Watermark Indicator

In this article, we explore the Watermark indicator, a tool that enhances your trading charts with customizable, dynamic text overlays. Learn how to utilize its features to display real-time data and set alerts that adjust the watermark's appearance based on market conditions. The Watermark indicator adds a highly configurable watermark to your trading charts. 

As well as static text, such as the chart symbol and timeframe, you can use a variety of variables which make the text in the watermark update automatically. For example, you can configure the watermark to show the current spread on the chart's market or the profitability of your open trades. 

You can also configure the indicator with an alert condition, which causes the color of the text to change. For example, you can make the watermark turn red if the chart's bid price reaches a target, or if the margin usage on your account exceeds a particular level. 

How to Install a Watermark Indicator? 

To download and install the Pro Trading Tools, please follow these steps:  

1. Log in to Alpari profile > Hub > Pro Trading Tools 

2. Download FX Blue or Trading Central for your Platform (Meta Trader 4 or Meta Trader 5) 

3. Run the downloaded FX Blue and Trading Central files and apply them to your chosen MetaTrader Platform when prompted. 

4. Relaunch the MetaTrader platform. You’ll find your FX Blue* and Trading Central tools in the ‘Navigator panel under ‘Indicators’ and/or ‘Expert Advisors’. 

Note: FX Blue tools will appear in MetaTrader labeled as Alpari or Figaro app suite. 

Using the Watermark indicator 

Adding the indicator to a chart 

You add the indicator to a chart in the usual MT4/5 way, either by dragging it from the Navigator onto a chart, or by double-clicking on it in the Navigator. You can also use standard MT4/5 features such as adding the indicator to your list of Favorites, or assigning a Hotkey to it. 

You can then control the indicator's display and behaviour using the settings on its Inputs tab. 

Watermark text and variables 

The watermark can display either a single line of text, or two separate lines (header and sub-header). If you only want a single line of text, then you simply clear the setting for the sub-header text. 

You can use any mixture of fixed text and variables in the settings for the watermark. The default settings for the header and sub-header are {SYMBOL} and {PERIOD}. These variables cause the watermark to display the name of the chart symbol and the chart's timeframe. You can combine fixed text and variables. For example, setting the sub-header to Spread: {SPREAD} will cause it to display text such as Spread: 2.0