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Using a Higher Timeframe for the Three Candles Indicator

Article MQL5 code base
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Summary

This document describes a version of the Three Candles indicator with a configurable chart period. The timeframe input lets a user select the period from which the indicator draws or calculates its signals, with a four-hour period set as the default. This can help traders view indicator information from a higher timeframe while working on a chart with a different period.

The document gives no definition of the Three Candles signal, trading rules, performance evidence, or guidance on interpreting results. It mainly explains the timeframe option and notes that the base indicator must be installed for this version to work. Consequently, it offers only a limited implementation detail; traders would need the base indicator documentation to assess the method or use it as a standalone strategy.

Key ideas

  • The indicator exposes a timeframe parameter for selecting its calculation period.
  • A four-hour period is the stated default.
  • The document does not explain the Three Candles signal or provide performance evidence.
  • The base Three Candles indicator is required for this version to operate.

Tags

Technical indicators

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