The Rapid Forex Symbol Changer indicator for Metatrader 4 enables traders to quickly change the desired currency pair or any other symbol on the activity chart.
The indicator pops up in the main MT4 chart window as a dashboard that contains all the market watch symbols.
Just click on the symbol you want to load, and the accompanying chart will load instantly.
The desired time frame can also be changed directly from the dashboard.
Free Download
Download the “-U-TURN-1.1.ex4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Rapid Symbol Changer mt4 indicator in action.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Symbol changer
Does the indicator repaint? No.
Intraday Strategy: Rapid Forex Symbol Changer + XMaster Formula (MT4)
This intraday strategy combines the Rapid Forex Symbol Changer Indicator and the XMaster Formula Indicator to allow traders to switch between currency pairs quickly while identifying high-probability intraday trades.
The Rapid Forex Symbol Changer displays a dashboard to select pairs directly on the chart, saving time for active intraday traders.
The XMaster Formula Indicator generates yellow up arrows for buy signals and yellow down arrows for sell signals.
This strategy is ideal for 5-minute to 15-minute charts.
Buy Entry Rules
- Use the Rapid Forex Symbol Changer dashboard to select a currency pair showing clear volatility and volume.
- Wait for a yellow up arrow from the XMaster Formula Indicator, signaling a buy.
- Enter a buy trade at the close of the candle where the signal appears.
- Set the stop loss just below the most recent swing low or a nearby support level.
- Set the take profit at a 1:1.5 reward-to-risk ratio, or exit if a yellow down arrow appears.
Sell Entry Rules
- Use the Rapid Forex Symbol Changer dashboard to select a currency pair with clear downward movement.
- Wait for a yellow down arrow from the XMaster Formula Indicator, signaling a sell.
- Enter a sell trade at the close of the candle where the signal appears.
- Set the stop loss just above the most recent swing high or a nearby resistance level.
- Set the take profit at a 1:1.5 reward-to-risk ratio, or exit if a yellow up arrow appears.
Advantages
- Quickly switch between multiple currency pairs using the dashboard for efficient intraday trading.
- Clear buy and sell signals reduce decision-making time.
- Works well on multiple intraday timeframes (5-min, 15-min).
- Improves trading efficiency and reduces the need to open multiple charts manually.
- Can be used on major, minor, and exotic currency pairs for diversified trading.
Drawbacks
- Requires constant monitoring for intraday trading.
- High spreads or slippage can reduce profitability, especially on short timeframes.
- Overtrading is possible if switching pairs too frequently without filtering signals.
- Performance can vary depending on currency pairs and market conditions.
Case Study 1
On the EUR/USD 5-minute chart, a yellow up arrow from the XMaster Formula Indicator appeared.
Using the Rapid Forex Symbol Changer, the trader quickly switched to this pair and entered a buy trade at 1.1850, with a stop loss at 1.1840 and take profit at 1.1865.
The trade reached the take profit within 12 minutes, yielding a 15-pip gain.
Case Study 2
On the GBP/JPY 15-minute chart, a yellow down arrow from the XMaster Formula Indicator appeared.
Using the dashboard, the trader entered a sell trade at 150.30, with a stop loss at 150.50 and a take profit at 149.80.
The trade reached the take profit in 20 minutes, capturing a 50-pip gain.
Strategy Tips
- Focus on high-liquidity sessions like London and New York overlaps for reliable signals.
- Check multiple pairs quickly using the Rapid Forex Symbol Changer dashboard to spot the best trading opportunities.
- Use additional filters like trend direction or support/resistance levels to reduce false signals.
- Consider using a trailing stop to maximize profit during strong intraday trends.
