Synthetic Chart 1.0
Metatrader (MT4/MT5) Indicator
The Synthetic Chart indicator is able to create a candlestick chart plotting the price of one instrument measured against another, helping you to find hidden opportunities in the market.
- Find hidden trading opportunities
- Get a broader sense of the price of commodities
- Commodities range against each other and are easier to trade
- Correlated Indices can be traded against each other easily
- Your imagination is the limit with this indicator
For instance, this indicator can plot....
- The price of Dow Jones in Gold Ounzes
- The price of Nasdaq in SP500 shares
- The price of Oil in Silver Ounzes
- The price of Oil in bushels of Corn
- The price of Cattle in tonnes of Copper
- And endless combinations!
Boost your trading activity with the most flexible, powerful and stable Synthetic Chart indicator ever created for the Metatrader platform.
The above settings will plot the price of Gold in Ounzes of Silver, thus creating a synthetic chart we could call XAU/XAG. To go long XAU/XAG, you ought to buy XAUUSD and short XAGUSD simultaneously. Opposite to go short XAU/XAG.
- ≡ Input parameters
When loading the indicator to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- 1st Symbol
- Type the native symbol of the chart to be plotted. For example, XAUUSD.
- 2nd Symbol
- Type the reference symbol of the chart to be plotted. For example, XAGUSD.
- ? FAQ
- Does the indicator repaint?
- No, it does not. Once a bar closes, it will not repaint.
- How can I trade a synthetic chart?
- You trade a synthetic chart by going long one symbol and short the opposite symbol, effectively selling one and buying the other simultaneously, just like you do with a forex pair, but with a single trade.