Color Fill - Tenkan + Kijun - MetaTrader 4 Script - MT4/MT5 Resources

Color Fill – Tenkan + Kijun: also works on MT5

Color filling (color histogram) enhances the visual perception of price action and facilitates decision-making to enter, continue, exit and re-enter trades based on the trend.

The indicator draws

Color fill options below.

Color fill options

Image: Color Fill - 3 of 1, 2, 3 or 4.

Check the foreground chart - Chart Properties (press F8)

Parameters and Transactions

Notes: Tenkan Sen and Kijun Sen are the same indicator. Non-programmers can demonstrate this by placing the Ichimoku Kinko Hyo indicator (MT4 → Iinsert → Indicators on the H4 chart → Oscillators → Ichimoku Kink Hyo) and setting the Tenkan Sen and Kijun Sen to periods 26 and 27 respectively. Tenkan Sen and Kinjun Sen are slightly different. Now change both to period 27. Now the two completely overlap. This is something that buyers should pay attention to so as not to miss out on understanding what they will find when using the current indicator.

Tenkan Sen and Kijun Sen price tags

The accuracy of the price label can be determined on the chart by drawing a horizontal line on the price label and setting the line parameters - the price value indicated on the TS or KS label. The horizontal line should line up exactly with the end of the Tenkan Sen or Kijun Sen, depending on the selected label.

Inputs and parameters

Attachment download

📎 0_-_Color_Fill_-_Tenkan_x_Kijun_.mq4 (8.86 KB)

Source: MQL5 #10965