Body To Wick Ratio Histogram
Candlestick pattern scanners answer yes/no: is this bar a Doji, is this bar a Marubozu. This indicator answers the underlying question those patterns are approximations of - how much of the bar's own range did the body actually take up, and in which direction. Each closed bar gets one value: (close - open) / (high - low). A full-range bullish bar reads +1.0, a full-range bearish bar reads -1.0, and a bar that closed exactly where it opened - all wick, no body - reads 0.0. Bullish values plot above the zero line, bearish values below, in separate buffers, so the direction is visible from color and position without reading the number. An optional alert fires when the magnitude of a newly closed bar's ratio reaches a threshold you set - useful for catching Marubozu-strength bars without running a second dedicated pattern indicator. Notes and limitations - A zero-range bar (high equals low) is skipped outright rather than producing a division by zero. - This is a shape measurement, not a signal generator - it does not know about trend, support/resistance, or volume. Combine with chart context before acting on an extreme reading. - Uses no chart objects - both plots are ordinary indicator buffers with nothing to clean up in OnDeinit.
Indicator · MT5 · v1.0 · Free
About Body To Wick Ratio Histogram
Body To Wick Ratio Histogram is an indicator for MetaTrader 5. It can alert you with a pop-up, sound, email or push message. It has 2 settings, such as Alert ratio and Alerts. MQL source code included.
Files in the download: BodyWickRatio.ex5, BodyWickRatio.mq5, BodyWickRatio.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Alert ratio | 0.90 | Alert when |body ratio| reaches this on a closed bar |
| Alerts | true | Alert once per closed bar on a new extreme |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 5 open File → Open Data Folder, then go to MQL5 → Indicators.
- Copy the .mq5 file(s) there. Put any .mqh files in MQL5 → Include.
- Open the .mq5 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Candlestick Patterns · Dashboards & Scanners · Alerts · Binary Options · MT5 Indicator · MQL5 Source Code