Lewmar Wired Hand Held Chain Counter Remote

Sorry my reply doesn’t answer your question, but here is how I do it. This only works if your windlass pays out line in reverse, rather than free fall.

Time how fast your windlass pays out line - Probably 1 foot per second. Then just count as you lower the anchor. No need for color code or chain counter. And this method works in the dark too.

For example, your in 8 feet of water, plus 4 feet to your bow pulpit. Start loweing anchor and count to 60, for a 5:1 scope.