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MA Candles TWO Colors

The MA Candles Two Colors indicator for MT4 colors the candlesticks based on moving average crossover. This indicator is a great tool for traders who want to quickly identify the direction of the trend and make informed trading decisions.

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Description

The MA Candles Two Colors indicator for MT4 is a beginner-friendly trading tool that displays colored candlesticks based on the crossover signals of the moving average. It helps traders visualize when the moving average signals a bullish or bearish trend.

The indicator changes the color of the candlesticks to blue or red, suggesting a bullish and bearish trend, respectively. In other words, it changes a candlestick’s color to blue when the moving averages crossover to the upside or red when the moving averages crossover to the downside.

Furthermore, the indicator maintains blue or red candlesticks as long as the price remains above or below the moving averages after a crossover, indicating a bullish or bearish trend. This helps simplify trend identification, especially for beginner traders.

Features of the MA Candles Two Colors Indicator for MT4

The indicator is a flexible multi-timeframe trading tool for identifying bullish and bearish trends across different time frames. It allows traders to set the moving average’s period type (e.g., EMA), and applied price for the trend analysis. Besides, it allows traders to determine the width of the candlesticks’ body and wick.

Benefits of Using the Indicator

  • Simplifies Trend Identification: The MA Candles indicator helps traders to identify the direction of the market trend at a glance, making it an ideal trading tool for beginners.
  • Reversal Signal: The visual display of colored candlesticks depicting bullish and bearish moves can help traders identify early trend reversal signals, especially when the price is at a support/resistance zone.

Indicator Settings Description

The indicator comes with the following customizable settings:

Candle MA Period: Determines the number of periods used to calculate the moving average.

Candle MA Shift: Determines the horizontal shift of the moving average on the chart.

Candle MA Method: Defines the type of moving average (e.g., EMA) used for analysis.

Candle Price: Determines the price type (e.g., closed) used for moving average calculation.

Candle_Shadow_Width: Defines the width of candlestick shadows (wicks).

Candle_Body_Width: Defines the width of candlestick bodies.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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