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Measuring Period Candle Ranges in Points with a Custom Indicator

Article MQL5 code base
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Summary

This document describes an indicator that displays the size of CaudateXPeriodCandle candlesticks in points. It identifies the indicator’s purpose but does not explain the calculation, define its period settings, or discuss how traders might interpret the plotted ranges.

The indicator depends on the SmoothAlgorithms library for MetaTrader 5, which must be placed in the terminal’s include directory. The document refers readers to a separate article for details about the library’s averaging methods and includes a figure of the indicator. It offers no backtest, performance evidence, or guidance on using candle size as a signal, so the material is a brief tool description rather than a trading strategy.

Key ideas

  • The indicator displays CaudateXPeriodCandle sizes in points.
  • It relies on the SmoothAlgorithms library for MetaTrader 5.
  • The document provides no trading rules or evidence that the indicator predicts returns.

Tags

Technical indicators

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