ColorXMFI_Histogram – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • The smoothed Money Flow Index oscillator with the color indication of overbought/oversold level breakouts and of the histogram direction. Depending on the value of the indicator’s input parameter:

    input ENUM_COLOR_MODE Mode=ENUM_LEVELS; //Breakout indication method

    There are two variants of histogram coloring:

    1. Breakout of overbought/oversold levels;
    2. Change of direction.

    For better histogram readability, the indicator is performed in zero relative symmetric form, and its values vary from -50 to +50.

    The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was described in detail in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

    Fig1. The ColorXMFI_Histogram indicator

    Fig1. The ColorXMFI_Histogram indicator

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window