What is Forex MT4 & Change Line Color With MQL4?
Forex MetaTrader 4 (MT4) is a popular trading platform that is widely used in the forex market. This trading platform allows traders to have access to the markets in real-time through their PC or mobile device. It is also an excellent platform for automation as it offers a range of tools and features that can be used to create custom indicators and automated trading strategies, as well as to back-test them. MT4 also offers a scripting language called MQL4 which allows traders to change the color of the line on the chart with a few lines of code.
Why Should You Change Line Color In Forex?
Changing the line color on a chart is a useful tool for traders as it allows quick and easy identification of market conditions. Color changes can be used to denote a change in trend, support and resistance levels, entry and exit points, and other aspects of the market. As such, changing the line color can help make trading decisions quicker and easier. It can also help traders to visually distinguish between different timeframes, making it easier to interpret various indicators that may appear on the chart.
How To Change Line Color in MT4 With MQL4?
It is relatively easy to change the line color in MT4 using MQL4. All traders need to do is to click on the chart wanted and create the Graphical Object. To create the Graphical Object, the trader needs to click on the tab on which the horizontal line is drawn. The tab will be located on the left side of the toolbar on the MT4 platform. When the Graphical Object is created, the trader can then click on the object and select ‘Properties’ to open the ‘MQL4’ folder. From there, the trader can select ‘Indicator’ and then ‘Examples.’ This will open a wide range of indicators with which the line color on a chart can be changed.
It is important to note that the changes made to a chart will not be saved until the trader clicks ‘OK.’ Changes to the line color can only be made when the chart is visible and open. Thus, traders should ensure that the chart has been properly saved after making the desired changes.
In conclusion, changing a line’s color in MT4 is a relatively easy process with the help of MQL4. By following the above steps, traders are able to quickly and easily change the colors of their charts to suit their needs. This helps traders easily identify different trends and conditions without the need to analyse complex indicators and patterns. As such, changing the line’s color is an important tool for forex trading that should be mastered by beginners and experienced traders alike.
How to Change Line Colors in Metatrader
Forex traders use the Metatrader platform to carry out their trading activities. It has a host of features that make it the most popular software among the traders. One such feature is the ability to customize color of the line charts. This allows traders to accurately assess the price movements and make informed decisions. Here’s a guide to help you change the color of lines on your Metatrader program.
Step 1: Using the Chart Window
The first step to change the line colors on Metatrader is to open up the chart window. You can easily do this by clicking on the “Chart” icon at the top-left corner of the main Metatrader window. Once the chart window opens up, choose the currency pair whose line colors you want to change. Now you’re ready to start customizing the line color.
Step 2: Change Lines Colors in the Code
In order to change the line colors in the Metatrader platform, you will need to modify the source code. You can do this by bringing up the MetaQuotes language editor. This is the same language that Metatrader runs on. Press F4 on your keyboard or find “MetaQuotes Language Editor” in the main menu to start up and edit your code. Once you’re inside the MetaEditor, choose the desired colors for your lines and save them. You will now be able to see the changes in the chart window.
Step 3: Apply the Color Settings
The last step to complete the color change process is to apply the new color settings. To do this, open up the MT4 platform. Right-click on the “Market Watch” window (where the list of currency pairs is displayed). From the context menu, select “Symbols” and the currency pair that you have changed the line color for. In the popup box that appears, input the color code that you have saved earlier and hit the “OK” button. The changes should take effect immediately and you should be able to see the line colors that you’ve chosen for the currency pair.
Customizing line colors on the Metatrader platform may seem like a daunting task for a beginner trader. However, with the help of this guide, you should be able to make the changes easily and swiftly. Armed with the new custom line colors, you are now set to make informed decisions when trading in the forex market.
