ID Compare HH LL and Delta Base
Info
The ID Compare HH LL and Delta Base is a Indicator for MetaTrader 5 that this oscillator displays the point differences between successive high and low values of bars/candlesticks in a histogram format. The histogram columns are color-coded based on the direction of highs and lows and the point differences set in the indicator properties.
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 ID Compare HH LL and Delta Base
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
This oscillator displays the point differences between successive high and low values of bars/candlesticks in a histogram format.
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: Volume-Weighted Delta Divergence Oscillator - another powerful indicator for MetaTrader 5 traders.
This oscillator displays the point differences between successive high and low values of bars/candlesticks in a histogram format.Also recommended: Footprint X Ray: Advanced Order Flow and Volume Delta Analysis - similar indicator with strong performance on MetaTrader 5.
The histogram columns are color-coded based on the direction of highs and lows and the point differences set in the indicator properties.
Features of histogram columns:
Above the zero line: Differences between high[n] and high[n-1].
Below the zero line: Differences between low[n] and low[n-1].
Color-coding rules:
For (high[n] < high[n-1]) or (low[n] < low[n-1]):
- If the point difference is greater than the set value, color = darkslategray.
- If the point difference is lower, color = deeppink.
For (high[n] > high[n-1]) or (low[n] > low[n-1]):
- If the absolute point difference is greater than the set value, color = lightgreen.
- If the point difference is lower, color = gold.
The histogram starts from the first bar after the zeroth bar.
Input Parameters:
- i_delta_base: Point difference threshold for default color settings (deeppink and gold).
- i_bars: Number of recent bars for which the indicator values will be displayed.
You may also like: institutional cumulative volume delta (cvd) indicator - 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.