Understanding the DRAW_COLOR_BARS Indicator for MetaTrader 5

Mike 2011.05.03 04:14 45 0 0
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If you're looking to enhance your trading experience with MetaTrader 5, the DRAW_COLOR_BARS indicator might just be the tool you need. This nifty indicator draws bars for a specified instrument right in a separate window, making it easier to visualize market movements.

One of the cool features of this indicator is how the bar colors change randomly every N ticks. You can easily adjust the N parameter manually through the Inputs tab in the indicator properties dialog box. Initially, this indicator is set up with 8 different colors for the plot using the #property compiler directive. But here’s the kicker: in the OnCalculate() function, the color is picked at random from a selection of 14 colors stored in the colors[] array. Talk about keeping things interesting!

For more insights, be sure to check out The Drawing Styles in MQL5 article, which dives deeper into the various ways you can visualize your trading data.

DRAW_COLOR_BARS

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