Candlesticks to represent contracts instead of time

[Ali Sikandar Butt]

I want to know is there an indicator or expert advisor in mt5 that can show candles by contracts e.g. one candle to represent 1000 contracts of any forex pair, metal, energy, etc. ??? If not can it be coded in MT5???

 This is because trend lines are more accurate when bars represent contracts rather than time frames.

[Fernando Carreiro]

I'm not really sure what you are asking. It sound like you are asking about tick charts or fixed volume charts.

Whatever the case, many non-timeframe based charts can be created by the use of "Custom Symbols". Examples are Renko, Constant Range Bars, etc.

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[Conor Mcnamara]

I guess it's for you to find out what kind of data feed is provided by the brokers API if you've connected some options or futures broker. Note that most MQL5 programmers deal with the forex market where contracts aren't used.

[Ali Sikandar Butt]

Fernando Carreiro #:

I'm not really sure what you are asking. It sound like you are asking about tick charts or fixed volume charts.

Whatever the case, many non-timeframe based charts can be created by the use of "Custom Symbols". Examples are Renko, Constant Range Bars, etc.

Thanks Fernando,

I was able to generate equal volume bar charts using the EA equalvolumebars.mq5. However, it only generates charts for past 3 months. Is there a way i can get it to generate equal volume bar chart for 1 year for example?

[Fernando Carreiro]

Ali Sikandar Butt #: equalvolumebars.mq5

That program uses historical tick data to produce the "Equal Volume Bars", so it depends on how far back your broker supplies that data.

Some brokers offer more tick data and others less. it depends on the broker and the type of account.

You could modify the program to use M1 data instead of tick data, to go further back, but then the "Equal Volume Bars" would be less accurate.