Candle Amplitude
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 Amplitude
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
Candle Amplitude oscillator displays the amplitude of candles in two modes:
From High to Low
From Open to Close
If the current candle's selected amplitude exceeds the previous candle's one, the oscillator line is
green
.
If the current candle's selected amplitude is lower than the previous candle's one, the oscillator line is
red
.
There is also a signal line - the average value of the candles amplitude for a selected period.
The indicator has two input parameters:
Calculation mode
High/Low
- by High and Low prices
Open/Close
- by Open and Close prices
Signal period
- signal line period
Fig. 1. Candle Amplitude, High/Low mode
Fig. 2. Candle Amplitude, Open/Close mode
