Projecting Higher-Timeframe Candle Ranges for Candle Range Theory
Summary
The article presents an MQL5 indicator that maps higher-timeframe candles onto a lower-timeframe chart. It displays each selected candle’s range, body, and wicks, and can add pattern arrows and entry, stop-loss, and take-profit lines. Its central implementation concerns are matching lower-timeframe bars to their parent candles by time boundaries, using completed higher-timeframe candles to avoid repainting, and handling gaps in trading hours. Inputs allow users to choose a timeframe, adjust pattern filters and offsets, configure alerts, and change line behavior. The indicator can also use the current higher-timeframe candle for a more immediate view.
The author explains Candle Range Theory as a liquidity-sweep and reversal framework, with levels from larger candles serving as context for entries on smaller charts. The article describes historical display and live alerting, but the provided text offers no independent performance statistics or evidence of predictive advantage. It also acknowledges a trade-off between waiting for a higher-timeframe candle to close and using a less settled current candle. The proposed pattern rules and risk levels therefore need separate validation before use.
Key ideas
- The indicator projects higher-timeframe OHLC structure onto a lower-timeframe execution chart.
- Mapping bars by exact time intervals helps associate each lower-timeframe bar with its parent candle across gaps.
- Using closed higher-timeframe candles supports reproducible signals and avoids repainting, while current-candle mode is more immediate.
- The described CRT setup interprets sweeps beyond candle ranges as possible reversal contexts.
- Automatic entry, stop-loss, and target levels make the pattern rule-based, but the article supplies no independent evidence of profitability.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.