How to edit an indicator in MetaTrader

Modified on Wed, 21 Aug at 6:57 PM

While operating in financial markets, when analyzing an instrument, we may want to rely on a technical indicator, so in this article, we will explain how to set and edit the parameters in an indicator.

How can I set up an indicator?

To configure a specific indicator, first of all, add this indicator to your chart. To do this, follow these simple steps:

Open MetaTrader,
In the "Navigator" window, search for the expert advisor or indicator you need and add it to the corresponding chart. To complete this action, you have three options:
- Double click,
- Click and drag to the chart,
- Click the right mouse button and choose the “add to chart” option.

After following the previous steps, a configuration window will appear in our MetaTrader platform, where we can set the desired parameters for this indicator. In our example, we will use the Moving Average indicator.

Note: The parameters established for this Moving Average are only for example purposes and should not be taken as a recommendation.

As we can see in the previous image, in the Moving Average indicator, we can set the following parameters:

Period,
Shift,
Method,
Apply to,
Style (colour, line style, and thickness).

In our example, we have established an exponential period equal to 40, with closing data coloured red. Once these parameters have been established, click on “Accept,” and this Moving Average will be shown below in your chart.

How can I modify the parameters of an already established indicator?

If we have established an indicator on our chart but want to modify any of these parameters, follow the next steps:

Right-click and choose the “Indicator List” option (Ctrl+I),

Select the indicator that you want to modify and click on “Properties”,

Next, we will see again the first configuration window of this indicator. In our example, we will modify this Moving Average with these new parameters: Period (200), Method (Simple), and colour (black),