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Candle Pips MT5

The "Candle Pips" indicator is a tool that helps us a quick way to see the size of the candles on our platform; this is not only of great help to any trader who wants to study the market thoroughly, it is helpful in various strategies that are based on size of the candles.

The indicator shows the value in Pips of each candle to our current graph, rounded to an integer.

It has simple inputs

  • Candle Type: this entry allows you to select which part of the Candle we want to measure. If you select "High__Low" will give us the full value of the candle, the distance between the maximum and minimum of each of the candles. If you select "Open__Close" We give only the value of the candle body, excluding the Wicks.
  • Color_Values: in this entry, change the color with which the measurement result of each candle will be shown, in this way do not have to change your template.
  • Distance_of_Price: from here you can configure the distance of the result that shows the size of the Candle, with respect to the high of the same.
  • DECIMAL: This option select whether or not to (True, False), see the measurement result to an integer digit, approximate, or see the most actual result, with the decimal digit.
  • Pos: With this option we allow the setting of a second indicator "candle Pips" in the same graph, and thus see the 2 options price "High__Low" and "Open__Close", the default is 0, the setting of a new indicator it should have as value 1.
Reviews 1
Carrie Law
Carrie Law 2020.05.04 06:34 

Function is working well!

Carrie Law
Carrie Law 2020.05.04 06:34 

Function is working well!

Version 1.7 2017.02.28
Fix the correct location on the candle without needing the "update" button
Is rewritten again, optimizing consumption
Delete the input "candles_to_count", since by default it works on max 2000 candles.
add the input "distance_of_price" where the position, in the chart, of the result displayed is set