Purpose
The Candle option in the Trade Rule block allows you to benchmark specific price or size characteristics of a chosen candlestick. This is useful for strategies that rely on candle patterns, price levels, or market volatility.
How It Works
When selecting Candle as a value in the Trade Rule block, you can choose from the following parameters:
CandleOpen – The price at which the candle started.
CandleHigh – The highest price reached during the candle.
CandleLow – The lowest price reached during the candle.
CandleClose – The final price when the candle closed.
MediumPrice – (High + Low) ÷ 2 — the midpoint of the candle.
CandleTotalSizeInPips – The full candle range in pips (High − Low).
CandleBodySizeInPips – The size of the candle body in pips (|Close − Open|).
CandleUpperWickSizeInPips – Distance from the top of the body to the High in pips.
CandleBottomWickSizeInPips – Distance from the bottom of the body to the Low in pips.
Candle ID
0 – The current candle (still forming).
1 – The last fully closed candle.
2 – The candle before that, and so on.
Example: On the Daily chart, Candle ID 0 = today’s candle, Candle ID 1 = yesterday’s candle.
Time Frame
You can specify which chart time frame to use for candle data.
This can also be replaced with a variable or input for faster backtesting and easier adjustments.
Adjust
You can modify the candle value by adding, subtracting, multiplying, or dividing it by a number.
Use Cases
Detecting price breakouts above or below candle highs/lows.
Measuring volatility with total size in pips.
Building candle pattern strategies (e.g., pin bars, engulfing).
⚠ Tip: Candle values work best when combined with other blocks like time filters or trade management for more precise setups.