i-one third
Info
The i-one third is a Indicator for MetaTrader 5 that rickdthe i-onethird indicator draws candlesticks that correspond to the bullish and bearish patterns (in the style of heiken ashi). the difference between high and low of a candlestick is divided into 3 parts.
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 i-one third
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
rickdthe i-onethird indicator draws candlesticks that correspond to the bullish and bearish patterns (in the style of heiken ashi).
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: background candles i-one third ht f - another powerful indicator for MetaTrader 5 traders.
rickd
the i-onethird indicator draws candlesticks that correspond to the bullish and bearish patterns (in the style of heiken ashi).
Also recommended: i4 golden lion trend - similar indicator with strong performance on MetaTrader 5.
the difference between high and low of a candlestick is divided into 3 parts. the indicator determines the pattern by the way, which one third of the candlestick contains opening, and which one contains closing.this indicator was first implemented in mql4 and published in on 07.06.2007.
figure 1. the rickd indicator
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.