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Building Higher-Timeframe Candlesticks from Hourly Bars

Article MQL5 code base
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Summary

The document describes an indicator that builds larger candlesticks from hourly data. Its settings let the user choose the higher-bar period, shift the formation time with an hour offset, set how many bars to display, and select separate colors for rising and falling candles.

This is a charting tool for viewing price movement at a coarser interval; the document does not provide trading rules, performance evidence, or guidance on interpreting the bars. The stated parameters explain how to configure the display, but give no detail about handling missing bars, session boundaries, or the effect of the time offset across markets. Treat it as a visualization aid rather than a tested strategy.

Key ideas

  • The indicator aggregates hourly data into higher-period candlesticks.
  • The higher-bar period and formation-time offset are configurable.
  • Users can choose the number of displayed bars and colors for up and down candles.
  • The document gives no trading signals or performance evaluation.

Tags

Technical indicators

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.