HTF Candles PO3

Product Name: HTF PO3 - Higher Timeframe Candle Display

Description

HTF PO3 is a powerful visualization tool designed for MetaTrader 5. Its primary function is to draw Higher Timeframe (HTF) candles directly on your main chart, cleanly positioned in the right-hand margin. This allows traders to conduct multi-timeframe analysis without switching charts, providing a clear view of the larger market structure while observing lower-timeframe price action.

This indicator is ideal for traders who reference HTF price levels, such as the daily or 4-hour open, and want to see how the current, forming candle is developing.

Key Features

• Higher Timeframe (HTF) Overlay: Displays a specified number of HTF candles (e.g., H1, H4, D1) on the right side of the chart.

• Current Open Price Line: Automatically draws a customizable horizontal line at the open price of the most recent, currently-forming HTF candle. This line extends from the HTF candle back to the current price action.

• NY Time-Adjusted Display: Optionally displays the start time for each HTF candle, formatted as HH:MM. This feature includes a "New York Time Offset" parameter, allowing you to align the displayed times with the New York session or any other time zone.

• Full Customization: You have complete control over the indicator's appearance, including:

  • Bullish and Bearish candle colors.

  • Candle body width and the margin between candles.

  • The style, color, and width of the open price line.

  • The color, font size, and vertical position of the time text.

How to Use

This indicator is perfect for multi-timeframe analysis, especially for concepts like the "Power of 3" (PO3), where the open of a higher timeframe candle is a critical price level. By loading this indicator, you can instantly see the HTF context and identify key levels (like the HTF open) without ever leaving your execution chart.

Main Parameters

• InpHtfTimeframe: Select the higher timeframe you wish to display (e.g., PERIOD_H1, PERIOD_H4).

• InpCandlesCount: Set the number of HTF candles to show on the right.

• InpBullColor / InpBearColor: Set the colors for bullish and bearish candles.

• InpCandleWidth: Define the width (in pixels/bars) of the candle bodies.

• InpOpenLineColor / Style / Width: Customize the appearance of the current HTF open price line.

• InpShowTimeText: true/false to show or hide the time text below the candles.

• InpNyOffsetHours: Adjust the hour offset for the time display (e.g., -7 for NY time based on your broker's server).

• InpTimeText...: Adjust the color, size, and vertical offset of the time text.