Candle Range Meta Trader indicator
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. 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 Candle Range Meta Trader indicator
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
ShowBodySize
(default = false) — if true, a candle's body size will also be shown.
HavePipettes
(default = false) — if true, the indicator will assume that the currency pair's quote contains pipettes and will show the pip ranges accordingly.
TrueRange
(default = false) — if true, the indicator will calculate true range (including the gap part) instead of the normal range.
font_color
(default = clrLightGray) — the color of the candle range indicator.
font_size
(default = 10) — the size of the candle range indicator.
font_face
(default = "Verdana") — the font of the candle range indicator.
corner
(default = CORNER_LEFT_UPPER) — the location for the candle range indicator on the chart.
distance_x
(default = 3) — the horizontal distance from the corner to the indicator.
distance_y
(default = 12) — the vertical distance from the corner to the indicator.
DrawTextAsBackground
(default = false) — if true, the text label with the candle range value will be drawn as background. It can be useful if you want to prevent the indicator from obscuring the chart.
ObjectPrefix
(default = "CR-") — the prefix for chart objects for compatibility with other indicators.
