candle mid point
Info
The candle mid point is a Indicator for MetaTrader 5 that indicator candle's middle point displays the middle point of a candle. 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 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 candle's middle point displays the middle point of a candle.
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 Pip Value Calculator MT5: Professional Pip and Point Value Calculator for MetaTrader 5 - similar indicator with strong performance on MetaTrader 5.
indicator candle's middle point displays the middle point of a candle.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
fig.1. middle point for = candle
fig. 2. middle point for = body
You may also like: Quantora Candle Countdown MT5: Professional Real-Time Candle Timer - 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.