marking of candlesticks larger than the specified size
Info
The marking of candlesticks larger than the specified size is a Indicator for MetaTrader 5 that 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.
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 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.
What this tool does
the indicator searches for candlesticks, which are larger than the specified size, and marks such candlesticks on the chart.
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: Smoothed Candlesticks Indicator - another powerful indicator for MetaTrader 5 traders.
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:
Also recommended: Higher Timeframe Background Candlesticks Indicator - similar indicator with strong performance on MetaTrader 5.
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.
You may also like: Background Candlesticks Indicator for MetaTrader 5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_plots 1
#property indicator_label1 "highsize"
#property indicator_type1 draw_arrow.......
⚠ 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.