Color Fill MA - MetaTrader 4 Script | Forex Indicators Download - MT4/MT5 Resources

Color Fill - MA1 + MA2: also works on MT5

Color fills (color histograms) enhance the visual perception of price action and aid in decision making for trade entry, continuation, exit and re-entry of trades during trend continuation.

The indicator draws

Color fill options

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

Check the foreground chart - Chart Properties (press F8)

Parameters and Transactions

MA1 and MA2 price tags

The accuracy of the price label can be determined by drawing a horizontal line on the chart and setting the line parameter - value to the price indicated on the MA1 or MA2 label. The horizontal line should be aligned exactly with the end of MA1 or MA2, depending on the selected label.

Color Fill - MA1 + MA2 Custom Moving Average Indicator Built on Core Code Copyright © 2004, MetaQuotes Software Corp.

The original indicator code does not contain the price input variable, the closing price is the default price. Added price input variables, including value parameters: Close, Open, High, Low and Median.

The accuracy of the price encoding can be checked by placing a standard MT4 Moving Average (Insert → Indicators → Trend → Moving Average) on the chart as a test component and comparing the overlay of MA1 and MA2 with the test component. The parameter table below includes all 20 test combinations.

For example, set the test component to SMA → Off, and set MA1 to SMA → Off. Both moving averages should cover exactly the entire length of the MA line. The Home and End keyboard buttons can be used to position the start and end points of the MA line (make sure AutoScroll is inactive). Complete the forms for MA1 and MA2. The author's checks cover March 9, 2006, to July 9, 2013.

The input offset variables can be checked in a similar manner by comparing the MA1 and MA2 offset parameters to the test component.

Inputs and parameters

Attachment download

📎 color_fill_ma.mq4 (24.94 KB)

Source: MQL5 #10967