Non-standard timeframes in MT4

Non-standard timeframes in MT4

Non-standard timeframes in MT4

"Millions of traders use the MetaTrader 4 trading terminal. however, not all Forex market participants are able to set up a non-standard timeframe in MT4. They all know about the standard 9 timeframes.

Not all Forex market participants know that it is possible to connect several non-standard timeframes to their trading terminal. In this article, we will clearly show how you can set non-standard timeframes in the MT4 terminal.

What are the standard timelines?
We mentioned above that the MT4 terminal offers its participants nine standard timeframes. We list them in ascending order: M1; M5; M15; M30; H1; H4; D1; W1; MN. This is how they look visually:

standard timeframes

 

Not all Forex traders are aware that they have the opportunity to create additional working timeframes in the trading platform, which are easy to analyze when trading raw materials and stock assets. Non-standard timeframes on Forex visually look different.

What are non-standard timeframes in MT4?
The following non-standard timeframes can be set on the MT4 working terminal: M2; M7; M10; M45; H2; H3; H12.

How do I make a non-standard timeframe in MT4? They are installed using a special script called PeriodConverter. To create non-standard timeframes in The MetaTrader 4 platform, go to "" Navigator ""and then""Scripts"".

how to make a custom timeframe in MT4


As an example, we will show you how to create a non-standard timeframe M10 with M5.

How can I set up non-standard timeframes in MT4?
Let's take a step-by-step look at how to set up non-standard timeframes using the script, in particular M10.

1. Drag the mouse to the working area (Forex chart) our script PeriodConverter. Let's say we want to set up a non-standard timeframe in MT4 for the GBP/USD pair with a standard time of M5.

2. In the script settings, check the boxes in the places marked with a red rectangle in the screenshot below.

how to set up non-standard timeframes in MT4

 

3. Go to the ""Input parameters"" tab to replace the values of the ""Period multiplier factor"" parameter from 3 to 2. the Parameter is a multiplier of the standard timeframe. Our task is to create the M10 timeframe from M5, then the value of the multiplier factor parameter = 2. If you need to create an m3, then multiplier factor = 1.

setting up non-standard timeframes in MT4

 

4. As soon as the "" OK "" button is clicked, the corresponding entry will appear in the “Expert” tab that data is being converted from M5 to M10.

setting up non-standard timeframes

Figure 5. Entry in the “Expert "" tab.

5. Search for the ""Open offline"" tab from the ""File"" menu.

6. a window Opens with a list of currency pairs with various timeframes (standard and non-standard). You need to find a non-standard timeframe M10.

the choice of non-standard timeframe

 

7. After a pair has been found, click ""Open"". We get a pair with a non-standard M10 timeframe.

non-standard M10 timeframe

Figure 8. non-Standard M10 timeframe.

Now you know how to set up non-standard timeframes in MT4.

What do you need to know when working with non-standard timeframes in MT4?
Having set a non-standard timeframe in MT4 using the PeriodConverter script, the trader must learn some points. When working with a non-standard timeframe, you should never close the chart. Everything is quite simple, the script does not work – a non-standard timeframe does not work. If you restart the terminal with the script installed on the chart, the procedure for installing it must be repeated again. If you need to create non-standard timeframes for several pairs, you need to follow the procedure for installing the script with each currency pair separately.

Conclusion
Above, we demonstrated how to create custom timeframes in MT4. What is the advantage of a non-standard timeframe? The fact is that a non-standard timeframe can show a more accurate signal for entering the Forex market. That is, it is a kind of filter for opening a position. Setting a non-standard timeframe is easy and doesn't take much time.

As it was written above, non-standard timings set using the PeriodConverter script in MT4 will work as long as the terminal is running. It is quite acceptable to load several non-standard timings for different currency pairs in order to increase the number of signals to enter the market."

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