1. Beginner's Guide To MultiCharts Trading Platform: Introduction
  2. Beginner's Guide To MultiCharts Trading Platform: Software Installation
  3. Beginner's Guide To MultiCharts Trading Platform: MultiCharts Application Window
  4. Beginner's Guide To MultiCharts Trading Platform: Charts And Settings
  5. Beginner's Guide To MultiCharts Trading Platform: Trading
  6. Beginner's Guide To MultiCharts Trading Platform: Depth Of Market
  7. Beginner's Guide To MultiCharts Trading Platform: Advanced Features
  8. Beginner's Guide To MultiCharts Trading Platform: Conclusion

MultiCharts supports many different data providers, and more are added with each new release of the platform. Traders can use one, two or several data sources at the same time. Each data vendor provides different historical data, so a trader should choose the one that best suits his or her needs. A list of current data sources can be found on the MultiCharts website under the "Features" tab. Data sources are added automatically to MultiCharts. Traders, however, need to activate the desired data source(s). To activate a data source:

  • Open a QuoteManager Window by clicking the New QuoteManager Window icon on the Main Toolbar, or by selecting File in the main menu > New > New QuoteManager Window.

  • Click Tools menu > Data Sources, or click the Data Sources icon on the toolbar.
Figure 15: Data sources through MultiCharts QuoteManager Window

  • Select the data source using the keyboard or mouse and click "Activate."

  • The data source is now marked in green and the Settings, Name and Abbreviation parameters can be edited. Highlight the desired data source, and click on "Edit" and "Settings."
Opening a New Chart
A Chart (or Window) is created for a financial instrument, designated by each instrument's unique symbol. To create a new chart:

  • Enter the symbol parameters into the Command Line Toolbar,

  • Click on the New Chart Window icon in the Main Toolbar or

  • Click on File in the main menu > New > New Chart Window.
If using a method other than the Command Line Toolbar, once the New Chart Window appears:

  • Select the Instrument tab,

  • Select a data feed from the Data Source drop-down list box,

  • Select a symbol from the list of available symbols in the All Symbols tab, or click "Add" to add an instrument,

  • Double-click the symbol, or click "OK" to create a chart with the default settings or

  • Depending on the data source, the trader may be prompted to enter a password to grant access to the particular data source.
Chart Properties
Traders can customize the background, appearance, Y-Price Scale, X-Time Scale, Status Line and Volume Profile of any Window. To format a Window:

  • Left-click on the chart to make it active,

  • Right-click and select "Format Window" or

  • Select Format in the main menu > Window.
The Format Window appears:

Figure 16: Customize properties by opening Format Window.

  • Select the desired settings

  • To use these settings on future charts, check the "Use as Default" box at the bottom of the "Format Window" window

  • Click "OK" to close the window

  • The price chart will now reflect the changes
Adding Studies
Traders can add indicators, signals and add-ons to any price chart by selecting Insert from the main menu > Study.

Figure 17: Adding Studies from main menu.

The Insert Study window appears. Select the appropriate tab (Indicator, Signals or Add-Ons) and highlight the desired study. To choose more than one study, hold the Ctrl button on the keyboard while highlighting each desired study. Click "OK" to close the window. The studies will now appear on the active price chart.

Traders can make a template of studies to be applied to other charts. Once the price chart is set up, right-click on the chart and select "Format Study Templates," or select Format in the main menu > Study Templates.

Figure 18: Format MultiCharts Study Templates

Click "Save" and enter a Name in the "Save Template" box. Click "OK" and then "Apply." The template is now saved and can be applied to other charts by right-clicking and selecting "Format Study Templates" and checking the box next to the appropriate template.

Instruments, Studies, Drawings and Signals can be formatted by right-clicking > Format Indicators, or by selecting Format in the main menu > Study. Select the appropriate tab, highlight the object and click "Format." Make any desired changes and click "OK" to close the window.

Figure 19: MultiCharts Format Objects

SEE: Using Technical Indicators To Develop Trading Strategies

Drawing Tools
The Drawing Toolbar provides traders with a wide variety of tools for placing objects such as trendlines, channels and fans on price charts. To use any of the drawing tools, click the desired tool icon then either click and release, or click, drag and release to place the object in the desired location.

Figure 20: Drawing Tools toolbar for placing various objects.

To remove an object, place the cursor over the object and right-click > Remove Drawing. To remove all objects, right-click on the chart > Remove All Drawings.

Beginner's Guide To MultiCharts Trading Platform: Trading

Related Articles
  1. Insights

    MSFT to Start Charging Users for Windows Upgrade (MSFT, AAPL)

    Microsoft will start charging for Windows 10 upgrades in July.
  2. Investing

    What Does Window Dressing Mean?

    Window dressing is the actions taken close to the end of a reporting period by managers to try and make their financial numbers look better.
  3. Trading

    Using Trading Indicators Effectively

    Select multiple indicators, avoid information overload and optimize indicators to effectively use technical analysis tools.
  4. Insights

    Microsoft Backs Away From Windows 10 Goal (MSFT)

    Microsoft backs off from its goal of reaching 1 billion devices to run on Windows 10 by the middle of 2018
  5. Investing

    Tips For Creating Profitable Stock Charts

    Find out how to create well-designed charts that will enhance your market analysis.
  6. Trading

    Forex Consolidation Trading - Trade The Calm, Profit From The Storm

    Capture quick profits with the powerful directional biases of these two patterns.
  7. Insights

    What to Expect at Microsoft Build Conference 2016 (MSFT)

    The Microsoft Build conference offers the firm the chance to court developers and showcase its latest technology advancements. Here's what to expect this year.
  8. Small Business

    Can Microsoft Apps Compete With Android & Apple?

    Microsoft's answer to the smartphone crazy is the Windows Phone. The obvious problem with Windows Phones in an ever-connected world is the lack of quality apps available for the OS.
  9. Investing

    How To Legally Form A Hedge Fund

    Forming a hedge fund is a bit trickier than creating a corporation or private business. It’s expensive, as well.
  10. Investing

    3 High-Pressure Home Improvement Sales Tactics

    Vendors selling products related to the improvement of your home can be some of the most challenging salespeople to deal with.
Frequently Asked Questions
  1. Depreciation Can Shield Taxes, Bolster Cash Flow

    Depreciation can be used as a tax-deductible expense to reduce tax costs, bolstering cash flow
  2. What schools did Warren Buffett attend on his way to getting his science and economics degrees?

    Learn how Warren Buffett became so successful through his attendance at multiple prestigious schools and his real-world experiences.
  3. How many attempts at each CFA exam is a candidate permitted?

    The CFA Institute allows an individual an unlimited amount of attempts at each examination.Although you can attempt the examination ...
  4. What's the average salary of a market research analyst?

    Learn about average stock market analyst salaries in the U.S. and different factors that affect salaries and overall levels ...
Trading Center