Binary tradng based on candle colors
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 Binary tradng based on candle colors
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
This indicator serves as a demonstration that one can send trade signals utilizing MT5 global variables.
It is up to the reader to implement the "real trading" part, for testing purpose you might want to check the following blog (Binomo Trading using MT5 Terminal)Please note, for best result, one shall use the 5 seconds chart of any asset.Candle colors are counted and majority colors will determine the trade to place, CALL or PUT, which can be reversed in the indicator settings. In the reverse case, the minority colors will determine the trade to place.
One can verify the global variables used by pressing F3 to display MT5 Global Variables as shown in the following figure.
Good luck and enjoy.
