candle color mid point
Info
The candle color mid point is a Indicator for MetaTrader 5 that indicator colored middle point of candle, like indicator , displays the middle point of the candle, but it colors the middle point of each candle depending on the candle type, bullish or bearish. it has two adjustable parameters:middle point for- display the middle point forcandle - candlesbody - candle bodydots type- the candle middle point dots type:smallest dot- the smallest dotsmall dot- cmall dotbig dot- big dotsmall square- small squarebig square- big squaresmall diamond- small diamondbig diamond- big diamondcross - crosscalculations:for the middle point of a candle:point = (high + low) / 2.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use candle color mid point
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.
What this tool does
indicator colored middle point of candle, like indicator , displays the middle point of the candle, but it colors the middle point of each candle depending on the candle type, bullish or bearish.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Candle Strength Analyzer MT5: Price Action and Wick Analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora Candle Countdown MT5: Professional Real-Time Candle Timer - similar indicator with strong performance on MetaTrader 5.
indicator colored middle point of candle, like indicator , displays the middle point of the candle, but it colors the middle point of each candle depending on the candle type, bullish or bearish.it has two adjustable parameters:
middle point for
- display the middle point for
candle
- candles
body
- candle body
dots type
- the candle middle point dots type:
smallest dot
- the smallest dot
small dot
- cmall dot
big dot
- big dot
small square
- small square
big square
- big square
small diamond
- small diamond
big diamond
- big diamond
cross
- cross
calculations:
for the middle point of a candle:point = (high + low) / 2.0
for the middle point of the candle body:point = (open + close) / 2.0 if the candle is bullish, its middle point is blue. if it is bearish, its middle point is red
fig.1. middle point for = candle
fig. 2. middle point for = body
You may also like: Candle Timer for MT4/MT5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.