Direct answer: what “redeem a deleted indicator” usually means
In forex charting, “redeeming a deleted indicator” typically means getting back an indicator you previously used but that is no longer available on your chart. Deletion can be caused by removing the indicator file, clearing platform data, switching devices, or losing access to the indicator’s source.
Because different chart platforms handle indicators differently, there is no single universal redemption step. The closest dependable approach is to restore the indicator from the same place it came from, or rebuild it using the original parameters and indicator logic.
How it works in practice (mechanics)
1) Identify what is missing
Check whether the indicator is:
- Missing in the platform’s indicator list (the indicator is not available at all), or
- Available by name but missing its settings (the indicator loads, but the configuration changed), or
- Loaded on the chart, but not producing outputs (the data feed or inputs are mismatched).
These cases determine the recovery path.
2) Restore from a previous local state
If your platform supports chart templates, workspaces, or saved indicator configurations, restoring that saved state can bring back the indicator and its parameters. The key idea is to recover settings, not just the indicator name.
Verification step: after restoring, compare the indicator’s visible parameters (for example, lookback period, smoothing, applied price, or momentum calculation options) with what you used before.
3) Reinstall or re-add the indicator
If the indicator is truly missing, a common method is to reinstall it from the original, known source (such as the place you downloaded it from, or the platform’s indicator library where it was originally provided). If you only remember the indicator concept but not the exact version, you may end up with a different implementation.
Verification step: confirm the indicator’s formula description (if shown by the platform) and confirm that the output scale and behavior match your prior expectations.
4) Recreate the indicator settings (especially for Momentum Indicators)
For Momentum Indicators, “recreating” usually means re-entering the same input choices that affect the momentum calculation and display. Typical inputs vary by platform, but commonly include:
- Momentum lookback length (how many bars are used)
- Smoothing or moving-average type (if the indicator uses it)
- Which price series is applied (close, typical price, etc.)
- Any threshold or normalization settings
If you do not have the original parameter values, you can still recreate an indicator of the same type, but it may not match the previous indicator exactly.
You may find it helpful to review a general explanation of a Momentum Indicator so you can map your remembered parameters to the correct input fields. For example, a page about a “momentum indicator” can help you interpret the role of standard inputs.
Optional internal check: if your deleted indicator is actually a Momentum Indicator variant, you can also compare your remembered setup against a related momentum approach such as accumulation or Elliott Wave style tools, because these are often discussed as different momentum-related indicator styles.
Example checks to avoid mismatches
- Same indicator type, different parameters: after re-adding, confirm the lookback length and smoothing choices match.
- Same parameters, different data scope: confirm the chart timeframe and applied symbol are the same as before.
- Same chart, missing outputs: confirm the indicator has the required data (enough bars for the lookback period).
- Version drift: if your platform offers indicator versions or updated definitions, verify which one you restored.
Limitations and risks (what you cannot reliably “redeem”)
- There is no guaranteed method to recover a deleted indicator if you lack the original indicator file, source, or saved configuration.