The Higher Timeframe OHLC indicator is valuable for analyzing the current and previous candles. Developed for the MetaTrader 4 (MT4) platform, it allows traders to view the status of candles from a higher timeframe within their current timeframe.

With this indicator, traders can easily see the open, high, low, and close prices of higher timeframe candles on the current chart, enabling more comprehensive analysis and better decision-making.

Indicator Table

Bullish Candle in Indicator

The price is in an uptrend in the USD/CHF 1-hour chart. The Higher Timeframe OHLC indicator displays four lines on the chart, showing the critical levels of the higher timeframe candle, including the open, high, low, and close prices.

These lines help traders identify necessary support and resistance levels from the higher timeframe on the current chart, allowing them to analyze trends and key points with greater precision.

Bearish Candle in Indicator

In the AUD/USD 1-hour chart, the Higher Timeframe OHLC indicator displays four lines representing the higher timeframe candle's open, high, low, and close prices, helping traders identify key price levels and make better trading decisions.

The indicator uses labels to specify these lines, which is beneficial for more accurate analysis and determination of significant support and resistance levels.

Indicator Settings

Display_Settings

• Chart_theme: Select a custom theme for the indicator;

Indicator_Settings

• Higher_tf: Choose The Higher Timeframe;
• Lookback: Display The Number Of Past Candles;
• Show_current: Show The Current Candle;
• Continue_lines: Draw Lines Forward From The Current Candle (Based On The Candle);
• Open_color: Set Open Price Line Color;
• High_color: Set High Price Line Color;
• Low_color: Set Low Price Line Color;
• Close_color: Set Close Price Line Color;
• Show_separator: Toggle Separator Between Each Candle;
• Line_style: Choose Line Style;
• Line_width: Set Line Width;
• Show_labels: Toggle Labels Display.

Conclusion

The Higher Timeframe OHLC indicator is a practical tool for multi-timeframe analysis, allowing traders to view the open, high, low, and close prices of higher timeframe candles on the current timeframe.

This indicator draws four main lines to clearly show the critical levels of the higher timeframe candle, aiding traders in making more accurate decisions and analyzing price trends effectively.