Color Fill improves the visual perception of price behavior and helps you make decisions about entering a position, staying in the market, exiting and re-opening when the trend continues.
This indicator draws:
- The Tenkan Sen and Kijun Sen lines of the Ichimuko Kinko Hyo indicator.
- Two corresponding price tags.
- The color fill options described below.
The default settings can be changed and saved as a separate. set file for later use. To do this, use the “Save” and “Load” buttons on the “Settings” tab. The user should find out their own preferences in the settings.
The Tenkan Sen and Kijun Sen periods are not the classic 9 and 26, but they can be changed to use the new values as described above.
The Tenkan Sen and Kijun Sen have periods of 50 and 100, and are generally optimized for the M30-H4. Customize the Tenkan Sen and Kijun Sen periods to suit your needs. For better visual perception, you can increase the thickness of the lines.
Attention: Tenkan Sen and Kijun Sen are one indicator. A non-programmer user can check this by running the Ichimoku Kinko Hyo indicator (MetaTrader 5 → Insert → Indicators →Trend → Ichimoku Kink Hyo) on the H4 chart, and then setting the periods 26 and 27 for Tenkan Sen and Kijun Sen, respectively. Tenkan Sen and Kinjun Sen will be slightly separated. Now change the period to 27. Now both lines are exactly the same. I draw the attention of users to this in order to avoid misunderstandings when using this indicator.
- The placemarks are located in the lower right corner, but they can be moved to any point on the chart.
- If you don’t need price tags, you can hide them.
- If the Tenkan Sen or Kijun Sen line is hidden, the corresponding price tag will also be hidden.
The accuracy of price labels can be determined by drawing a horizontal line on the chart and setting parameters for it that correspond to the prices specified in the labels for TS and KS Label. The horizontal line will exactly coincide with the end of the Tenkan Sen or Kijun Sen line.
For optimal visualization, use the white background of the graph. Go to the “Colors” tab in the chart settings, which are opened by pressing the F8 key. The color settings are listed below, and you can change them if necessary:
- The background is white.
- The text is black.
- The grid is a LightGray.
- The up bar is black.
- The down bar is black.
- Being a candle is white.
- Bearish candle – LightSlateGray.
- The line is a LightSlateGray.
- Volumes – Teal.
- The Bid line is LightSlateGray.
- The Ask – LightSlateGray line.
- The last price line is Green.
- Stop levels – Red.
- Select Fill – fill type, and Price – Tenkan Sen.
- Fill Long Color-fill for long operations, AliceBlue.
- Fill Short Color-fill for short operations, LavenderBlush.
- Tenkan Sen Period – the period of the Tenkan Sen, 50.
- Period Kijun Sen – period Kijun Sen, 100.
- Color Tenkan Sen – color Tenkan Sen, DodgerBlue.
- Color Kijun Sen – color Kijun Sen, Aqua.
- Width Tenkan Sen – the thickness of Tenkan Sen, 1.
- Width Kijun Sen – the thickness of Kijun Sen, 1.
- Style Tenkan Sen – style Tenkan Sen, Solid.
- Style Kijun Sen – style Kijun Sen, Solid.
- Show Tenkan Sen – show Tenkan Sen, true.
- Show Kijun Sen – show Kijun Sen, true.
- Label Corner – the corner of the label binding, the lower-right corner of the graph.
- Label Left or Right-indent of the label on the right or left, 20.
- Label Up or Down-label indent at the top or bottom, 20.
- Label Size – the size of the label, 12.
- Show Labels – show labels, true.
Enable the “Top Chart” option in the chart settings (press F8).