Using Candle Range and Wick Ratios for Chart Analysis

Summary

This MetaTrader 5 indicator displays metrics for the candle under the chart crosshair. Its information bar can show the bar index, distance from the cursor to the close, OHLC prices, total range, body size as a share of range, upper and lower wick shares, tick volume, and candle close time. Range and wick proportions provide a compact way to compare candle structure while examining price charts; the indicator itself does not define a trading signal or strategy.

The document describes hovering over candles to inspect values and using a keyboard shortcut or chart lines to toggle or freeze tracking. It also lists display controls and says the tool supports several asset types, expressing distances in pips or points as appropriate. Performance claims include caching a sliding window and limiting rendering frequency, but no benchmark or independent validation is given. The output depends on the displayed market data and is an analysis aid rather than evidence of predictive value.

Key ideas

• The indicator displays OHLC prices and candle range for the bar under the crosshair.
• Body and wick percentages express candle components relative to the full range.
• Tick volume and candle close time can be included alongside price metrics.
• Tracking can be frozen to preserve a chart level as a visual reference.
• The document gives no evidence that these measurements predict future price movement.

Tags

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