Marking of candlesticks larger than the specified size
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Marking of candlesticks larger than the specified size
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
The indicator searches for candlesticks, which are larger than the specified size, and marks such candlesticks on the chart. It can also show an Alert message, once the current candlestick exceeds the preset size value. There are three adjustable parameters:
Size level
- candlestick size in points;
Displays only last bar
- only the current bar will be marked on the chart;
Use alerts
- showing an alert message to notify that the current candlestick size exceeds the preset value.
Fig.1 Size 10, only the current bar.
Fig.2 Size 10, only the current bar, alerts enabled.
Fig.3 Size 400, all bars.
Fig.4 Size 800, all bars.
