wr b
Info
The wr b is a Indicator for MetaTrader 5 that "wide range body" displays candles having body size larger than the body of the previous three candles (configurable). the indicator displays three types of wrb:n of consecutive bullish candles n of consecutive bearish candles n of consecutive candles of any direction the indicator has one customizable parameter:range - candle range (default is 3) the sequence of n bullish candles is displayed by a greensignal label on the low price of the wrb candle the sequence of n bearish candles is displayed by a redsignal label on the high price of the wrb candle the sequence of n oppositely directed candles is displayed by a bluesignal label on the low price of the wrb candle the sequence of n oppositely directed candles is displayed by an orangesignal label on the high price of the wrb candle.
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 wr b
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
"wide range body" displays candles having body size larger than the body of the previous three candles (configurable).
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: Stochastic Reversal Signal - another powerful indicator for MetaTrader 5 traders.
"wide range body" displays candles having body size larger than the body of the previous three candles (configurable).
Also recommended: Quantora Account Health Monitor MT5: Professional Account Health and Risk Monitoring - similar indicator with strong performance on MetaTrader 5.
the indicator displays three types of wrb:n of consecutive bullish candles
n of consecutive bearish candles
n of consecutive candles of any direction
the indicator has one customizable parameter:
range
- candle range (default is 3)
the sequence of n bullish candles is displayed by a
green
signal label on the low price of the wrb candle the sequence of n bearish candles is displayed by a
red
signal label on the high price of the wrb candle the sequence of n oppositely directed candles is displayed by a
blue
signal label on the low price of the wrb candle the sequence of n oppositely directed candles is displayed by an
orange
signal label on the high price of the wrb candle
You may also like: Quantora Trading Session Monitor MT5: Professional Market Session and Activity Analysis - 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.