Overview of the Candle_Size_wLabel_wAlert Indicator
The Candle_Size_wLabel_wAlert indicator displays the size of each candle directly on the chart and optionally alerts the user when a candle exceeds a specified size in pips. This makes it easy to identify volatility spikes or key breakout moments at a glance. It is especially useful for scalpers or intraday traders who rely on momentum-based entries.
By visually labeling the candle sizes and offering alert functionality, this tool allows traders to track significant movements in real time without needing to calculate candle ranges manually.
How to Use It in Practice
You can use the Candle_Size_wLabel_wAlert indicator to:
- Spot unusually large candles that may indicate breakout or exhaustion.
- Label candles with their size in pips for quick visual reference.
- Get alerts when volatility exceeds a set threshold.
- Combine with support/resistance or volume analysis for better trade timing.
This is ideal for traders who want to react quickly to sudden price movements, especially during news events or key session opens.
Parameter Explanations
__ measure which
Defines how candle size is calculated. Options include the whole candle (high to low) or just the body (open to close).
__ trigger size (pips)
Sets the pip size that will trigger an alert. If a candle exceeds this size, it is considered significant.
__ show
If true, the indicator displays the pip size of each candle on the chart.
__ font size
Specifies the font size of the displayed text labels on the chart.
__ font color
Sets the color of the text label used to show candle sizes.
__ popup
If true, a popup alert will appear when a candle exceeds the trigger size.
__ push
When enabled, a push notification is sent to the mobile device via the MetaTrader app.
__ email
If true, the indicator will send an email alert when a large candle is detected.
