Skip to content

Candle Ratio Metatrader 5 Forex Indicator

    The Candle Ratio Metatrader 5 custom indicator displays the ratio that exist between the bullish and bearish candlesticks over the defined time space.

    The Candle_Ratio MT5 indicator consist of three input parameters:

    Period – defines the period for calculation

    Smoothing period – defines the period of smoothing

    Method – defines the method of smoothing

    Free Download

    Download the “Candle_Ratio.ex5” MT5 indicator

    Example Chart

    The Candle_Ratio custom Metatrader 5 indicator runs a separate window with two lines that are filled red and green.

    Both lines are seen to crossover each other as price travels along the activity chart.

    There are quite a number of things to take home by just starring at the Candle_Ratio, one of them is the fact that price is said to be bullish when the red line of Candle_Ratio MT5 indicator intersect the green line to stay below it.

    On the contrary, if the red line of the Candle_Ratio Metatrader 5 indicator intersect the green line to hover above it, price is said to be bearish.

    Additional confirmation is needed when trading signals from the Candle_Ratio MT5 indicator, considering the fact that it performs poorly when deployed in isolation.

    The formula for the Candle_Ratio MT5 indicator is shown as:

    Up Candle


    Down =0;

    Down Candle


    Up = 0;

    Ratio = Sum(Up) / Sum (Down);


    Download the “Candle_Ratio.ex5” Metatrader 5 indicator

    MT5 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 5

    Type: chart window indicator

    Customization options: Variable (Period, Smoothing period, Method), Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: oscillator


    Copy and paste the Candle_Ratio.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL5 > Indicators (paste here)

    Share this post!