Color Fill - Tenkan + Kijun
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Color Fill - Tenkan + Kijun
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.
Description & Settings
Color Fill - Tenkan + Kijun:
Color Fill (Color Histogram) enhances visual perception of price action assisting with decisions of trade entry, continuation, exit and trade re-entry on trend continuation.
This indicator draws
The Tenkan Sen and Kijun Sen components of the Ichimoku Kinko Hyo Indicator.
Two associated Price Labels.
The below Color Fill options.
Note
- The Color Fill is not part of the Ichimoku Kinko Hyo Indicator and should not be confused with the Ichimoku Cloud.
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
Image:
Color Fill - 3 of 1, 2, 3 or 4.
Check Chart on foreground - Chart Properties (press F8)
Parameters and Trading
All inputs, parameters and options can be changed and will save automatically.
User should investigate personal preferences.
The Tenkan Sen and Kijun Sen default periods are 50 and 100
.
Adjust Tenkan Sen and Kijun Sen periods as required.
Line thickness can be increased for better visual definition.
Lower timeframes can be enhanced with Session Open V-Line Indicator.
Use of 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 the same indicator. The non programmer can prove this by placing the Ichimoku Kinko Hyo Indicator (MT4 → Iinsert → Indicators → Oscillatirs → Ichimoku Kink Hyo) on a H4 chart and setting Tenkan Sen and Kijun Sen to periods 26 and 27 respectively. The Tenkan Sen and Kinjun Sen are slightly apart. Now change both to period 27. Both now overlay each other exactly. This is bought to the user's attention in order to avoid miss understanding should the user discover this while using the present Indicator.
Tenkan Sen and Kijun Sen Price Labels
The Labels are positioned at the lower right corner but can be re-positioned to any position on the chart.
The Price Labels can be hidden if not required.
If the Tenkan Sen or Kijun Sen is hidden the associated Price Label will also be hidden.
Accuracy of Price Labels can be determined by drawing a horizontal line on the chart and setting the line Parameters - 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 Label chosen.
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;
