Candle Structure Scoring for Buyer and Seller Pressure

Summary

The indicator examines candle structure in MetaTrader 5, including body size, upper and lower wicks, candle direction, rejection, and range conditions. It combines these features into a pressure score spanning negative to positive values. Users can choose whether the analysis applies to the current candle or to closed candles, and can adjust body thresholds, wick ratio, range lookback, and update interval. A dashboard also reports spread, current candle range, and average range.

This approach treats candle shape as a proxy for buyer or seller pressure, rather than measuring actual order flow or transaction volume. That distinction limits what the score can establish: candle structure alone cannot confirm who initiated trades or how much traded. The document describes indicator features but supplies no formula, sample analysis, backtest, or performance evidence. It also states that the tool does not trade or provide guaranteed signals, so its readings are informational inputs that require independent interpretation and evaluation.

Key ideas

• The indicator scores candle structure using direction, body strength, wicks, rejection, and range.
• Its pressure score spans negative and positive values.
• Users can analyze either the current candle or closed candles and configure several thresholds and lookback settings.
• The reported buyer and seller pressure is a candle-shape proxy, not actual order flow or volume.
• The indicator displays market context but does not execute trades or guarantee signals.

Tags

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