Candle Filter - MetaTrader 5 Script | Gold EA Download - MT4/MT5 Resources - MetaTrader 5 Resources

This indicator allows you to display only those candles that meet certain conditions:

The detection of doji candles is based on a configurable threshold ("InpDojiThreshold") that defines the ratio between the body of the candle and its total range. This ensures accuracy in identifying neutral candles.

Traders can define custom colors for each type of candle:

- Bullish: Default color is green (`clrForestGreen`).
- Bearish: Default color is dark red (`clrDarkRed`).
- Doji: Default color is gold (`clrGold`).
- Bottom: Default color is black (`clrBlack`).

The indicator removes unnecessary visual elements such as grid, volume and period separators from the chart to facilitate visual analysis.

1. Initialization (`OnInit`):

2. Main calculation (`OnCalculate`)

3. De-initialization (`OnDeinit`):

When the indicator is removed, the original chart settings are restored, ensuring the trading environment is restored to its original state.

Determine the neutral zone:

This EA aims to impose some rules to manage the basket.

This indicator takes the RSI divergence and plots it in a buffer to automate the EA

This feature helps avoid overloading the server with trading requests when the market is closed for trading

This indicator reads trading history and plots cumulative profit and loss over time, helping visual traders understand how much money they have made or lost over time. Due to rounding of floating point numbers and calculation methods, the current version has a margin of error of 0.02%. With this margin of error, it can be said to be extremely accurate.

Attachment download

📎 candle_filter.mq5 (16.3 KB)

Source: MQL5 #58516