Point & Figure Charts - page 2

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Building a Traditional Point and Figure Indicator in MQL5

Building a Traditional Point and Figure Indicator in MQL5

MetaTrader 5 does not provide a built-in Point and Figure chart, and traditional indicators are primarily designed around time-based price bars. This makes it difficult to study pure price movement without time distortion. To overcome this limitation, we will develop a custom Point and Figure indicator in MQL5 that uses a fixed box size and reversal logic to represent market structure more clearly, without relying on time-based candle formation.
Building a Traditional Point and Figure Indicator in MQL5
Building a Traditional Point and Figure Indicator in MQL5
  • 2026.06.22
  • www.mql5.com
This article implements a custom Point and Figure indicator in MQL5 that maps price movement into X/O columns using a fixed box size and three-box reversal logic. We define the base price, convert prices into box intervals, manage trends and reversals, auto-scale the indicator window, and render symbols with objects, providing a clean, time-independent view of trends, breakouts, and support/resistance.
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