![Moving Averages, multi-timeframe [v03]](/images/180.webp)
![RSI multi-timeframe [v03]](/images/178.webp)
DR A W CO L O R LI N E
Info
The DR A W CO L O R LI N E is a Indicator for MetaTrader 5 that the indicator plots a line with different colors using the close price, the drawing style is used. Two indicator buffers are used: the first contains the closing price of the bar, the color indexes specified in the second indicator buffer.
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 DR A W CO L O R LI N E
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 indicator plots a line with different colors using the Close price, the drawing style is used.
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: Price Channel - another powerful indicator for MetaTrader 5 traders.
The indicator plots a line with different colors using the Close price, the drawing style is used.
Two indicator buffers are used: the first contains the closing price of the bar, the color indexes specified in the second indicator buffer. The colors of lines, the width and line style changed randomly after N=5 ticks.
Also recommended: Moving Averages, multi-timeframe [v03] - similar indicator with strong performance on MetaTrader 5.
The initial properties of the plot1 graphic plot are defined using the preprocessor directive, further these properties changed randomly (see function).See also .
You may also like: RSI multi-timeframe [v03] - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.