Wondering how to change timeframe on MT4? In this article, you’ll learn how to change and use custom timeframes on Metatrader 4 so that you can make any time frames you wish and trade on any charts.
July 22 2020 | AtoZ Markets – Have you ever wanted to change your own timeframes in Metatrader 4 (MT4)? Sometimes, it becomes necessary to change the standard timeframe of the MT4 platform to a different, custom one. This may be due to the fact that some trading systems (indicators or experts) show the best results on other timeframes that differ from those offered in MT4.
As you read on, I’m going to show you how to do just that. MT4 is an award-winning Forex trading platform and is the most popular trading platform on the market today. With MT4, you can create custom trading robots called Expert Advisors (EAs), and you can automatically backtest trading strategies.
Users of MT4 also enjoy a community of traders that program and freely share their own EAs. In fact, most of the custom indicators, scripts, and Expert Advisors are built and distributed by this tech-savvy user community. Almost anything can be found, and just about any trading strategy can be programmed.
7 simple steps to change timeframes on MT4
To change all chart timeframes very quickly, just follow these 7 steps:
1: Download these files – MT4 Tools
2: Open Data Folder:
3: Go to ‘scripts’:
4: Drop files into scripts.
5: Restart MT4
6: ‘Set hotkey’ – I choose H, D and W.
7: Press CTRL-D, followed by ENTER, all of your charts will change.
We’ve also added a short video below that will show you another way to change timeframe on MT4.
How to use custom timeframes in MT4
1# Round down to a lower timeframe
We are going to take a standard timeframe that is lower than the one we want and then multiply it to get to our desired timeframe. Let’s explain with an example.
Let’s say you want to have 2-hour charts. For this, you would start with a 1H chart, because you can multiply it by 2 to get to a 2H chart. How about when you want an 8H chart? There are two ways: either you go with the 1H charts and multiply them by 8 or you go with the 4H charts and multiply them by 2.
Last example: you want to have 5-day charts. It makes the most sense to round down to the daily charts and use a multiplier of 5 to get to the desired result.
2# The PeriodConverter Script
Let’s say that we want a 2H chart on EURUSD. We know that we first need a 1H chart for this and then use a multiplication factor of 2. But how do we get the actual 2H chart?
For this, we will need the PeriodConverter script. This script will take one chart as the input to generate the data for your desired chart. This resulting chart is called an offline chart, as it doesn’t directly receive its input from your broker, but instead gets updated using our PeriodConverter script.
Start with opening the initial 1H EURUSD chart, like this:
Now, attach the PeriodConverter script, which should be in your Scripts folder in the navigator, to your chart:
When you do this, the following window will pop up. You need to check two things:
- In the Inputs tab, make sure that the multiplier factor is set correctly.
- In the Common tab, check “Allow DLL imports“. This allows the script to update the offline chart in real-time.
That’s it! We’re done with step 2!
3# Open the Offline chart
The last thing that we need to do is to open our new offline chart. For this, we need to go to the File menu and click “Open Offline”:
The following window should pop up. Select the EURUSD, H2 chart and you’re good to go:
Here’s the end result, side by side. 1H chart on the left, 2H chart on the right:
Conclusion on changing timeframes on MT4
Based on this information, the struggle of changing the MT4 timeframe of the wrong chart is now over! Once you know how to do this, you can forecast price movement and adjust your MT4 Forex trading strategy accordingly.