color day
Info
The color day is a Indicator for MetaTrader 5 that the color day indicator colors the bullish and bearish days. if the daily close is greater than open, colors in blue (customizable in settings).
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 color day
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
the color day indicator colors the bullish and bearish days.
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: macd histogram indicator (multi-color) - another powerful indicator for MetaTrader 5 traders.
the color day indicator colors the bullish and bearish days.
Also recommended: macd multi-color histogram with signal line - similar indicator with strong performance on MetaTrader 5.
if the daily close is greater than open, colors in blue (customizable in settings).if the daily close is less than open, colors in red (customizable in settings).
copy the open, close prices and opening time for the specified number of days
days
:
to the corresponding arrays:
before installing the indicator to the chart, set the dimension of arrays:
assign the values of array cells to variables and determine the daily closing time
time1
:
using the
putrect()
function:
color the day depending on where the price went:
iterate over all days specified in the
days
parameter in a cycle:
when deleting the indicator from the chart using the
deleteobjects()
function:
remove the created objects from the chart:
settings:
fig. 1. the indicator on the chart
tips:
the
color day
indicator — visual trading assistant.
You may also like: color parabolic 2 - excellent alternative for indicator users on MetaTrader 5.
Source Code
/.......
⚠ 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.