INS Ghost Candle
- Indicators
-
Jeffrey John Reduca Rama
I am an MQL5 developer specializing in creating Expert Advisors, indicators, and trading utilities for the MetaTrader 5 platform.
My focus is on delivering clean, reliable code with practical use in real trading environments. - Version: 1.10
- Activations: 20
Key Features
-
Multi-Timeframe Candlestick Overlay
Draws candlesticks from a selectable timeframe (default H4) directly on the chart of any symbol and current timeframe. The candles are rendered using rectangle objects, allowing precise time and price alignment independent of the chart’s native candles. -
Interactive Timeframe Selection
A grid of 15 buttons (10m, 12m, 15m, 20m, 30m, 1h, 2h, 3h, 4h, 6h, 8h, 12h, 1d, 1w, 1M) lets you instantly switch the overlaid candle timeframe with a single click. The active timeframe button is highlighted in gold. -
Optional Price Overlay Line
Four additional buttons (Open, High, Low, Close) toggle an overlay line that connects the chosen price component of consecutive higher timeframe candles. Clicking the same price button again turns the line off. The line’s color, style, and width are customizable. -
Persistent Settings
The selected timeframe and price overlay are saved in temporary global variables, so your choices survive indicator reloads or chart changes as long as the MetaTrader 5 terminal remains open. -
Automatic Updating
The indicator redraws the higher timeframe candles and overlay line whenever a new bar forms in the selected timeframe, ensuring the display is always current without manual intervention. -
Customizable Appearance
Colors for bullish and bearish candles can be set independently. The overlay line’s color, style (solid, dashed, etc.), and width are adjustable. You can also choose whether to fill the candle bodies with color or leave them as outlines. -
Non‑Intrusive Design
All drawn objects are hidden from the object list, non‑selectable, and placed with low Z‑order, so they do not interfere with your regular chart objects or mouse interactions.
Advantages for Traders
-
Enhanced Market Context – See higher timeframe price action directly on a lower timeframe chart, helping you identify trends, support/resistance levels, and key reversal zones without switching charts.
-
Rapid Timeframe Comparison – The button interface makes it extremely fast to cycle through 15 different timeframes, saving time and improving workflow.
-
Trend Clarity – The optional overlay line (e.g., on Close or High) provides a clean visual representation of how a specific price component evolves over time on the higher timeframe, useful for spotting breakouts or trend direction.
-
Flexible and User‑Friendly – Works on any symbol and any chart timeframe, with intuitive controls and persistent preferences.
-
Improved Decision‑Making – By combining multiple timeframes on one screen, you can make more informed trading decisions that align with the larger market structure.
