Custom Symbols and Charts Based on Formulas in cTrader
Custom Symbols and Charts Based on Formulas in cTrader
16 Dec 2024, 20:19
Request: I would like to request the ability to create custom symbols and charts in cTrader based on user-defined formulas, similar to the functionality offered by platforms like MetaTrader 5 (MT5) and TradingView. This feature would use symbols already offered by the broker, allowing a user to create new customized symbols based on these already existing symbols.
An example would be a new custom symbol like USDEUR instead of EURUSD. Or A new custom symbol based on the simple formula “EURUSD + GBPUSD.”
Here's a link to a video demonstrating the feature as it is currently implemented in TradingView:
Why This is Needed:
Advanced Trading Strategies: Many traders rely on custom symbols—rather than just indicators—to track unique market conditions or trade multiple assets simultaneously. By allowing the creation of these symbols based on symbols already offered by the broker, cTrader would enable traders to build more sophisticated, personalized strategies.
More Flexibility for Traders: cTrader currently limits the ability to create custom symbols based on specific formulas. This can restrict traders from fully adapting the platform to their needs. With custom formulas, traders could create more dynamic, tailored charts and trading conditions.
Stay Competitive: Platforms like MT5 and TradingView have long offered this feature, and it has become a crucial part of advanced trading. To keep up and retain top-tier traders, cTrader needs to offer the same flexibility to create custom symbols and charts.
Innovation and Customization: Giving traders the power to design their own symbols and charts based on formulas would unlock a new level of customization, leading to more innovation and a better trading experience overall.
This feature would give traders the tools they need to trade more effectively, opening the door to new strategies and helping them achieve better results.