Candlestick Size and Direction Histogram
Info
The Candlestick Size and Direction Histogram is a Indicator for MetaTrader 5 that this indicator displays the size of each candlestick (calculated as high - low) and its direction, represented by a colored histogram. The histogram visually communicates the price range and movement of each trading period.
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 Candlestick Size and Direction Histogram
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
This indicator displays the size of each candlestick (calculated as High - Low) and its direction, represented by a colored histogram.
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: Risk Lot Calculator: Calculate Lot Size Based on Risk and Stop Loss - another powerful indicator for MetaTrader 5 traders.
This indicator displays the size of each candlestick (calculated as High - Low) and its direction, represented by a colored histogram.Also recommended: Heikin Ashi Candlesticks - similar indicator with strong performance on MetaTrader 5.
The histogram visually communicates the price range and movement of each trading period.Candlestick Size and Direction Indicator
This tool provides a clear visualization of candlestick body size and direction, enhancing market analysis by highlighting significant price movements.
The indicator uses a histogram format, where each bar represents a single candlestick.
The color of the histogram bar indicates the direction of the candlestick (e.g., green for bullish, red for bearish).
The height of the histogram bar corresponds to the absolute difference between the High and Low prices of that candlestick, representing its total range.
This can help traders quickly identify periods of high volatility or strong directional trends.
The indicator is designed for MetaTrader 5 and is compatible with all trading instruments.
Developed in 2026.
You may also like: Gold Position Size Calculator (XAUUSD) for 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.