal zoom level.
This indicator template also comes with ten different color palettes for users to work with. Furthermore, each template of the indicator is predesigned with a unique chart background and candlesticks. The templates are grouped into two categories known as light and dark; they are five in each unit.
Indicator Features
The Chart.Overlay indicator comes with some intuitive features to improve the trading experience of the user. One of the noticeable features is the presence of HotKey which helps you to easily switch between different templates. This takes away the stress of going through the long route of the indicator settings window just to make a change.
The "t" key is responsible for this functionality; use it to select your desired template. What's more, the terminal is programmed to remember any template chosen by the user until the next reload. This is made possible because the template of the Chart.Overlay indicator would be automatically installed on your terminal when you run it.
Another great feature of this indicator template is the muted volume functionality. This feature helps to define areas with high and low volumes with designated colors. This information is to help you with good visuals of the market volume to make a better trading decision.
Indicator Settings
Attached Image
The Chart.Overlay indicator template has different parameters and settings that are customizable by users.
Mute Candles with - this is used to determine (Mute/Unmute) what happens to candlesticks on your chart. It has three values which include the following:
- Do not mute - used to keep candlesticks unmuted.
- Low Volume - used to mute candlesticks that have low volume.
- Small Body - used to mute candlesticks that have a small body.
Percentage of muted candles - this is where the percentage of muted candlesticks is displayed. The parameters range between 30 and 70.
Last Candle - this parameter is used to determine how the last candlestick is formed on the chart. They include the following:
- Always highlight - this option makes the last candlestick to be brightly highlighted in the appropriate color (bullish or bearish candlestick).
- Calculate Volume - this parameter is used to calculate the current volume of the price in sync with the elapsed time.
Indicator installation
Download Link
1. Download and unzip the archive to the MQL4 folder of the terminal;
2. Restart the terminal and run the indicator;
3. Allow import of DLLs.