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Line copy indicator

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  • How to install
  • How to set up
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MT4 MT5

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The line copy indicator is an indicator that allows objects such as trendlines drawn on a chart to be automatically copied and displayed on the charts of different timeframes. It is useful when performing multi-timeframe analysis.

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Features

Various objects can be copied

It allows you to copy not only trendlines, but also various objects on MetaTrader4/MetaTrader5. It can copy Rectangle, Triangle, Gann, Fibonacci, Elliott, etc., and makes it suitable for all types of markets and trading styles.

Line copy indicator (H1/H4) Line copy indicator (H1/H4)
point What are "objects"?

On MetaTrader4/MetaTrader5, the shapes such as trendlines or Fibonacci lines inserted into the chart by the user are collectively called "objects".

The line copy indicator can also automatically reflect lines and other objects in multiple charts of the same symbol. For example, a line drawn on a USD/JPY chart in 1-hour timeframe can be reflected in a number of charts, including 15-minute, 30-minute, or 4-hour timeframes.

The copyable objects with the line copy indicator for MetaTrader5 are as follows.

Lines Vertical Line, Horizontal Line, Trendline, Trend Line By Angle, Cycle Lines, Arrowed Line
Channels Equidistant Channel, Standard Deviation Channel, Regression Channel, Andrews" Pitchfork
Fibonacci Fibonacci Retracement, Fibonacci Time Zones, Fibonacci Fan, Fibonacci Arcs, Fibonacci Channel, Fibonacci Expansion
Gann Gann Line, Gann Fan, Gann Grid
Elliott Elliott Motive Wave, Elliott Corrective Wave
Shapes Rectangle, Triangle, Ellipse
Arrows Up Arrow, Down Arrow
Graphical Text, Label

Note: Once an object has been copied, if the one on the source chart has been edited or deleted, it can also be reflected on the destination charts.

caution Edits/deletions on destination chart are not synchronized

Edits/deletions to existing objects are copied only when it is performed on the chart to which the line copy indicator was applied. Changes made on the chart without this indicator will not be synchronized. If you want to copy bilaterally, apply the indicator to multiple charts.

Copy among the selected charts

The basic function of the line copy indicator is that when applied to one chart, lines and other objects are copied to all charts of the same symbol. However, when using the "Synchronized chart group" parameter you can make only particular charts copy for each other.

On the "Synchronized chart group" parameter, you can select from three groups, "A", "B", and "C". Objects on a chart assigned to one of these groups are only copied among the charts of the same group. They are not copied even if other charts of the same symbol are open.

Charts of the same group are basically copied bilaterally. If you only want to copy in one direction, either from higher timeframe charts to lower ones, or from lower to higher, please use the "Timeframe of destination chart" parameter.

Turn on and off

Copying can be turned on and off with the "ON/OFF" button in the top left-hand corner of the chart window. Objects added or edited while OFF are not copied. This can be utilized when you want to add objects only to a specific chart or when you want to change the location of the object.

ON/OFF button ON/OFF button

Identify the timeframe of source chart

On the line copy indicator, by using the "Color settings" parameter, you can automatically change the color of objects according to the timeframe of the source chart. This makes it easier to identify which timeframe the line was copied from when checking multiple timeframes.

For example, if you set the source to display the 1-hour chart in orange and the 4-hour chart in blue, you can see at a glance on the destination chart which timeframe"s chart has been copied from.

Copy from several timeframes Copy from several timeframes

You can also hover the mouse pointer over a copied object to check the timeframe of the chart on which the original object was drawn.

Check with tooltip Check with tooltip
How to install
How to set up

How to install

To use the line copy indicator, install the "【Myforex】Line Copy Indicator" file on MetaTrader4/MetaTrader5.

Step 1

Click "File" from the menu bar at the top of MetaTrader4/MetaTrader5 and choose "Open Data Folder".

Open data folder

Step 2

After opening the data folder, double-click the folder "MQL5 (MQL4 for MetaTrader4)" in it to open it.

Open MQL5 file

Step 3

Double-click to open "Indicators" folder in the MQL5 file.

Open Indicators

Step 4

Save the "【Myforex】Line Copy Indicator" in the "Indicators" folder.

Save indicator

Step 5

Once the file is in the folder, right-click "Indicators" in the Navigator and choose "Refresh" from the displayed menu.

Refresh indicator

Step 6

After checking that the line copy indicator is shown in the "Indicators" of the Navigator, apply it to a chart by double-clicking or dragging and dropping.

Apply the line copy indicator Apply the line copy indicator

Step 7

Refer to the "How to set up" page to make further settings in the "Inputs" tab, then click "OK".

Displaying parameter Displaying parameter

Step 8

The line copy indicator is applied to the chart and the "ON" button appears in the top-left corner. Only lines and other objects added or edited after it is turned on are subject to copying.

Displaying the line copy indicator Displaying the line copy indicator

Overview
How to set up

How to set up

After applying the indicator to the chart, set the parameters according to your style.

Step 1

First, open the "Inputs" tab.

Open Inputs tab

Step 2

Set the parameters as follows.

Parameter settings

Number

Item name

Description

1

Synchronized chart group

Set the group of charts to be synchronized.

・OFF: The object is copied to all charts of the same symbol as the one to which this indicator is applied.
・A, B, C: Copies the object only to the chart to which this indicator is applied and the same alphabet is selected.

2

Timeframe of destination chart

Select the timeframe of the charts to copy from "All", "Higher timeframe", or "Lower timeframe".

・All: The objects will be copied to all charts with the same symbol
・Higher timeframe: The objects will only be copied to the timeframe higher than the one to which the indicator is applied.
・Lower timeframe: The objects will only be copied to the timeframe lower than the one to which the indicator is applied.

Color settings ①

Number

Item name

Description

3

Timeframe

Select the timeframe for color settings ①.

4

Color

Select the color of objects for color settings ①.

Color settings ②

Number

Item name

Description

5

Timeframe

Select the timeframe for color settings ②.

6

Color

Select the color of objects for color settings ②.

Color settings ③

Number

Item name

Description

7

Timeframe

Select the timeframe for color settings ③.

8

Color

Select the color of objects for color settings ③.

Color settings ④

Number

Item name

Description

9

Timeframe

Select the timeframe for color settings ④.

10

Color

Select the color of objects for color settings ④.

Color settings ⑤

Number

Item name

Description

11

Timeframe

Select the timeframe for color settings ⑤.

12

Color

Select the color of objects for color settings ⑤.

Overview
How to install

Date

Created

 : 2022.07.19

Update

Last updated

 : 2022.08.08


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