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Daily Candle Size Indicator For MT5

    The Daily Candle Size indicator for Metatrader 5 displays the daily candle sizes for several trading days in a dedicated chart window.

    The indicator appears as red colored bars on the chart. Each bar corresponds to 1 trading day.

    Key takeaways:

    • A big red candle indicates high levels of market volatility.
    • A small red candle indicates limited market volatility.

    You have the flexibility to adjust the following indicator variables and parameters: daily candle size color.

    Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.

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    DailySize.mq5 Indicator (MT5)

    Chart Example

    The picture below shows how the Daily Candle Size indicator looks like when applied to the MT5 chart.

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    DailySize.mq5 Indicator (MT5)

    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 DailySize.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
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