Change the colour of candles and wick
This tool for MetaTrader 5 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 Change the colour of candles and wick
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
Draw the wicks (thin lines): Draw a vertical line from the lowest price to the highest price of each candle (this is called a "wick"). Draw the body of the candle: Draw a rectangle from the opening price to the closing price, using a different colour if the candle is bullish or bearish. Colour customisation: You can easily change the colours used for bullish and bearish candles and their wicks.In the code you use, for example: The bearish candles have a maroon body (clrMaroon). The wicks of the bearish candles are light violet (clrOrchid). What is it useful for? This indicator is useful if you want to: Have a unique and clear visual style on your charts. Differentiate bullish candles more easily from bearish ones. Analyse the price behaviour in a more visual way.
