How to edit MT5 indicator?

You can edit an MT5 indicator by adjusting its parameters and visual properties directly within the MetaTrader 5 platform, or for more extensive modifications, by editing its source code using the MQL5 Editor.

Adjusting Indicator Settings and Properties

This is the most common way to "edit" an indicator, allowing you to fine-tune its behavior and appearance without needing to write any code. MetaTrader 5 offers two straightforward methods to access these settings.

Method 1: Via the Indicators List

This method is ideal when you have multiple indicators on your chart or prefer to manage them centrally.

Right-click anywhere within the chart window.
From the context menu that appears, select "Indicators list". This will open a new window displaying all indicators currently attached to that specific chart.
In the "Indicators list" window, choose the desired indicator from the displayed list.
Click the "Edit" button. This action will open the comprehensive properties window for the selected indicator.

Method 2: Directly from the Indicator on the Chart

This is often the quickest and most intuitive way if the indicator is already visible on your chart.

Right-click directly on the indicator you wish to edit. This could be on its line, histogram, or even its name if it appears in a sub-window.
From the context menu, select the "Properties..." command. This will immediately open the indicator's properties window.

Understanding Indicator Properties

Once you access the indicator's properties window (using either method), you'll typically find several tabs designed to help you customize various aspects of the indicator:

Inputs: This tab allows you to change the numerical parameters that define the indicator's calculations. These might include period lengths (e.g., for Moving Averages or RSI), deviation values, or the specific price type used for calculations (e.g., Close, Open, High).
- Example: You could change the period of a Moving Average from 14 to 20 to make it smoother or more responsive.
Colors: Here, you can modify the visual appearance of the indicator's graphical elements, such as its lines, bars, or dots. You can change their color, style (e.g., solid, dashed), and thickness.
- Example: Changing an RSI line from blue to red, or adjusting the thickness of a MACD histogram bar.
Levels: Many oscillators and other indicators use horizontal levels (e.g., 30 and 70 for RSI, 0 for MACD) to denote overbought/oversold conditions or zero lines. This tab lets you add, remove, or modify these levels, including their values, styles, and colors.
Visualization: This tab controls when and where the indicator is displayed. You can choose to show it on all timeframes or restrict its visibility to specific ones (e.g., only on H1 and D1 charts). You can also set whether it appears in the "Data Window."

Advanced Editing: Modifying Indicator Source Code

For more profound changes, such as altering the indicator's core calculation logic, adding entirely new features, or fixing bugs, you'll need to edit its source code. This advanced process requires knowledge of the MQL5 programming language.

Steps to Edit Source Code:

Open the MQL5 Editor: In your MT5 platform, navigate to the "Tools" menu and select "MetaEditor," or simply press the F4 key on your keyboard.
Locate the Indicator File: In the MetaEditor's Navigator window (usually on the left), navigate to the Indicators folder. Expand any relevant sub-folders (e.g., Examples, Custom) to find your desired indicator.
Open the Source Code: Double-click on the .mq5 file of the indicator you wish to edit. The code will open in the main editor window.
Make Modifications: Carefully edit the MQL5 code according to your requirements.
Compile the Indicator: After making your changes, click the "Compile" button in the toolbar (or press F7). This process translates your code into an executable .ex5 file that MT5 can understand and use. Any errors or warnings during compilation will be displayed in the "Errors" tab at the bottom of the editor.
Apply to Chart: Once the compilation is successful, you can drag and drop the modified indicator onto your chart. If the indicator was already on the chart, you might need to refresh the chart or remove and re-add the indicator to see the changes.

Important Considerations for Code Editing:

Backup: Always create a backup copy of the original .mq5 file before making any changes to its source code. This prevents accidental data loss or irreversible errors.
Renaming: If you modify a standard MT5 indicator, it's highly recommended to save your altered version with a new, distinct name. This prevents conflicts and ensures you don't accidentally overwrite the original indicator provided by MetaQuotes.
MQL5 Knowledge: A solid understanding of the MQL5 programming language is crucial for effective, error-free, and secure code modification.

Quick Comparison of Editing Methods

Editing Method	Purpose	Access Method	Skill Level Required
Adjusting Properties/Settings	Change visual appearance, input parameters, levels	Right-click chart -> "Indicators list" -> "Edit" OR Right-click indicator on chart -> "Properties..."	Beginner
Modifying Source Code	Alter calculation logic, add new features, fix bugs	Open MQL5 Editor (F4), navigate to `.mq5` file, edit code, compile	Advanced (MQL5)

By understanding these two distinct methods, you can effectively customize MT5 indicators to suit your specific trading preferences, analytical needs, and strategic objectives.