One of the first things that traders do after downloading MetaTrader 4 is to change the color scheme. That’s because the default color scheme is, well, terrible, and you need something that is easier on your eyes!
MT4 color schemes are very easy to change and save, so let’s get into it.
How to change color scheme on MT4
- On any open chart window, right click and select “Properties”
- Open the colors tab
- Here, you’ll be able to choose whatever colors suit you
- Remember to make the Background and Foreground two contrasting colors, or the numbers won’t show up on the chart axis
- Change colors for Bar Up and Bar Down, which are the outlines of the candles
- Change colors for Bull Candle and Bear Candle
- Press OK
- Right click anywhere on the chart and go to “Templates=>Save Template”
- Save the template with any file name of your choice
MT4 Templates are not just colors
I usually like to save the template before adding anything to the chart, because templates contain more than just colors:
- Chart scroll
- Zoom level
- Expert advisors and settings
- Lines and drawings
- Indicators and settings
Default MT4 color scheme
MT4’s default color scheme is green on black. In this scheme, the outlines of all candles will be green. Bull candles will be black with a green outline, and bear candles will be white with a green outline.
I personally HATE this color scheme and prefer using one of the three schemes below 🙂
Best color schemes for MT4
Red and green on black
In this color scheme, the background is black. Bull candles and their outlines are green, and bear candles and their outlines are red.
Red and green on white
In this color scheme, the background is white. Bull candles and their outlines are green, and bear candles and their outlines are red.
Black and white on white
In this color scheme, the background is white. Bull candles are white with a black outline, and bear candles are black with black outlines.
MT4 is one of the most customizable trading platforms out there, bested perhaps only by TradingView. These color schemes are the ones that are most common, but you can conceivably make them in any way you want!