Candle Range in pips Indicator MT5
- Indicators
- Eda Kaya
- Version: 1.3
Candle Range in pips Indicator for MetaTrader 5
The Candle Range in pips Indicator for MetaTrader 5 is a technical tool developed to clearly measure and display the true range of each candle, calculated as the distance between the High and Low. This indicator visualizes price movement through a histogram positioned beneath the chart, where each bar reflects the volatility of a single candle.
Green bars indicate bullish candles, while red bars correspond to bearish candles, allowing traders to easily distinguish market momentum and trend direction.
«Indicator Installation & User Guide»
Candle Range in pips Indicator Table
The essential characteristics of the Candle Range in pips Indicator are listed below:
Category | Momentum – Technical Tool – Oscillator |
Platform | MetaTrader 5 |
Skill Level | Beginner |
Indicator Type | Continuation – Reversal |
Timeframe | Multi-timeframe |
Trading Style | Intraday Trading |
Trading Market | All Markets |
Candle Range in pips at a Glance
In this indicator, variations in the height of histogram bars reveal critical insights about volatility levels, potential breakouts, and possible momentum reversals. It is frequently used within strategies such as Price Action setups, Scalping, and Breakout trading, also functioning as a timing filter for trade entries and exits.
Indicator in an Uptrend
In the 5-minute Gold Spot Index (XAU/USD) chart, a steady increase in histogram bar size alongside price breaking previous resistance levels — with stronger bullish candles and wider ranges — signals rising buyer dominance and continuation of the upward trend.
Indicator in a Downtrend
On the 5-minute AUD/CAD chart, after price pierces below a support level, the histogram shows heightened volatility and extended bearish candles with noticeable upper wicks. These conditions reflect growing selling pressure and an intensifying downtrend.
If this setup develops after a consolidation range, it often marks a shift in sentiment from neutral to bearish.
Conclusion
The Candle Range in pips Indicator for MetaTrader 5 is a practical oscillator that evaluates true candlestick volatility. By studying the range of each candle, traders can better assess momentum strength and determine the likelihood of trend continuation or reversal.
Persistent expansions or contractions in candle ranges at decisive market levels highlight transitions in overall market behavior.