Setting up 3 screens in the MT4 platform

Trading according to the well-known strategy of the American trader of Soviet origin, Alexander Elder, involves the simultaneous use of 3 charts with different time periods of the same asset.

According to the strategy developer, working with multiple timeframes allows you to effectively filter false signals for opening trading positions.

For a comfortable visual perception of charts, it is recommended to configure the platform in such a way that all 3 timeframes are displayed in one terminal window.

However, many novice traders have difficulty setting up charts, although there are many options for how to do this simply and quickly.

How to add three charts for one currency?

 

After launching the trading platform, you should click on the button shown in the screenshot. In some terminals, it may have a different appearance and be located in a different location, this button is called “Mosaic arrangement of chart windows”:
After this, all currently open charts will be displayed in the terminal window at once. It is important to close all windows that do not display the pricing dynamics of the desired instrument.

For example, if the EUR/USD pair is being analyzed, then the charts of other assets should be closed.

Next, you will need to open 2 more charts of the desired currency pair by selecting EUR/USD in the “Market Watch” window and right-clicking, then select the chart window from the submenu.

After the graphs appear, you should adjust their size by setting the following parameters:

• Timeframe;
• Display type – Japanese candlesticks;
• Transfer to the chart the indicators needed for analytical work.

The result should look something like this:

Please note that for comfortable work, traders recommend displaying charts in ascending time period from left to right.

The logic of such a filter is obvious: entry into the market is carried out only if the indicator signal is confirmed on all 3 timeframes.

Important! Using Alexander Elder's 3-screen method, it is possible to significantly improve trading results even when working with chart or candlestick patterns.

To expand the graph to fill the entire screen, just click the corresponding button.

Experienced traders use A. Elder's 3-screen method when using several trading systems comprehensively.

In addition, this arrangement of charts makes it possible to analyze several financial instruments at once. This is especially true when opening medium- and long-term trading positions based on fundamental analysis .

The 3-screen method also allows you to evaluate the market reaction to the publication of economic news. An alternative could be to use three monitors or three simultaneously running trading terminals, but this is a more complex solution to the problem.

Three screen strategy - http://time-forex.com/strategy/strategiya-tri-ekrana-eldera step-by-step description with recommendations

The three screen indicator - http://time-forex.com/indikators/tri-ekrana allows you to do everything automatically, the best assistant in this strategy.