The Candle Body Size Indicator MT4 is an informational indicator for MetaTrader 4 and is designed to display the size of each candle body on the main chart. The body, defined as the difference between the Open and Close prices, clearly shows the market’s directional momentum. This indicator focuses solely on displaying the candle body in numerical values, excluding the upper and lower shadows. The shadows, often called wicks, represent the highest and lowest prices reached during the session, but they also indicate levels where the price did not hold by the candle’s close. It plots values in blue above the bullish candles and red below the bearish candles. Moreover, it is user-friendly and customizable, with colors, font size, and type. While candle body size information alone may not provide sufficient data for making informed trading decisions, it can still offer meaningful insights into market behavior.
This indicator is suitable for traders of all skill levels and across all time frames. Its versatility extends to trading multiple currency pairs within any forex trading system or strategy, for additional information on candle body sizes.
Indicator Settings
How to Install Candle Body Size Indicator MT4
Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:
The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.
