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No, the only thing u can do is set the color of the indicator to trasparent, this will hide it, but is unseful, if it is not in the chart panel, cos the panel ramains there.
I do this with a lot of my indicators - not actually toggling the calculations on and off, but assigning a display toggle to some Ctrl-key combination. (For example, I have 10 keys assigned to various parts of Gomi's VolumeLadder.)
So yes, it's possible, you just need to modify the indicator slightly to handle key events.
Perhaps you should consider the method used for strategies.
When an indicator is called by a strategy, and it is inactive, the indicator does not plot.
Maybe connecting that function to a menu item or button?
Just my 2c.
I think Trader.Jon posted a link that is supposed to do this:
IN A webinar,i saw they were showing some buttons we can use with NT7,,,Strategy on and off add in.By this in news time or choppy time or in any condition,one can turn Strategy on or off instead opening it and clicking @ true or false.Not a bad idia if …
It would be easy for NT developpers to add an option (such as AutoScale or CalcOnBarClose) to switch the plot of the indicator on and off.
Such an option can also be hardcoded for each indicator on the chart, just need to add one property.
Toggling indicators on and off after selecting them: Selecting and toggling off works, but how do you get them back on the chart, as you can't select them anymore? You would need a different short cut for each indicator. Do not think that this is feasible.
Interesting. But then you would need to recode each of your indicators, so that it comes with a toggle button. Maybe @Big Mike could create a download category Ninjatrader 7 Toggle Indicators, LOL.