Directed Movement Candle Indicator
Info
The Directed Movement Candle Indicator is a Indicator for MetaTrader 5 that the indicator is implemented as a sequence of candlesticks. These candlesticks are generated by applying the directed_movement indicator algorithm to the relevant price time series.
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 Directed Movement Candle Indicator
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 is implemented as a sequence of 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: i movement - another powerful indicator for MetaTrader 5 traders.
The indicator is implemented as a sequence of candlesticks. These candlesticks are generated by applying the directed_movement indicator algorithm to the relevant price time series. This approach can offer more informative insights for analysis in many situations.Also recommended: average directional movement index wilder (adx wilder) - similar indicator with strong performance on MetaTrader 5.
This indicator requires the compiled indicator file "directed_movement.ex5". Please place this file in the <terminal_data_folder>\mql5\indicators directory.
The indicator utilizes classes from the "smoothalgorithms.mqh" library, which must be copied to the <terminal_data_folder>\mql5\include directory. The usage of these classes has been comprehensively detailed in the provided article.
Fig. 1. The directed_movement_candle indicator
You may also like: average directional movement index (adx) - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 5
#property indicator_plots 1
#property indicator_type1 draw_color_candles
#property indicator_color1 clrdeeppink,clrgray,clrdodgerblue
#property indicator_label1 "directed_movement_candle open;high;low;close".......
⚠ 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.