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Displaying Higher-Timeframe Candles with a MetaTrader Indicator

Article MQL5 code base
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Summary

The document describes a MetaTrader 5 indicator that displays candle information from a selectable timeframe, with the timeframe set through an input parameter. It identifies two variants: one for a separate indicator window and another for the main chart window. This makes it a charting aid for comparing higher-timeframe candle structure with the timeframe currently being viewed.

The indicator depends on two other indicators being installed in the platform’s indicators folder. The page provides no rules for interpreting the display, trading signals, backtest results, or performance evidence. Its usefulness is therefore limited to explaining the indicator’s timeframe option, display variants, and installation dependencies; it does not establish that the indicator improves trading decisions.

Key ideas

  • The indicator lets users select the timeframe whose candles are displayed.
  • Two variants place the display in either a separate window or the main chart.
  • Operation depends on two companion indicators being installed.
  • The document gives no strategy rules or evidence of trading performance.

Tags

Technical indicators

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