day time
Info
The day time is a Indicator for MetaTrader 5 that the indicator adds signal arrows on the specified day of the week and time:if the close price of a candlestick preceding the given one is lower than the open price of the specified day of the week, then an up arrow is drawn at the given candlestick; if the close price of a candlestick preceding the given one is higher than the open price of the specified day of the week, then a down arrow is drawn at the given candlestick; the indicator allows selecting the day of the week and the hour of that day to check, so it has two configurable parameters:day of week- the day of the week to check;hour of day- the hour of the day. note that arrows may not be placed in some cases: for example, if you use the h4 chart and select a candlestick with the time which is not a multiple of 4 (3, 11, 7 etc.
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 day time
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 adds signal arrows on the specified day of the week and time:if the close price of a candlestick preceding the given one is lower than the open price of the specified day of the week, then an up arrow is drawn at the given candlestick; if the close price of a candlestick preceding the given one is higher than the open price of the specified day of the week, then a down arrow is drawn at the given candlestick; the indicator allows selecting the day of the week and the hour of that day to check, so it has two configurable parameters:day of week- the day of the week to check;hour of day- the hour of the day.
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 Multi-Timeframe Trend Dashboard MT5 - Professional EMA Trend Analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora Multi-Timeframe RSI Dashboard MT5 - Professional RSI Momentum Analysis - similar indicator with strong performance on MetaTrader 5.
the indicator adds signal arrows on the specified day of the week and time:if the close price of a candlestick preceding the given one is lower than the open price of the specified day of the week, then an up arrow is drawn at the given candlestick;
if the close price of a candlestick preceding the given one is higher than the open price of the specified day of the week, then a down arrow is drawn at the given candlestick;
the indicator allows selecting the day of the week and the hour of that day to check, so it has two configurable parameters:
day of week
- the day of the week to check;
hour of day
- the hour of the day. note that arrows may not be placed in some cases: for example, if you use the h4 chart and select a candlestick with the time which is not a multiple of 4 (3, 11, 7 etc.), the indicator will not find such candlesticks on the h4 chart, so will not draw arrows.
fig.1 h4, monday, 8 hours
fig.2 h4, monday, 16 hours
You may also like: Quantora Multi-Timeframe MACD Dashboard MT5 - Professional Momentum and Trend Analysis - 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.