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Mapping an H1 Candle with Nested Lower-Timeframe Boxes

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Summary

This MetaTrader 4 indicator visualizes the structure of a one-hour candle on a lower-timeframe chart. It draws an H1 range box and can place nested boxes for M30, M15, M5, and M1 candles within that hour. The H1 box can include quarter, midpoint, and three-quarter levels; each smaller box can show a midpoint line.

Users can choose to follow the current H1 candle or display a historical one, enable individual lower timeframes, and adjust colors, line widths, styles, and labels. The document describes a charting aid rather than a trading system: it does not place or manage orders, and values change as open candles develop. It offers no performance evidence or rules for turning the displayed structure into entries or exits. The M1 option may create many chart objects and clutter the display, so the author suggests disabling it when necessary.

Key ideas

  • The indicator displays an H1 candle range alongside optional nested lower-timeframe candles.
  • The H1 range can show 25%, 50%, and 75% levels, while nested boxes use a midpoint.
  • Users can follow the current H1 candle or select a historical candle for display.
  • The tool is visual only, and its values update while candles are still forming.
  • Enabling M1 boxes can add many objects and make a chart crowded.

Tags

ForexTechnical indicatorsMarket microstructure

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