Quantora Candle Strength Analyzer MT5 - Buyer Seller Pressure and Wick Analysis

Related: Quantora Account Health Monitor MT5 - Professional Account Health and Risk Monitor - another powerful indicator for MetaTrader 5 traders.

Also recommended: Quantora Trading Session Monitor MT5 - Professional Market Session and Activity Monitor - similar indicator with strong performance on MetaTrader 5.

Quantora Candle Strength Analyzer MT5
is a professional price-action analysis indicator designed to evaluate the internal structure and strength of individual candles directly inside MetaTrader 5.

Instead of looking only at whether a candle is bullish or bearish, the indicator analyzes:

Candle Body % Upper Wick % Lower Wick % Buyer Pressure % Seller Pressure % Candle Direction Candle Strength Wick Rejection Range Expansion / Compression Pressure Score

The results are displayed in a professional dashboard that provides a quick overview of the current candle's structure and market pressure.

The indicator can analyze either the
currently forming candle
or the
last closed candle
.

Main Features

Real-time candle analysis

Bullish / Bearish candle detection

Candle Body percentage

Upper Wick percentage

Lower Wick percentage

Buyer Pressure percentage

Seller Pressure percentage

Strong candle detection

Moderate candle detection

Weak / Indecision detection

Upper Wick Rejection detection

Lower Wick Rejection detection

Candle range analysis

Average range comparison

EXPANSION detection

NORMAL range detection

COMPRESSION detection

Pressure Score from
-5 to +5

Current Candle mode

Closed Candle mode

Adjustable analysis thresholds

Adjustable range lookback

Live Bid / Ask

Live Spread

Automatic dashboard updates

Professional Quantora interface

Free and open-source MQ5 code

Candle Structure Analysis

Every candle consists of three primary components:

BODY UPPER WICK LOWER WICK

The indicator calculates each component as a percentage of the candle's total High-Low range.

For example:

Total Candle Range = 35 points Body = 24 points → 68.57% Upper Wick = 6 points → 17.14% Lower Wick = 5 points → 14.29%

This allows the candle structure to be evaluated numerically rather than visually alone.

Candle Direction

The basic candle direction is determined from Open and Close.

Close > Open → BULLISH Close < Open → BEARISH Close = Open → NEUTRAL

Direction alone, however, does not determine candle strength.

The Body percentage is also evaluated.

Candle Strength

The default Strong Body threshold is:

65%

If the candle body represents at least 65% of the entire candle range, the candle can be classified as:

STRONG BULLISH or STRONG BEARISH

depending on its direction.

The default Weak Body threshold is:

30%

A candle with a body percentage at or below this level is classified as:

WEAK / INDECISION

Candles between these thresholds can be classified as:

MODERATE BULLISH or MODERATE BEARISH

All thresholds can be customized from the indicator inputs.

Buyer / Seller Pressure

The indicator includes a simple candle-based Buyer/Seller Pressure model.

Buyer Pressure is calculated according to the location of the Close inside the candle's High-Low range:

Buyer Pressure = (Close - Low) / (High - Low) × 100

Seller Pressure is:

Seller Pressure = 100 - Buyer Pressure

Example:

BUY PRESSURE: 74.30% SELL PRESSURE: 25.70%

The dashboard then classifies pressure as:

BUYERS DOMINANT SELLERS DOMINANT BALANCED

Important

Buyer/Seller Pressure is a
price-action proxy based on candle structure
.

It is
not exchange order flow, Level II data, bid/ask volume, footprint data or actual buyer/seller transaction volume
.

This distinction is important when interpreting the indicator.

Wick Rejection Analysis

The indicator separately analyzes the upper and lower candle wicks.

Default Dominant Wick threshold:

45%

If the Upper Wick represents a sufficiently large portion of the candle range and dominates the Lower Wick:

UPPER REJECTION

is displayed.

If the Lower Wick dominates:

LOWER REJECTION

is displayed.

Otherwise:

BALANCED

is displayed.

This can help identify candles where price moved significantly away from one side of its range before closing.

Range Analysis

The indicator compares the current candle range with the average range of previous candles.

Default:

Lookback = 20 candles

The calculation is:

Range Ratio = Current Candle Range / Average Range × 100

Example:

Average Range = 28.7 points Current Range = 34.5 points Range Ratio = 120.2%

Range Classification

The current version uses three range states.

EXPANSION

Range Ratio >= 150%

The current candle is significantly larger than the recent average.

NORMAL

60% < Range Ratio < 150%

The candle is within the normal recent range environment.

COMPRESSION

Range Ratio <= 60%

The current candle is significantly smaller than the recent average.

This provides additional context for interpreting candle strength.

Pressure Score

Quantora Candle Strength Analyzer combines several candle characteristics into a numerical
Pressure Score
.

Score range:

-5 → Strong Seller Pressure 0 → Balanced +5 → Strong Buyer Pressure

The model considers:

Candle Direction Candle Strength Buyer / Seller Pressure Wick Rejection

Example:

CANDLE DIRECTION: BULLISH CANDLE STRENGTH: STRONG BULLISH PRESSURE: BUYERS DOMINANT WICK: LOWER REJECTION PRESSURE SCORE: +5 / 5

A negative score represents bearish/seller-oriented candle characteristics.

A positive score represents bullish/buyer-oriented candle characteristics.

Current Candle / Closed Candle Mode

The indicator supports two analysis modes.

Current Candle

Use Current Candle = true

The currently forming candle is analyzed.

Values can change continuously until the candle closes.

Closed Candle

Use Current Candle = false

The most recently completed candle is analyzed.

This provides stable values that no longer change after candle close.

Example Dashboard

QUANTORA CANDLE STRENGTH ANALYZER MT5 ──────────────────────────────────── SYMBOL: EURUSD TIMEFRAME: M15 SPREAD: 1.5 pts CANDLE STRENGTH: STRONG BULLISH PRESSURE SCORE: +4 / 5 DIRECTION: BULLISH PRESSURE: BUYERS DOMINANT RANGE: EXPANSION CURRENT CANDLE STRUCTURE BODY: 72.60% UPPER WICK: 15.60% LOWER WICK: 11.80% BUY PRESSURE: 74.30% SELL PRESSURE: 25.70% WICK ANALYSIS: BALANCED OPEN: 1.08710 HIGH: 1.08985 LOW: 1.08640 CLOSE: 1.08920 CANDLE RANGE: 0.00345 AVG RANGE: 0.00287 RANGE vs AVG: 120.2% MODE: CURRENT CANDLE

Adjustable Parameters

Default settings:

Lookback Bars = 20 Strong Body Percent = 65 Weak Body Percent = 30 Dominant Wick Ratio = 45 Use Current Candle = true Update Interval = 2 seconds

These parameters can be customized according to the user's analysis methodology.

Supported Timeframes

The indicator operates on the timeframe of the chart where it is attached.

For example:

M1 M5 M15 M30 H1 H4 D1

Changing the chart timeframe automatically changes the candle data being analyzed.

Supported Markets

Quantora Candle Strength Analyzer can be used on broker-supported MetaTrader 5 instruments, including:

Forex

Gold and other metals

Indices

Commodities

Crypto CFDs

Other supported symbols

Because the analysis is based primarily on OHLC candle structure, it can be applied to many different markets and timeframes.

Installation

Place:

Quantora Candle Strength Analyzer MT5.mq5

inside:

MQL5 → Indicators

Open the file with MetaEditor and compile it.

Then attach
Quantora Candle Strength Analyzer MT5
to the desired MetaTrader 5 chart.

The dashboard will begin analyzing candle structure automatically.

Important Notes

The indicator is designed as a
price-action analysis and monitoring tool
.

Buyer/Seller Pressure represents the location of the candle Close within its High-Low range and should not be interpreted as actual order-flow volume.

When Current Candle mode is enabled, all values can change until the candle closes.

Strong Bullish, Strong Bearish, Buyer Dominant, Seller Dominant, Wick Rejection and Pressure Score classifications are analytical outputs based on the mathematical rules described above.

The indicator does not:

Open trades

Close trades

Modify positions

Set Stop Loss

Set Take Profit

Guarantee market direction

Provide guaranteed BUY or SELL signals

Product Information

You may also like: Quantora Symbol Information Dashboard MT5 - Professional Symbol and Trading Specifications Panel - excellent alternative for indicator users on MetaTrader 5.

#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version   "1.00"
#property strict
#property indicator_chart_window
#property indicator_plots 0
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
input group "========== ANALYSIS SETTINGS =========="
input int    InpLookbackBars       = 20;
input double InpStrongBodyPercent  = 65.0;

.......

• 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.