Close Rectangle to Bar
Info
The Close Rectangle to Bar is a Indicator for MetaTrader 5 that an indicator utility for closing (reducing the right side of the length) rectangles, trendlines, or lines with arrows to some bars/candlesticks. Using this utility, you can perform the action in two clicks instead of multiple steps:1.
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 Close Rectangle to Bar
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
An indicator utility for closing (reducing the right side of the length) rectangles, trendlines, or lines with arrows to some bars/candlesticks.
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: Previous Day High, Low, and Close Indicator - another powerful indicator for MetaTrader 5 traders.
An indicator utility for closing (reducing the right side of the length) rectangles, trendlines, or lines with arrows to some bars/candlesticks.Also recommended: candle close timer for mt5 - similar indicator with strong performance on MetaTrader 5.
Using this utility, you can perform the action in two clicks instead of multiple steps:
1. Click on the button in the control panel.
2. Click on the object in the chart, at the location to which it must be reduced.
This utility works with objects located in the main chart and separate windows.
Inputs:
- i_prefix_add_to_object_name: Add prefix "cl" to the name of the object to be closed.
- i_prefix_add_to_object_text: Add prefix "cl" to the description of the object to be closed.
- i_prefix_add_to_object_tooltip: Add prefix "cl" to the tooltip of the object to be closed.
- i_font_size: Font size in the control panel.
- i_y_distance: Position the control panel along the y-axis in pixels (referencing from the chart top).
- i_x_distance: Position the control panel along the x-axis in pixels (referencing from the right chart edge).
Abbreviations in the utility name:
- tl: Trend line
- al: Arrowed line
Together with rectangle, these are the types of graphic objects in the terminal with two anchoring points by time and price.
You may also like: iClose HTF - 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.