Vector Candles Indicator
Introduction to Indicator Settings
The Vector Candles Indicator for MetaTrader 5 (MT5) is highly configurable, allowing traders to customize its behavior, visuals, and features through a comprehensive set of input parameters. These settings control aspects such as volume-based candle coloring, Exponential Moving Averages (EMAs), Point of Control (POC), pivot levels, daily reference lines, labels, alerts, and an on-chart legend. All inputs are defined at the top of the indicator code and can be adjusted via the MT5 indicator properties dialog when attaching it to a chart.The parameters are grouped below by category for clarity. Each entry includes the parameter name, data type, default value, and a detailed description of its purpose and impact. Note that boolean parameters (true/false) toggle features on or off, while integers and doubles control numerical values like periods or multipliers. Colors are selected from MT5's predefined color palette.
Volume and Candle Coloring Settings
These parameters govern the core volume analysis that determines candle colors based on tick volume comparisons.AvgPeriod (int, default: 20)
Specifies the number of previous bars used to calculate the average tick volume (excluding the current bar). A higher value smooths the average, making it less sensitive to recent fluctuations, while a lower value makes it more reactive. This affects how often candles are classified as "above average" or "climax."
ClimaxMultiplier (double, default: 2.0)
The multiplier applied to the average volume to define a "climax" threshold. For example, if set to 2.0, a bar's volume must exceed twice the average to be colored as a climax candle (lime for up, red for down). Increasing this value makes climax detections rarer and more significant.
Legend Settings
The legend provides an on-chart explanation of candle colors and their trading implications.ShowLegend (bool, default: true)
Toggles the display of the legend in the top-left corner of the chart. When enabled, it shows colored examples and descriptions for the six candle types (e.g., "Climax Up: The trend should go back down to the start of the candle.").
LegendX (int, default: 20)
Sets the horizontal (X-axis) distance in pixels from the top-left corner for the legend's position.
LegendY (int, default: 20)
Sets the vertical (Y-axis) distance in pixels from the top-left corner for the legend's position.
TitleFontSize (int, default: 10)
Defines the font size for the legend's title ("Vector Candles Legend").
ItemFontSize (int, default: 8)
Defines the font size for the legend items (candle types and descriptions).
DetailXOffset (int, default: 100)
Sets the horizontal pixel offset for the detailed descriptions next to each legend item, allowing space for the colored squares and names.
DetailTextColor (color, default: clrDarkOrange)
Specifies the color for the descriptive text in the legend (e.g., "- The trend should go back down...").
EMA Settings
These control the display and styling of the six Exponential Moving Averages (EMAs), which are plotted as lines on the chart.EMA13_Width (int, default: 2)
Sets the line width for the 13-period EMA (red by default).
EMA20_Width (int, default: 2)
Sets the line width for the 20-period EMA (orange by default).
EMA50_Width (int, default: 2)
Sets the line width for the 50-period EMA (dodger blue by default).
EMA100_Width (int, default: 2)
Sets the line width for the 100-period EMA (violet by default).
EMA200_Width (int, default: 2)
Sets the line width for the 200-period EMA (gold by default).
EMA800_Width (int, default: 2)
Sets the line width for the 800-period EMA (olive drab by default).
ShowEMA13 (bool, default: true)
Toggles the visibility of the 13-period EMA line and its label ("13").
ShowEMA20 (bool, default: true)
Toggles the visibility of the 20-period EMA line and its label ("20").
ShowEMA50 (bool, default: true)
Toggles the visibility of the 50-period EMA line and its label ("50").
ShowEMA100 (bool, default: true)
Toggles the visibility of the 100-period EMA line and its label ("100").
ShowEMA200 (bool, default: true)
Toggles the visibility of the 200-period EMA line and its label ("200").
ShowEMA800 (bool, default: true)
Toggles the visibility of the 800-period EMA line and its label ("800").
POC Settings
These parameters manage the Point of Control (POC) calculation and display, which identifies the price level with the highest estimated volume.ShowPOC (bool, default: true)
Toggles the display of the POC horizontal line and label ("POC").
POC_Bars (int, default: 100)
Defines the number of recent bars used to calculate the POC. A larger value provides a broader historical view but may slow computation on lower timeframes.
POC_Color (color, default: clrCadetBlue)
Sets the color of the POC line and label.
POC_Width (int, default: 2)
Sets the width of the POC line.
POC_Display_Bars (int, default: 50)
Specifies the number of bars over which the POC line is drawn (from the right side of the chart). This limits the line's length for better visibility.
Pivot and Midpoint Settings
These control the daily pivot points (R1-R3, S1-S3) and midpoints (M1-M4), calculated from the previous day's data.ShowPivots (bool, default: true)
Toggles the display of pivot levels (R1-R3 resistances, S1-S3 supports) as horizontal lines with labels.
ShowMidpoints (bool, default: true)
Toggles the display of midpoint levels (M1-M4) as horizontal lines with labels.
Pivot_Display_Bars (int, default: 30)
Sets the number of bars over which pivot and midpoint lines are drawn (from the right side of the chart).
Resistance_Color (color, default: clrRed)
Defines the color for resistance lines (R1-R3) and related midpoints (M1-M2).
Support_Color (color, default: clrLime)
Defines the color for support lines (S1-S3) and related midpoints (M3-M4).
Pivot_Line_Width (int, default: 1)
Sets the width for all pivot and midpoint lines.
Daily Reference Line Settings
These manage the horizontal lines for the current day's open, high, and low.ShowDailyOpen (bool, default: true)
Toggles the display of the daily open line and label ("Daily Open").
DailyOpen_Color (color, default: clrYellow)
Sets the color of the daily open line and label.
DailyOpen_Width (int, default: 1)
Sets the width of the daily open line.
ShowDailyHigh (bool, default: true)
Toggles the display of the current daily high line and label ("Current Daily High").
DailyHigh_Color (color, default: clrAqua)
Sets the color of the daily high line and label.
DailyHigh_Width (int, default: 1)
Sets the width of the daily high line.
ShowDailyLow (bool, default: true)
Toggles the display of the current daily low line and label ("Current Daily Low").
DailyLow_Color (color, default: clrAqua)
Sets the color of the daily low line and label.
DailyLow_Width (int, default: 1)
Sets the width of the daily low line.
Daily_Display_Bars (int, default: 30)
Specifies the number of bars over which daily lines are drawn (from the right side of the chart).
Label Offset Settings
These control how far to the right (in bars) labels are placed from the latest bar, preventing overlap with price action.EMA_Label_Offset (int, default: 5)
Sets the bar offset for all EMA labels (e.g., "13" next to the EMA 13 line).
POC_Label_Offset (int, default: 12)
Sets the bar offset for the POC label.
Pivot_Label_Offset (int, default: 22)
Sets the bar offset for pivot and midpoint labels (e.g., "R1").
Daily_Label_Offset (int, default: 10)
Sets the bar offset for daily line labels.
Alert Settings
These enable notifications for climax candles, which may signal potential reversals.AlertOnClimax (bool, default: false)
Toggles alerts for climax candles (high-volume bars). When enabled, an alert triggers on the close of such a bar.
AlertPopup (bool, default: false)
Enables pop-up alerts in MT5 for climax events.
AlertEmail (bool, default: false)
Enables email alerts (requires MT5 email setup) for climax events.
AlertMobile (bool, default: false)
Enables mobile push notifications (requires MT5 mobile setup) for climax events.
