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Measuring Candle Gains and Losses with Open and Close Changes

Article MQL5 code base
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Summary

This MT5 indicator displays the gain or loss for candles whose price change exceeds user-set thresholds. It expresses changes in both points and percentage, making it possible to filter out smaller moves and focus attention on candles with larger changes. The document describes two calculation modes: the difference between a candle’s open and close, or the difference between its close and the previous candle’s close.

Users can configure minimum thresholds in pips and percentage, choose the calculation mode, and change the text color used for displayed values. The material explains the indicator’s settings and purpose but gives no trading rules, chart-based analysis, performance evidence, or guidance for choosing thresholds. It is a display and screening aid; the document does not establish that threshold-crossing candles predict future returns or explain how to account for instrument-specific point and pip conventions.

Key ideas

  • The indicator reports candle changes in points and percentage when configured thresholds are exceeded.
  • It can measure either the open-to-close change or the close-to-previous-close change.
  • Users can set minimum pip and percentage limits and customize the displayed text color.
  • The document offers no evidence that the displayed changes form a profitable trading signal.

Tags

Technical indicatorsStatistics

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