3-Candle Chart
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use 3-Candle Chart
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
I am not aware of other similar type of chart. However, please let me know if I am infringing on someone else work.
I wanted to find out if there was useful information to be displayed from the London open to the New York Close.
It is made of 3 candles per trading day:
- London Open to New York Open
- New York Open to London Close (Power hours)
- London Close to New York Close
I also added a "funny" number to offset the chart itself. See below. Any suggestions welcome.
Recommendations:
Works only on 1 hour timeframe
Timeoffset variable is the offset (in hours) between GMT and your MT4 Broker's time
SBnumber variable is a funny number used to offset the whole group of candlesticks. It gives sometime surprising results.
Displays better on a line chart
