• Overview
  • Reviews (1)
  • Comments (4)
  • What's new

Color Candles Identify the Major Trend

5

The indicator includes two parts.

Part I: Color Candles Show the Major Trend

Color candles is to identify the market state by color candlesticks.

As shown in the screenshots, if the color is Aqua, the market is in a state when you should place long orders or exit short orders. If the color is Tomato, it is the time to place short orders or exit long orders.

If the color is changing, it is better to wait for its completion (until the current bar is closed).

Part II: Draw bands

The inner bands is defined as safe area, and the outer bands is for close orders.

Trading strategy as below:

  • if the color is Aqua, and price is in the inner bands ,place a long order , when price cross outer bands, it is time to close order.
  • if the color is Tomato, and price is in the inner bands,place a short order ,when price cross outer bands, it is time to close order.
Note: only entry market when price in the inner bands.this is very important.


Input Parameters

  • ShowColorCandle - true means indicator draw color candle.
  • AlertColorChange - true means there will be alert when the color change is finished.
  • EmailColorChange - true means there will be email when the color change is finished.
  • ShowBands - true means indicator draw the bands
  • AlertCrossOuterBands - true menns there will be alert when price cross the outer bands
  • AlertCrossOuttrBands - true means there will be email when price cross the outer bands.

Please note I do not claim that this is a perfect indicator.

Losses or wins depend on how you use it.

MT4 Version: https://www.mql5.com/en/market/product/10455


Reviews 1
Edgar Duttweiler
639
Edgar Duttweiler 2018.08.21 14:47 
 

For my strategy a great EA-indicator !!!!

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Note: This EA only works on Netting account. The MetaTrader 4 version Quick Panel Pro This Expert Advisor is a professional trading tool, which integrates a flexible risk control and one group of trading panel. Features Calculating lots is easy and fast ,when you move the StopLine, the calculation is processed at the same time. Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. EA can run on visual ch
FREE
Gamma Bands MT5
Ziheng Zhuang
5 (2)
Gamma Bands   This indcator shows the trend with the color histogram. It is simple and easy to use. Usage: If the histogram changed from the aqua to the fuchsia, which means the trend is up. If the histogram changed from the fuchsia to the aqua,which means the trend is down. Inputs: MaPeriods: the periods of moving average. f1: the multiplier of inner bands f2: the multiplier of outer bands
FREE
Slippage Monitor MT5
Ziheng Zhuang
5 (2)
This EA is designed to monitor the slippage of opening and closing orders, and save the records in csv file. It is useful to record the slippage and evaluate brokers. The record files are saved in the folder  MT5_Data_Folder\MQL5\Files.  Go to   "File " --> "Open Data Folder"   . Warning :   Do NOT open the files directly, otherwise it will affect the exectution of EA, just copy them to another folder and open them. Usage: Open a chart and load the EA on it, just need only one EA to run, it m
FREE
Slippage Monitor
Ziheng Zhuang
5 (2)
This EA is designed to monitor the slippage of opening and closing orders, and save the records in files. It is useful to record the slippage and evaluate brokers. The record files are saved in the folder  MT4_Data_Folder\MQL4\Files.  Go to "File " --> "Open Data Folder" . Warning : Do NOT open the files directly, otherwise it will affect the exectution of EA, just copy them to another folder and open them. Usage: Open a chart and load the EA on it, just need only one EA to run, it monitors a
FREE
Beta Bands
Ziheng Zhuang
4 (7)
This indicator shows main trend, entry zone and exit zone. This is a muti-timeframe indicator, so it is always repainting in the current period of the higher timeframe. Basic Principle Combines the algorithm of MACD and ATR to determine the trend direction and range. Features Colorful Histogram: it indicates the main trend, the tomato means the market is bearish,and the sky blue means the market is bullish. Inner Blue Bands: it is entry zone for entry market, the market is relatively safe fo
FREE
OrderManager Pro
Ziheng Zhuang
4.14 (7)
This Expert Advisor is designed to manage orders. It offers the following functions: Set a stop loss for an order having none. Set a take profit for an order having none. Close the last order if the total orders of a symbol are over the setting. Close the order if its lots are over the setting. Close the order if its profit in pips is over the setting. Close the order if its loss in pips is over the setting. Close the order if its profit in amount is over the setting. Close the order if its loss
FREE
Note: This EA only works on Hedging account. The MetaTrader 4 version Quick Panel This Panel is an Expert Advisor, which provides six groups of trading panel. Features Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. The EA can run on visual chart on the strategy tester, which provides an easy method to practice trading on history data. Show the average price on a yellow-background panel and draw th
FREE
Gamma Bands
Ziheng Zhuang
4 (1)
This indcator shows the trend with the color histogram. It is simple and easy to use. Usage: If the histogram changed from the aqua to the fuchsia, which means the trend is up. If the histogram changed from the fuchsia to the aqua,which means the trend is down. Inputs: MaPeriods: the periods of moving average. f1: the multiplier of inner bands f2: the multiplier of outer bands
FREE
Account Export
Ziheng Zhuang
5 (2)
This is a MetaTrader 4 script. It helps to export all trades into a CSV file as per Symbol and selected periods. Input Select Symbol: This is 2-option input. Select current symbol or all symbols to export its orders. Select Period: This is 7-option input. It includes Last Month, This Month, Last Week, This Week, Today, All History, and Date Specified. Specify Starting Date: Enter a date if you selected Date Specified in "Select Period" input. Specify Ending Date: Enter a date if you selected D
FREE
Note: This EA only works on Hedging account. The MetaTrader 4 version Quick Panel Pro This Expert Advisor is a professional trading tool, which integrates a flexible risk control and 6 groups of trading panel. Features Calculating lots is easy and fast, when you move the StopLine, the calculation is processed at the same time. Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. This EA does not support t
FREE
Quick Panel
Ziheng Zhuang
This panel is an Expert Advisor, which provides six groups of trading panel. MT5 Version: Quick Panel Hedging Features Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. The EA can run on visual chart on the strategy tester, which provides an easy method to practice trading on history data. Show the average price on a yellow-background panel and draw the lines of the avarage price. Click here Panel The
FREE
This Expert Advisor opens or closes orders when the price is crossing the specified trend line (or horizontal line). For example, you draw a trendline and name it "B1". When the price is crossing the trendline, the EA will open a buy order. The name "B1" is built-in EA, you cannot use other letters. Panel Green: change the panel Violet: change the line type (trend or horizontal) Del: delete lines X: close the panel Built-In Names The built-in names are used to open and close orders. All built-
50 USD
This Expert Advisor is a professional trading tool, which integrates a flexible risk control and six groups of trading panels. MT5 Version:  Quick Panel Pro Hedging Features Calculating lots is easy and fast: move the StopLine, the calculation is processed immediately Most trading operations can be quickly made by clicking the button on these panels. Changing panels is quick just by clicking the green button. The EA can run on the strategy tester, use this feature to do training or review your s
FREE
Account Summary
Ziheng Zhuang
5 (1)
This is a MetaTrader 4 script. It helps to summarize all trades into every symbol. Input Select Period: This is 7-option input. It includes Last Month, This Month, Last Week, This Week, Today, All History, and Date Specified. Specify Starting Date: Enter a date if you selected Date Specified in "Select Period" input. Specify Ending Date: Enter a date if you selected Date Specified in "Select Period" input. The summary is saved into a file in MQL4\Files folder. Also, there is pop-up window for
FREE
Account Summary MT5
Ziheng Zhuang
4.67 (3)
This is a MetaTrader 5 script. It helps to summarize all trades into every symbol. Input Select Period: This is 7-option input. It includes Last Month, This Month, Last Week, This Week, Today, All History, and Date Specified. Specify Starting Date: Enter a date if you selected Date Specified in "Select Period" input. Specify Ending Date: Enter a date if you selected Date Specified in "Select Period" input. The summary is saved into a file in MQL5\Files folder. MT4 Version:   https://www.mql5.c
FREE
The indicator includes two parts. Part I: Color Candles Show the Major Trend Color candles is to identify the market state by color candlesticks. As shown in the screenshots, if the color is Aqua, the market is in a state when you should place long orders or exit short orders. If the color is Tomato, it is the time to place short orders or exit long orders. If the color is changing, it is better to wait for its completion (until the current bar is closed). Part II: Draw bands The inner bands is
50 USD
This indicator shows the main trend on the current chart. Features This indicator includes two bands, one is the inner white bands, another is the outer blue bands. If the white dotted line crosses down the white solid line, this means that the trend has changed to be bearish. If the white dotted line crosses up the white solid line, this means that the trend has changed to be bullish. Once the crossing happened, it will not repaint. Settings ShowColorCandle: if 'true', it will show the colo
99 USD
This indicator shows the relative strength of 8 major currencies: USD, EUR, GBP, AUD, NZD, CAD, CHF and JPY. The strength value is normalized to the range 0-100: The value above 60 means strong. The value below 40 means weak. Note: This indicator does not show strength lines, it just shows the digital result on chart. Another version with strength lines: Currency Relative Strength Inputs BarsToCalculate - Number of bars to calculate strength. MaPeriodsToSmoothLines - Moving Average periods f
30 USD
This Expert Advisor is an One-click trading panel for multi pairs. Click OPEN button to open orders for the selected pairs. Click CLOSE button to close orders for the selected pairs. The lots of order is the number entered by users.The positive number is for buy order and the negative is for sell order. Click  CLOSE  button is to close the whole order ,instead of partial close.Close action has nothing to do with the number of lots. Set the input Magic to 0, the EA will help to close manual order
30 USD
Pair Power Matrix
Ziheng Zhuang
3.67 (3)
This indicator is designed to show the pair power of the major 28 paris with RSI,Stochostic,and CCI. The power value is sorted from the weak to the strong. Users can add another symbol, so it can calculate 28+1 symbols. My advice: https://www.mql5.com/en/blogs/post/729880 A free EA with Pair Power Matrix  ---  https://www.mql5.com/en/blogs/post/732894 Inputs: Forex Suffix -- the suffix of the major 28 forex symbols Additional Symbol Settings Additional Symbol(without suffix)  -- set the add
30 USD
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Edgar Duttweiler
639
Edgar Duttweiler 2018.08.21 14:47 
 

For my strategy a great EA-indicator !!!!

Reply to review
Version 4.20 2020.03.23
Nothing changed. Recompile with the latest compiler as request from MQL5 community.
This version will increase the performance.
Version 4.10 2016.10.18
The old v4.0 has a repaint bug,this repaint bug is also found in the MT4 indicator.
MT4 indicator has been modified, the MT5 indicator also need to be modified.
The new v 4.1 has no repaint bug.
Sorry for this trouble.
Version 4.0 2016.10.05
Add a bands to this indicator.
Now the new version 4.0 is the same as my MT4 indicator. https://www.mql5.com/en/market/product/10455
Thank you!
Version 3.0 2015.07.06
Added alert and email function