i-OneThird Indicator
Info
The i-OneThird Indicator is a Indicator for MetaTrader 5 that the i-onethird indicator displays candlesticks that represent bullish and bearish patterns in a style similar to heiken ashi. The indicator divides the difference between the high and low of a candlestick into three equal 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-OneThird 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 i-OneThird indicator displays candlesticks that represent bullish and bearish patterns in a style similar to 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: Stochastic Reversal Signal Indicator - another powerful indicator for MetaTrader 5 traders.
The i-OneThird indicator displays candlesticks that represent bullish and bearish patterns in a style similar to Heiken Ashi.Also recommended: Previous Day High, Low, and Close Indicator - similar indicator with strong performance on MetaTrader 5.
The indicator divides the difference between the high and low of a candlestick into three equal parts. It then identifies the pattern based on which third contains the opening price and which third contains the closing price.
This indicator was initially developed in MQL4 and released in 2026.
Figure 1. The i-OneThird Indicator
You may also like: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 - 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.