Candle Range MetaTrader indicator — is a straightforward and lightweight forex indicator that displays the candle’s range in pips on mouseover. In addition, to the chart High/Low range, it can optionally display the body size (Open/Close) for chart candles. Multiple indicator display parameters are available to control how the forex indicator looks. This indicator is available for MT4 and MT5 versions of the trading platform.
- ShowBodySize (main default = false) — if true, it will also show a candle’s body size.
- HavePipettes ( main default = false) — if true, the forex indicator will assume that the mt4 currency pair’s quote contains pipettes and will show the chart pip ranges accordingly.
- font_color (main default = clrLightGray) — the color of the candle range indicator.
- font_size (main default = 10) — the size of the candle range indicator.
- font_face (main default = “Verdana”) — the font of the candle range indicator.
- Corner (main default = CORNER_LEFT_UPPER) — the location for the candle range indicator on the chart.
- distance_x (main default = 3) — the horizontal distance from the corner to the indicator.
- distance_y (main default = 12) — the vertical distance from the corner to the indicator.
- DrawTextAsBackground (main default = false) — if true, the text label with the candle range value will be drawn as background. It can be helpful to prevent the indicator from obscuring the chart.
- ObjectPrefix (main default = “CR-“) — the prefix for chart objects for compatibility with other forex indicators.
Example and Usage
This example shows the High – Low range and Close – Open body size in pips for the chart candlestick where the mouse pointer is currently hovering. Using this forex indicator is very simple — you move your mouse around the mt4 chart and have valuable information about the chart candle you are pointing at shown for your convenience. It cannot use This indicator on its own to get trading signals. Still, candlestick length and candle body size can be a factor in technical analysis — be it Forex or some other financial market.
Candle Range Forex Indicator Downloads
You can open a live forex trading account with any MT4 Forex brokers to freely use the presented forex indicator for MetaTrader 4. If you want to use an MT5 indicator version of the indicator shown here, you must open a live account with a good broker that offers forex MetaTrader 5.
Warning! If you do not know how to set up this indicator, please read the MetaTrader Forex Indicators Tutorial.
Do you have any suggestions regarding this indicator? You can always discuss the Candle Range indicators with the other traders and MQL programmers on the indicators forums.