Color XA T R
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 Color XA T R
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
Martingeil
Smoothed ATR, recalculated as price chart points.
It uses color to show whether the trend strengthens or weakens. The red color corresponds to the trend strengthening, the yellow color corresponds to the trend weakening.
Indicator input parameters:
You can change averaging algorithms out of ten possible options in the indicator:
- simple moving average;
- exponential moving average;
- smoothed moving average;
- linear weighted moving average;
- adaptive JMA smoothing;
- ultralinear smoothing;
- parabolic smoothing;
- Tillson's multiple exponential smoothing;
- smoothing using the algorithm developed by Tushar Chande;
- smoothing using Perry Kaufman's algorithm.
It should be noted that Phase parameters for different smoothing algorithms have completely different meaning. For JMA, it is an external Phase variable that varies from -100 to +100. For T3, it is a smoothing coefficient multiplied by 100 for better visualization. For VIDYA, it is a CMO oscillator period. And for AMA, it is a slow EMA period. These parameters do not affect the smoothing in other algorithms. For AMA, the fast EMA period is a fixed value and is equal to 2 by default. The powering coefficient for AMA is also fixed at 2.
The indicator uses the SmoothAlgorithms.mqh library classes (to be copied to the terminal_data_directory\MQL5\Include). The use of the classes was thoroughly described in the article .
Fig.1 The ColorXATR Indicator
This indicator was first implemented in MQL4 and published in 26.04.2011.
