Candle Color Changer
Info
The Candle Color Changer is a Indicator for MetaTrader 5 that this indicator enables you to modify the color of the candles on your chart. You can set a specific time frame during which the candle colors will change.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Candle Color Changer
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
This indicator enables you to modify the color of the candles on your chart.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Candle Strength Analyzer MT5: Price Action and Wick Analysis - another powerful indicator for MetaTrader 5 traders.
This indicator enables you to modify the color of the candles on your chart.Also recommended: Quantora Candle Countdown MT5: Professional Real-Time Candle Timer - similar indicator with strong performance on MetaTrader 5.
You can set a specific time frame during which the candle colors will change.
Input Parameters:
- start_day: Start day of the week
- start_hour: Start hour of the day
- start_minute: Start minute of the hour
- end_day: End day of the week
- end_hour: End hour of the day
- end_minute: End minute of the hour
- color_bar_up_0: Default color for up candles
- color_bar_down_0: Default color for down candles
- color_bar_up_1: Color for up candles during the specified time
- color_bar_down_1: Color for down candles during the specified time
You may also like: Candle Timer for MT4/MT5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property indicator_chart_window //indicator in chart window
#property version "1.0"
#property indicator_buffers 6
#property indicator_label1 "open;high;low;close"
#property indicator_plots 1 //number of graphic plots
#property indicator_type1 draw_color_candles //drawing style color candles
#property indicator_width1 3 //width of the graphic plot
input int start_day=4; // starting day for show
input int start_hour=6; // starting hour of day .......
⚠ 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.