How to Overlay Two Indicators in MT4: A Step-by-Step Guide

How to overlay two indicators in MT4

MetaTrader 4 (MT4) is a popular trading platform used by many forex traders around the world. One of the key features of MT4 is the ability to overlay multiple indicators onto your charts. This can be useful for analyzing market trends and making informed trading decisions.

Table Of Contents

In this step-by-step guide, we will show you how to overlay two indicators in MT4. By combining the insights provided by multiple indicators, you can gain a more comprehensive understanding of the market and potentially increase your trading success.

To begin, open the MT4 platform and select the chart you want to work with. Right-click on the chart and select “Indicators” from the drop-down menu. This will open the “Navigator” window on the left side of the platform.

In the “Navigator” window, you will see a list of available indicators categorized by type. Choose the first indicator you want to overlay and double-click on it. This will bring up the indicator settings window.

Adjust the settings of the first indicator according to your preferences and click “OK” to apply the changes. The indicator will now be overlaid onto your chart. Repeat the process for the second indicator you want to overlay, adjusting the settings as necessary.

Once both indicators are overlaid onto the chart, you can customize their appearance and position by right-clicking on the chart and selecting “Properties” from the drop-down menu. This will open the “Properties” window, where you can change the colors, line styles, and other visual settings of the indicators.

Overlaying two indicators in MT4 allows you to combine the strengths of different technical analysis tools and gain deeper insights into market trends. By following this step-by-step guide, you can easily overlay multiple indicators onto your MT4 charts and enhance your trading strategy.

Step 1: Accessing the MT4 Platform

To begin overlaying two indicators in MT4, you will need to access the MT4 platform. Follow the steps below to access the platform:


Step 1:	Open your preferred web browser.
Step 2:	Search for “MT4 platform” in your preferred search engine.
Step 3:	Click on a reliable source or broker that offers the MT4 platform.
Step 4:	Look for the “Download” or “Download MT4” button on the broker’s website.
Step 5:	Click on the “Download” button to start the download process.
Step 6:	Once the download is complete, open the downloaded file.
Step 7:	Follow the installation instructions provided by the MT4 platform installer.
Step 8:	After the installation is complete, launch the MT4 platform.

After completing these steps, you should now have access to the MT4 platform for overlaying two indicators.

Step 2: Adding the First Indicator

Now that you have your MetaTrader 4 platform open and a chart selected, it’s time to add the first indicator to your chart. Follow the steps below to do so:

Click on the “Insert” menu located at the top of the platform.
A drop-down menu will appear. From this menu, select “Indicators”.
Another drop-down menu will appear, showing a list of indicator categories. Choose the desired category that corresponds to the type of indicator you want to add.
A sub-menu will appear, displaying a list of specific indicators within the chosen category. Scroll down and select the indicator you want to add.
After selecting the indicator, a new window will open, allowing you to customize its settings. Adjust the settings according to your preferences and click “OK”.
The indicator will now be added to your chart, and its results will be displayed accordingly.
To further customize or remove the indicator, right-click on the chart area where the indicator is displayed and select the appropriate option from the context menu.

By following these steps, you can add any indicator of your choice to your MetaTrader 4 chart. Make sure to repeat this process for the second indicator that you want to overlay on your chart.

Read Also: Why Buy Weekly Options? - Pros and Cons of Short-Term Trading


Note:	Remember to adjust the settings and customize each indicator before overlaying them to ensure they provide you with the desired information.

Step 3: Adding the Second Indicator

Once you have successfully added the first indicator to your MT4 platform, you can proceed to add the second indicator that you want to overlay.

To add the second indicator, follow these steps:

1. Open the Navigator window by clicking on “View” in the menu bar, and then selecting “Navigator” or by using the shortcut key combination “Ctrl+N”.

2. In the Navigator window, locate the “Indicators” section and expand it by clicking on the small triangle next to it.

3. Browse through the list of indicators and find the one you want to add. Select it by clicking on it once.

Read Also: Understanding mathematical indicators: A comprehensive guide

4. Drag and drop the selected indicator onto the chart where the first indicator is already applied. Alternatively, you can right-click on the selected indicator and choose “Attach to a chart” from the context menu.

Note: Make sure to drop the second indicator on the same chart where the first indicator is applied. If you drop it on a different chart, the two indicators will not be overlaid.

5. A dialog box will appear with the indicator’s settings. Adjust the settings according to your preferences and click “OK” to apply the second indicator to the chart.

You should now see both indicators overlaid on the chart. You can adjust the position and appearance of the indicators using the options available in the MT4 platform.

Repeat this process if you want to add more indicators to the same chart.

FAQ:

Can I overlay two indicators in MT4?

Yes, you can overlay two indicators in MT4 by dragging and dropping one indicator onto another in the Navigator window.

What is the purpose of overlaying two indicators?

The purpose of overlaying two indicators is to combine their signals and generate more accurate trading signals.

How do I overlay two indicators in MT4?

To overlay two indicators in MT4, first, open the Navigator window, then locate the indicators you want to overlay. Next, click and drag one indicator onto another in the chart window.

Can I adjust the settings and colors of the overlaid indicators?

Yes, you can adjust the settings and colors of the overlaid indicators by right-clicking on the chart, selecting “Indicators List,” then double-clicking on the indicator you want to modify.

Is it possible to overlay more than two indicators in MT4?

Yes, it is possible to overlay more than two indicators in MT4 by following the same steps mentioned earlier. You can simply drag and drop additional indicators onto the overlaid ones.