Kijun Sen Candles Two Colors – indicator MetaTrader 4

Kijun Sen Candles Two Colors: Also available for MT5

This Indicator draws different colored candles above and below a Kijun Sen (KS) line.

1. Open a new chart.
   
2. Change the chart price graphic to Line Chart – Press (Alt + 3) or locate ‘Charts’ on top menu and select ‘Line Chart’. Make sure that ‘Bar Chart’ or ‘Candlesticks’ is not accidentally selected.
   
3. Open the Chart Properties window – press (F8) or right click anywhere on the chart and select ‘Properties’.
4. Select the Colors tab.
5. Select ‘Line Chart:’, now select the ‘▼’ and change color to ‘None‘. The chart should now have no graphical price displayed and is referred to as the blank chart.
   
6. A template of the blank chart can be made for further use with other currency pairs or instruments.
7. Attach Indicator Color Candles cross Kijun Sen to the blank chart.

Candle Accuracy: Although the standard chart price graphic is hidden it is not disabled and Open, High, Low and Close prices are available in MT4 Data Window (press Ctrl+D or View → Data Window). Accuracy of the Indicators Open, High, Low and Close can be checked against Open, High, Low and Close in MT4 Data Window. When cross-referencing the cursor point must be on the relevant colored candle:

Interpretation of the the Data Windows:

1. The hidden candle Open: 1318.6
   
2. The hidden candle High: 1321.1
3. The hidden candle Low: 1317.3
   
4. The hidden candle Close: 1319.8

The indicator candle H, L, O and C are listed in Columns R up, R dn, B up and B dn (Red up candle, Red down, Blue uo candle, Blue down candle).

The hidden candle open is less than the close so the candle is a up candle. The indicator Red up candle in column 1 corresponds to the hidden up candle.

1. R up L: 1317.3
2. B up H: 1321.1
3. R up O: 1318.6
4. R up C: 1319.8
   

• Candle_Kijun_Sen – 35;
• Candle_Shadow_Width – 1;
• Candle_Body_Width – 3;