Color Fill Indicator for Tenkan-Sen and Kijun-Sen
Info
The Color Fill Indicator for Tenkan-Sen and Kijun-Sen is a Indicator for MetaTrader 4 that color fill - tenkan + kijun available for mt4 and mt5. The Color Fill indicator (also known as a color histogram) enhances the visual perception of price action, assisting with decisions for trade entry, continuation, exit, and re-entry on trend continuation.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Color Fill Indicator for Tenkan-Sen and Kijun-Sen
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Color Fill - Tenkan + Kijun Available for MT4 and MT5.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: fibo color indicator - another powerful indicator for MetaTrader 4 traders.
Color Fill - Tenkan + Kijun Available for MT4 and MT5. The Color Fill indicator (also known as a color histogram) enhances the visual perception of price action, assisting with decisions for trade entry, continuation, exit, and re-entry on trend continuation. This indicator draws the Tenkan-Sen and Kijun-Sen components of the Ichimoku Kinko Hyo indicator.Also recommended: color osma indicator - similar indicator with strong performance on MetaTrader 4.
It also includes two associated price labels.
The indicator offers several color fill options: Color fill between price and Tenkan-Sen
Color fill between price and Kijun-Sen
Color fill between Tenkan-Sen and Kijun-Sen
No fill
The color fill is not a part of the Ichimoku Kinko Hyo indicator and should not be confused with the Ichimoku Cloud. Image: Color fill option selected (1, 2, 3, or 4). To view chart properties, press F8.
Parameters and Trading
All inputs, parameters, and options can be changed and will save automatically. Users should investigate personal preferences.
The default periods for the Tenkan-Sen and Kijun-Sen are 50 and 100, respectively. Adjust these periods as required.
Line thickness can be increased for better visual definition.
Lower timeframes can be enhanced with the Session Open V-Line indicator.
The use of the Color Fill - Tenkan + Kijun as part of a trading system or trading tool is subject to user discretion and innovation.
Note: The Tenkan-Sen and Kijun-Sen are fundamentally the same indicator. A non-programmer can verify this by placing the Ichimoku Kinko Hyo indicator on an H4 chart and setting the Tenkan-Sen and Kijun-Sen to periods 26 and 27 respectively. The Tenkan-Sen and Kijun-Sen will appear slightly apart. Now, change both to period 27. They will overlay each other exactly. This information is provided to avoid misunderstanding should the user discover this while using the present indicator.
Tenkan-Sen and Kijun-Sen Price Labels
The labels are initially positioned in the lower right corner but can be repositioned to any location on the chart. The price labels can also be hidden if not required. If the Tenkan-Sen or Kijun-Sen is hidden, its associated price label will also be hidden.
The accuracy of the price labels can be confirmed by drawing a horizontal line on the chart and setting the line's value to the price indicated on a TS or KS label. The horizontal line should align precisely with the end of the Tenkan-Sen or Kijun-Sen, depending on the chosen label.
Inputs and Parameters:
color_fill_1_2_3_or_4 - 3
tenkan_sen_period - 50
kijun_sen_period - 100
ts_label_color - indicator_color1
ks_label_color - indicator_color2
label_bold - true
label_size - 12
label_corner - 3
label_left_right - 10
label_up_down - 10
show_tenkan_sen - true
show_kijun_sen - true
show_labels - true
You may also like: ls m a in color indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 dodgerblue
#property indicator_color2 red
#property indicator_color3 cornflowerblue
#property indicator_style3 style_dot
#property indicator_color4 hotpink
#property indicator_style4 style_dot.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.