Candle Move
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Candle Move
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.
Description & Settings
Key Features:
Dual Display:
Automatically calculates and shows price changes in both
pips
(below the candle) and
percentage
(above the candle).
Two Measurement Modes:
Close-to-Close (default):
Compares the current candle's close price to the previous candle's close to measure inter-candle volatility.
Close-to-Open:
Compares the close and open prices of the same candle to measure its body size.
Flexible Customization:
Easily change colors for gains/losses and set a minimum pip threshold ( PipsLimit ) to filter out insignificant movements.
Performance Optimized:
Limit the number of historical bars to process ( MaxBars ) to ensure the indicator runs smoothly.
Input Parameters:
CloseToClose : Set to true to compare with the previous candle, or false to measure the current candle.
PipsLimit : Only displays information if the candle moves more than this number of pips.
DisplayLossColor : Color for price drops.
DisplayGainColor : Color for price gains.
MaxBars : The maximum number of past bars the indicator will calculate.
