The Candle Range Indicator is a lightweight and easy-to-use MetaTrader tool designed to display a candle’s price range in pips directly on the chart when you hover your mouse over a candlestick. This allows traders to quickly evaluate market volatility and candle strength without adding clutter or additional indicator windows.

In addition to showing the High–Low range, the indicator can optionally display the candle body size (Open–Close range), giving traders a more complete picture of price movement within each candle. This makes the indicator useful for price action analysis, volatility assessment, and candle-based strategy evaluation.

The Candle Range Indicator is fully compatible with both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.

How the Indicator Works
When the indicator is attached to a chart, it remains unobtrusive until the trader moves the mouse cursor over a candle. At that moment, the indicator displays:

• The total candle range (High to Low) in pips
• Optionally, the body size (Open to Close) in pips

This information is displayed in a fixed corner of the chart, with fully customizable appearance settings.

Key Features

• Displays candle range in pips on mouseover
• Optional display of candle body size
• Supports brokers with pipettes (fractional pips)
• Fully customizable font, size, color, and chart position
• Minimal resource usage and no chart clutter

Input Parameters
The indicator offers simple yet flexible customization options:

• ShowBodySize (default: false) – Displays the Open–Close candle body size
• HavePipettes (default: false) – Enables correct pip calculation for brokers using pipettes
• font_color (default: Light Gray) – Text color of the display
• font_size (default: 10) – Text size
• font_face (default: Verdana) – Font type
• corner (default: Upper Left) – Chart corner where the values are displayed
• distance_x / distance_y – Horizontal and vertical offset from the selected corner
• DrawTextAsBackground (default: false) – Draws text as background to avoid covering price bars
• ObjectPrefix (default: "CR-") – Object prefix for compatibility with other indicators

Practical Usage
This indicator is designed as a support tool, not a signal generator. While it does not produce buy or sell signals, candle range and body size can provide valuable insights into:

• Market volatility
• Strength or weakness of price moves
• Momentum changes
• Confirmation of price action patterns

It can be applied to Forex, indices, commodities, cryptocurrencies, and other markets supported by MetaTrader.

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