Candle Counter - indicator for MetaTrader 5

Key Features

1. Week selection:

   • The SelectedWeek parameter defines which week of the month will be numbered.

   • If SelectedWeek = 0, all weeks are considered, and all candles will be numbered.

   • For non-zero values, only the candles of the specified week will be numbered.

2. Reverse Count:

   • When NumberFirstCandle = false , numbering starts at the last candle of the day and proceeds backwards.

3. Dynamic Filtering:

   • The indicator filters candles based on the selected week ( SelectedWeek ) and ignores the others.

4. Dynamic Text Positioning:

   • The numbers are positioned above or below the candles, depending on whether the candle is bullish or bearish.

   • The spacing between the text and the candle is controlled by the PriceOffsetFactor parameter.

5. Visual customisation:

   • Colours, font, text size and anchor type can be adjusted to enhance the appearance.

6. Optimised Performance:

   • The indicator deletes old chart objects before creating new ones, ensuring that there is no unnecessary overhead on the chart.

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Input Parameters

Detailed Features

1. Filtering by Week

• The GetWeekOfMonth() function calculates the week of the month for each candle.

• The condition if(SelectedWeek != 0 && currentWeek != SelectedWeek) ensures that only candles from the selected week are processed.

2. Sequential counting

• The count restarts whenever there is a change of day ( candleDay != previousDay ).

• If NumberFirstCandle = true , the count starts on the first candle of the day.

• If NumberFirstCandle = false , the count starts at the last candle of the day and continues backwards.

3. Text positioning

• The text is positioned above the candle if the closing price is lower than the opening price (bearish candle).

• The text is positioned below the candle if the closing price is higher than the opening price (bullish candle).

4. Creating and Updating Chart Objects

• The CreateText() function creates or updates chart objects on the chart.

• The objects are uniquely named using the ObjectPrefix prefix to avoid conflicts.

5. Automatic Cleaning

• The DeleteObjects() function removes all graphical objects created by the indicator when it is removed or reinitialised.