BitmapLabelObject doesn't look transparent on my panel (Working on mql4)

 

I am using BitmapLabelObject from mql4, to put a bmp on my panel. Though, the image has transparent background, it looks like a boxed image on the panel having white background. Also tried having an background color of the bmp as my panel color, Still it has white background. How can I fix it?

(I also tried CCanvas from mql5 ut the image is not displayed in that case).

Please Help... struggling since 2 days

 
Namrathaa Malu:

I am using BitmapLabelObject from mql4, to put a bmp on my panel. Though, the image has transparent background, it looks like a boxed image on the panel having white background. Also tried having an background color of the bmp as my panel color, Still it has white background. How can I fix it?

(I also tried CCanvas from mql5 ut the image is not displayed in that case).

Please Help... struggling since 2 days

Was the image a png initially ? 

Reason: