The Stream Candles indicator for Metatrader 5 assigns colors to candlesticks that meet a predetermined criterion by multiplying their size with the volume.
- A green colored candle is bullish, the close price > open price.
- A red colored candle is bearish, the close price < open price.
The indicator allows customizing the following settings and parameters: candle size, volume, alerts, push alerts, bar number.
The Stream Candles indicator can be applied to any price chart and trading instrument of your preference.
Make yourself familiar with the indicator and test it first on a practice account until you fully understand how it works and performs under various market conditions.
It supports all time frames and Forex pairs.
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The following chart shows how the Stream Candles indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Stream Candles Indicator?
It’s advised to use this tool in conjunction with other technical indicators to built a complete Forex strategy.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Stream_Candles.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration