Discussing the article: "Mastering Kagi Charts in MQL5 (Part I): Creating the Indicator"
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Check out the new article: Mastering Kagi Charts in MQL5 (Part I): Creating the Indicator.
Learn how to build a complete Kagi Chart engine in MQL5—constructing price reversals, generating dynamic line segments, and updating Kagi structures in real time. This first part teaches you how to render Kagi charts directly on MetaTrader 5, giving traders a clear view of trend shifts and market strength while preparing for automated Kagi-based trading logic in Part 2.
Kagi charts are a special type of price chart that focuses on real market movement. They were first created in Japan many years ago. Unlike normal candlestick charts that update at every fixed time interval, a Kagi chart only changes direction when the price moves by a specific amount. This makes Kagi charts very clean and excellent at removing unnecessary noise.
Because a Kagi chart does not depend on time, it gives the trader a clear picture of the trend. When the price rises, the line grows upward. When the price falls, the line moves downward. The chart also changes its style when demand turns into supply. This simple structure helps traders see trend strength without distraction.
In a normal candlestick chart, the market prints a new bar at fixed time intervals. A Kagi chart behaves differently. It extends upward only when the price rises, and it turns downward only when the price falls by a specified reversal amount. When the balance of power changes from supply to demand, the Kagi line changes its thickness or color. This clear behavior is what makes Kagi Charts so powerful for trend analysis.
Author: Chacha Ian Maroa