The Draw Color Trend Signal Line indicator for Metatrader 5 draws a colored signal line on the Forex trading chart.
The following indicator inputs can be modified:
- Number of ticks to change properties
- Same color interval (in bars)
Feel free to experiment with the indicator’s different settings and input values.
The indicator does not give any buy or sell trade recommendations.
Free Download:
Download the “draw_color_line.mq5” indicator for MT5
Indicator Example Chart (EUR/USD H4)
The example chart below shows the Draw Color Trend Signal Line indicator in action on the MT5 trading platform.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 5 (MT5)
Trading Instruments: Works for Forex, Stocks, Commodities, Equity Indices, Precious Metals, Energies and Shares
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Market information
Does the indicator repaint? No.
Download Now:
Download the “draw_color_line.mq5” indicator for Metatrader 5
How to install this indicator on Metatrader 5?
Open the Metatrader 5 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL5”
Now double click on “Indicators”
Paste the indicator in the Indicators folder.
Finally restart the MT5 platform and attach the indicator to any chart.
How to remove the indicator?
Right click with your mouse on the chart that you have the indicator attached to.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse on the chart that you have the indicator attached to.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.