Download ALL MT5 indicators (5915)
Similar MetaTrader Tools
Rectangle Closure Utility for MT4/MT5
Info
The Rectangle Closure Utility for MT4/MT5 is a Indicator for MetaTrader 5 that rectangle closure utility this is an indicator utility designed to easily close or reduce the right side of rectangles to a specified number of bars or candlesticks. It allows you to perform this action in just two clicks, significantly simplifying the manual process.
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 Rectangle Closure Utility for MT4/MT5
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
Rectangle Closure Utility This is an indicator utility designed to easily close or reduce the right side of rectangles to a specified number of bars or candlesticks.
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: Close Rectangle to Bar - another powerful indicator for MetaTrader 5 traders.
Rectangle Closure Utility This is an indicator utility designed to easily close or reduce the right side of rectangles to a specified number of bars or candlesticks.Also recommended: extending the rectangle - similar indicator with strong performance on MetaTrader 5.
It allows you to perform this action in just two clicks, significantly simplifying the manual process.The process involves two steps:
1. Click the button on the utility's control panel.
2. Click on the object on the chart that you wish to resize.
This utility is compatible with objects located on the main chart as well as those within separate chart windows.
Inputs
i_prefix_add_to_object_name
- Adds the prefix "cl" to the name of the closed object.
i_prefix_add_to_object_text
- Adds the prefix "cl" to the description of the closed object.
i_prefix_add_to_object_tooltip
- Adds the prefix "cl" to the tooltip of the closed object.
i_alert_if_obj_inverted
- If set to true, an alert will be triggered if you click on an object on the chart from right to left, rather than left to right. The default value is false. (These messages will be displayed in the Experts tab of the terminal.)
i_font_size
- Specifies the font size for the control panel.
i_y_distance
- Adjusts the vertical position of the control panel in pixels, measured from the top of the chart.
i_x_distance
- Adjusts the horizontal position of the control panel in pixels, measured from the right edge of the chart.
i_button_size_base
- Sets the base size for the indicator control panel buttons.
Note: If you need to reduce or close the right side of rectangles, trendlines, or arrowed lines, you can use this utility.
You may also like: rectangle in interval - excellent alternative for indicator users on MetaTrader 5.
Source Code
/.......
⚠ 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.