Skip to content
All library documents

Displaying Higher-Timeframe FiboCandles as Colored Chart Rectangles

Article MQL5 code base
Read the original

Summary

The document describes an indicator that overlays candles from a larger timeframe as filled rectangles on a chart. The rectangles follow the colors assigned by the FiboCandles indicator: candle bodies distinguish rising and falling direction, while shadows use separate colors.

This is a chart-display tool for viewing higher-timeframe candle structure alongside the current chart. It depends on the compiled FiboCandles indicator. The document provides a brief feature description but no trading rules, performance evidence, or evaluation of how the display affects decisions; it should be treated as a visualization aid rather than a tested strategy.

Key ideas

  • The indicator represents higher-timeframe candles with filled rectangles.
  • Candle body and shadow colors follow the FiboCandles color scheme.
  • The indicator requires the compiled FiboCandles component to run.
  • The description presents a visualization feature, not a tested trading strategy.

Tags

Technical indicators

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