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Measuring Candle Body and Shadow Statistics Across a Chart Interval

Article MQL5 code base
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Summary

This chart script calculates minimum, maximum, and average sizes for candle bodies and shadows. It reports separate statistics for bullish candles, bearish candles, and the full set, displaying the results in the chart’s upper-left corner. The description focuses on how to choose which bars enter the calculation rather than on interpreting the resulting measurements.

The interval can come from configured start and finish dates, two named vertical chart lines, or a specified count of recent bars. In the bar-count mode, the current incomplete candle is excluded. The script stops without calculating if the line setup is incomplete, the start follows the finish, or the requested bar count is negative. Display settings include precision, colors, and font size; a separate option removes labels. The document gives no trading test or evidence that these descriptive statistics predict future price behavior.

Key ideas

  • The script summarizes candle body and shadow sizes with minimum, maximum, and average values.
  • It reports results separately for bullish candles, bearish candles, and all candles together.
  • The calculation interval can be set by dates, named vertical lines, or a recent-bar count.
  • When using a bar count, the unfinished current candle is excluded.
  • The described statistics are chart measurements, with no evidence of predictive trading value.

Tags

StatisticsTechnical indicators

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