In this blog I'm gonna explain how create additional time frame not supported by meta trader 4, we all know that meta trader only supports, M1,M5,M15,M30,H1,H4,D1,W1 and MN?!!
If we wanna create another time time not supported by meta trader such as H2 , H8 , D2 or yearly chart, then we need " period converter " indicator , by multiplying H1 with 2 we can get the H2 time frame for example..
First of all download P4L PeriodCon indicator from the link below:
then put the indicator in this directory :
C:\Program Files (x86)\MetaTrader 4\experts\indicators, If you use windows 7 64 bit or
C:\Program Files \MetaTrader 4\experts\indicators, If you use windows 7 32 bit
Remember MetaTrader 4 in program files might be your broker name !!
After that close meta trader and open it once again..
Now I'm gonna explain how to create the yearly chart:
1- Open new window with monthly time frame for any pair you want.
2- Go to custom indicators, look for P4L PeriodCon indicator, double click on it , under common, make sure that " Allow dll imports" is checked , under inputs, we will change period multiplier to 12 since we need the yearly chart which is 12 times of the monthly, then click OK.
3- Then go to File , choose "open offline " double click on it , then a small window will open, look for EURUSD x12,Monthly , and click on open, a new chart will open named "EURUSD x12,Monthly offline" now you can add your indicators or template or customize the chart as you want .
Note: You should keep the original chart that we added to it "P4L PeriodCon "indicator open , If you close it , then price won't move at the offline chart...
The last point , go to Tools> Options > Charts , we wanna change "Max bars in history & Max bars in chart " to the maximum number we can use for example : 9999999999 then OK!
We do this step to let meta trader use all the data in the history , this step is useful if you wanna create big time frames such as yearly or for back testing !!
If you don't have too much data in meta trader , simply you can download old data from meta quotes server , go to Tools> History center , click on the pair you want, then click the download button , and meta trader will start downloading old database from meta quotes server, It's recommended to use this step on a demo account...