Candlestick Statistics
Info
The Candlestick Statistics is a Script for MetaTrader 5 that this script counts the number of bullish and bearish candlestick series and displays the results as a chart. It also saves a screenshot of the chart for future reference.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Candlestick Statistics
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
This script counts the number of bullish and bearish candlestick series and displays the results as a chart.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: Strategy Tester Report Statistics with MQL5 Code - another powerful script for MetaTrader 5 traders.
This script counts the number of bullish and bearish candlestick series and displays the results as a chart. It also saves a screenshot of the chart for future reference.Also recommended: Candlestick Statistics Calculation Tool - similar script with strong performance on MetaTrader 5.
The script uses a class to perform the calculations and provides several input parameters:
Count of Bars
- The number of bars, starting from the rightmost bar on the chart, for which the calculation will be performed.
Verification
- A flag to enable or disable the printing of the copied time series and the resulting array of bar series. Note: This should only be enabled for small datasets, as larger datasets will generate a significant amount of printed data.
Save Screenshot
- Enable or disable the saving of screenshots of the resulting chart.
Sleep (milliseconds)
- A delay in displaying the resulting chart.
The script encodes the candlesticks as follows:
- Bullish candlestick: 1
- Bearish candlestick: -1
Screenshots are saved to [data folder]\mql5\files\statistics of candles\, with the series drawn along the x-axis. For example, '-5' represents five consecutive bearish bars, and '2' represents two consecutive bullish bars.
Fig. 1. AUDCAD, H1. 1200 bars
Fig. 2. EURUSD, H1. 1200 bars
Fig. 3. RTS-12.17, M5. 1200 bars
You may also like: Bullish and Bearish Candlestick Counter - excellent alternative for script 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.