Color Fill - MA1 + MA2 : Also Available for MT5
Color Fill (Color Histogram) enhances visual perception of price action assisting with decisions of trade entry, continuation, exit and trade re-entry on trend continuation.
This indicator draws
Color Fill options
Image: Color Fill - 3 of 1, 2, 3 or 4.
Check Chart on foreground - Chart Properties (press F8)
Parameters and Trading
MA1 and MA2 Price Labels
Accuracy of Price Labels can be determined by drawing a horizontal line on the chart and setting the line Parameters - Value to the price indicated on a MA1 or MA2 Label. The horizontal line should align precisely with the end of MA1 or MA2 depending on Label chosen.
Color Fill - MA1 + MA2 is built on the core code of Custom Moving Average Indicator Copyright © 2004, MetaQuotes Software Corp.
The original Indicator code does not include a Price Inputs Variable and Close is the default price. A Price Inputs Variable has been added and includes Value parameters: Close, Open, High, Low and Median.
Accuracy of Price coding can be checked by placing on chart a standard MT4 Moving Average (Insert → Indicators → Trend → Moving Average) to serve as a Test Component and comparing overlay of MA1 and MA2 against the Test Component. The below parameters table includes all 20 test combinations.
e.g. Set the Test Component to SMA → Close and MA1 to SMA → Close. Both moving Averages should overlay exactly for the full length of the MA line. Home and End keyboard buttons can be use to locate the start and end of the MA line (ensure that Auto Scroll is inactive). Complete the table for MA1 and MA2. The author's checks cover 2006-Mar-09 to 2013-Jul-09.>Median (H + L) / 2
|Type||Price 0||Price 1||Price 2||Price 3||Price 4|
|SMA||Close||Open||High||Low||Median (H + L) / 2|
|EMA||Close||Open||High||Low||Median (H + L) / 2|
|SMMA||Close||Open||High||Low||Median (H + L) / 2|
The Inputs Shift Variable can be checked in a similar manner by comparing MA1 and MA2 shift parameters against the Test Component.
Inputs and Parameters
Adds account information to chart: Profit, Balance, Equity, Free Margin, Margin and Margin Level %. On chart click hide/show account information. Show Profit only option.Open Position v3a - Updated for MT4 Build 600
Displays open position: Symbol + Lots + Points + Profit (Updated for MT4 Build 600)