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The Daily candles on the lower timeframes indicator allows you to display the daily timeframe on a chart of a smaller timeframe. The indicator shows daily candles on the chart, starting from the previous day. It does not show the daily candle of the current day. You can choose the location and color of the candles, as well as enable or disable the display of price labels (High/Low/Open/Close of the day) and High/Low lines. It can help the overall picture in intraday or scalper trading.

Obviously, it is best to use it on timeframes less than the daily one. It works most effectively on the M5 and M15 charts, but you can also use it on the M1/M5/M15/M30/H1/H4 timeframes.

  • Candles
  • UpCandleColor – the color of the bullish candle.
  • DownCandleColor – the color of the bearish candle.
  • PositionOfTheCandle – the location of the daily candle.
  • WidhtOfTheCandle – the width of the candle body.
  • WidhtOfTheWick – the width of the candle shadow.
  • Price tags
  • ShowPriceLabel-enable / disable the display of price labels on the chart.
  • FontColor – the color of the price tags.
  • PriceLabelSize – the size of the price tags.
  • Daily High/Low Lines
  • ShowHighLowDailyLine – enable / disable the display of daily High/Low lines on the chart.
  • LineColor – the color of the lines.
  • LineSytle – line style.
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Krisztian Kunzer

Key Features of Algorithmic Trading Software

30 January 2018

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