GCI Trading provides MT4 metatrader 4 platform for Nifty Futures Realtime charts. Also you could find 10 Indian CFD’s with realtime charts in GCI trading MT4 platform.
6)State Bank Of India
Professional traders and even students of stock markets could make use of this free realtime facility to gain more knowledge on trading strategies with indian market with a highly sophisticated trading platform like metatrader 4. Other than Nifty you can also get Forex, World Indices, US Stocks and Dollar Denominated Commodities live charts at free of cost.
Chart Setup Procedure
1)Download and Intall the GCT Trading Software
2)When launching the program for the first time, you will see a window with the registration form; after you have filled it in, you will automatically get a demo account.
3)Now Right Click on the Market Watch
5)To get Indian CFD’s go to CFD Shares IN and select one of your favorite Nifty stocks among the list. Nifty future will be found under Indexes
6)Click on the Tab SHOW
7)Now the Corresponding Ticker will be available in the Market Watch
8)To get the chart just right click on the Ticker and Select Chart Window
10)Now Charts are live and you can change the Periodicity of the chart and change it for the required time frame.
Note : There will be a small variation with the spot price and GCI MT4 price because GCI quotes the latest value along with Spread margin as GCI charge brokerage in in terms of Spread Margin. So GCI Price = Latest Price + Spread Margin. Usually there will be a difference of 4 of 5 points between them. So while placing a order with your broker you will need to be aware of this difference in nifty rate and MT4 rate.
How to Plot Any Timeframe in Metatrader
Some strategies work better in a time frame which is not provided by default in MT4. Period converter.mq4 will serve that purpose.
Step to Plot 3 min timeframe
1)Download the indicator (Period_Converter_OPT.mq4) and unzip it. Now copy paste this mq4 file into your metatrader directory\MQL4\indicators (GCI MT4\MQL4\Indicators). The path will be like this. C:\Program Files\GCI MT4\MQL4\Indicators. It will show up under “Indicators” in your Navigator box.
2) If you want 3 min timeframe chart , for example, open a normal M1 chart, and apply the Period_Converter_OPT indicator to it (drag/drop it into your chart). In the indicator’s properties box, choose the desired PeriodMultiplier (e.g. 3). By default, it is 2 there. You would need to change it to 3. IMPORTANT: In the “Common” tab, check the “Allow DLL inputs” box. Also, keep the UpdateInterval “0″ to allow the updates to be in real-time.
3)On the main MT4 platform, go to File>Open Offline and your new chart will be listed, so simply choose it (e.g. Nse_Nifty, M3). This will bring up the new chart. Any indicators you apply to this new chart (e.g. MAs, Stochs, RSI, etc.) will be based on the custom time-frame.
4)IMPORTANT: You must keep the original chart (onto which you had originally applied the Period_Converter_Opt.mq4 indicator in Step 2 above) always open if you want the new non-standard time-frame chart to automatically update with current ticks. If you close that chart or remove the indicator from it, the custom chart will not update.
That’s basically it. All multiples will work. So, if you want H12, for example, use PeriodMultiplier=12 on an H1 chart, keeping that H1 chart open if you want the new chart to be continuously updated. (Remember to always check “Allow DLL inputs”, too.)
Update: NPA Trader has shared another period converter. You can also use this. It can be downloaded from this link. Click here
Disclaimer: This article is taken from www.marketcalls.in. I have just made necessary changes in it. I thank Rajandran R from marketcalls.in.
My name is Uday Dave. I am a full-time day trader, blogger and day trading educator. I mainly day trade Nifty, Bank Nifty, stocks and stock options and in the evening if I get time I trade MCX Crude Oil, Nickel and Silver using a 3-minute candlestick chart with Decision Point Trading System and price action trading methods. My only aim is to capture small moves, i.e. 20 to 25 points in Nifty and around 50 points in Bank Nifty daily.
I started this blog in year 2012 to record my trades, observations, experiences and to share them with other aspiring traders. I hope with all your support I will be able to continue to maintain this blog and improve further.