What is 4_ma_candles?
4_ma_candles is an MT5 indicator that applies moving-average calculations to open, high, low, and close values and plots the result as custom candlesticks.
The transformed candles provide a smoothed visual representation of price movement. Candle bodies and colors can be compared with surrounding chart structure without treating them as standalone decisions.
How to use 4_ma_candles
Compare the moving-average candles with ordinary price candles and note whether their bodies are expanding or contracting:
- Use the smoothed OHLC candle display as a separate view from Heikin-Ashi, since the calculation is different.
- Remember that the indicator applies moving averages separately to open, high, low, and close before drawing its candles.
- Compare larger bodies during directional movement with smaller bodies during quieter ranges as a visual description of the display.
- Adjust the moving-average period and type to change the smoothing used for the four price components.
Where it helps
OHLC smoothing produces a cleaner candle view, one period and method control the display, and transformed candles make price structure easier to compare on the chart.
MT5 Indicator Parameters
The table below lists the available MT5 indicator parameters. You can customize these options in the MetaTrader Inputs dialog to match your trading preferences.
| Parameter | Description |
|---|---|
| Averages period | Sets the moving-average period. Default: 25. |
| Averages method | Selects the moving-average method. Default: Exponential moving average. |
The screenshot above shows the default input parameters in the MT5 settings window.
How to Install .ex5 Indicator in MetaTrader 5
- Download the ZIP file and extract it.
- In MT5, select File → Open Data Folder.
- Open MQL5 → Indicators and copy the EX5 or MQ5 file into it.
- If the package includes library files, copy them to MQL5 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT5, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
