QCL Momentum Candles MT5
- Göstergeler
- Sürüm: 1.0
- Etkinleştirmeler: 5
See momentum changes through a clear, candle-based oscillator.
QCL Momentum Candles converts smoothed Stochastic RSI values into synthetic momentum candles in a separate indicator window. Green and red candles help you follow shifts in momentum, while a centered scale and highlighted extreme zones provide context for your chart analysis.
Main Features
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Synthetic momentum candles: View oscillator movements as candle bodies and wicks.
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Directional colors: Green candles indicate a close at or above the synthetic open; red candles indicate a close below it.
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Centered scale: Values remain between −50 and +50, with a dotted zero reference line.
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Highlighted extreme zones: Upper and lower bands mark +40 to +50 and −50 to −40.
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Adjustable sensitivity: Configure the RSI period, Stochastic period, K smoothing, and D smoothing.
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Customizable appearance: Adjust candle and zone colors through the Colors tab.
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Separate indicator window: Keep momentum analysis visible alongside the price chart.
Reading the Indicator
Above zero: The smoothed oscillator is in the upper half of its range.
Below zero: The smoothed oscillator is in the lower half of its range.
Candle color changes: A change in color can highlight a shift in the oscillator’s movement. Candle color and position relative to zero provide different information and should be considered together.
Extreme zones: Values near the upper or lower zone show that the oscillator is approaching an extreme within its recent range. These conditions can persist during a strong trend and do not automatically signal a reversal.
The candles represent calculated momentum values, rather than market price OHLC data.
Using QCL Momentum Candles
Use the indicator alongside price action, support and resistance, or your preferred trend filter to:
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Assess momentum during a trend.
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Observe momentum changes during pullbacks.
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Compare price movement with oscillator behavior.
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Add context to potential trade setups.
For example, after a pullback in an established uptrend, a change from red to green momentum candles may provide additional context when price also confirms a recovery.
Default Settings
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RSI Period: 14
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Stochastic Period: 14
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K Smoothing: 8
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D Smoothing: 3
Shorter periods generally increase sensitivity. Longer periods generally produce smoother readings with more delay.
Platform and Usage Notes
Designed for MetaTrader 5 and calculated using the current chart’s symbol and timeframe. It can be applied to different instruments and timeframes where sufficient price history is available.
The current candle updates as new ticks arrive and can change color before the bar closes. Use closed candles when your trading method requires confirmed readings.
QCL Momentum Candles is an analytical indicator. It does not open or manage trades and does not include automated buy/sell signals or alerts. No indicator guarantees profitable results; use it with a defined trading plan and appropriate risk management.
