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Higher-Timeframe Candle Direction Arrows and Repainting

Article MQL5 code base
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Summary

InOutBar marks candles with colored arrows based on whether a selected higher-timeframe candle is higher or lower than the preceding candle. It provides a visual way to view higher-timeframe direction on a chart using the configured timeframe.

The key limitation is repainting: the indicator can revise its markings across the lower-timeframe candles that make up a higher-timeframe candle. As a result, arrows visible before that higher-timeframe candle is complete may not be stable. The document supplies no trading rules, performance evidence, or additional details about how “higher” and “lower” are calculated. Treat the marks as a visualization whose timing and historical appearance need careful review before use in a strategy.

Key ideas

  • The indicator places colored arrows on candles based on a selected higher timeframe.
  • An arrow reflects whether the higher-timeframe candle is higher or lower than the preceding candle.
  • Marks can repaint across the lower-timeframe candles contained within the selected higher-timeframe candle.
  • The document gives no performance evidence or explicit trading rules.

Tags

Technical indicatorsTrend following

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