custom daily candlesticks
Info
The custom daily candlesticks is a Indicator for MetaTrader 5 that the indicator allows customizing the day beginning hour, the vertical shift of candlesticks, as well as colors of bullish, bearish and doji candlesticks. it has five input parameters:hour of begin day- day beginning hour;candles vertical shift- vertical shift for the candlesticks;color of bullish candle- select color for bullish candlesticks;color of bearish candle- select color for bearish candlesticks;color of doji candle- select color for doji candlesticks.
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 custom daily candlesticks
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
the indicator allows customizing the day beginning hour, the vertical shift of candlesticks, as well as colors of bullish, bearish and doji 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: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora Trading Journal Panel MT5: Professional Daily Trading Performance Analyzer - similar indicator with strong performance on MetaTrader 5.
the indicator allows customizing the day beginning hour, the vertical shift of candlesticks, as well as colors of bullish, bearish and doji candlesticks.it has five input parameters:
hour of begin day
- day beginning hour;
candles vertical shift
- vertical shift for the candlesticks;
color of bullish candle
- select color for bullish candlesticks;
color of bearish candle
- select color for bearish candlesticks;
color of doji candle
- select color for doji candlesticks.
fig. 1. default settings.
fig. 2. the day beginning hour is set to 12.
figure 3. the day beginning hour is set to 23.
figure 4. shift is set to 0.
You may also like: Quantora Daily Profit Loss Monitor MT5 - Professional Trading Performance Dashboard - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
#property indicator_buffers 5
#property indicator_plots 1
#property indicator_label1 "candle"
#property indicator_type1 draw_color_candles
#property indicator_color1 clrmediumseagreen,clrorange,clrgray.......
⚠ 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.