RQL Box MT4

RQL Box MT4

RQL_BOX Indicator — English Description (How to Use)

What it does

RQL_BOX is a manual range box tool controlled by two draggable vertical lines:

• LEFT handle (v-line): selects a candle on a chosen timeframe and sets the box High/Low to that candle’s wicks.

• RIGHT handle (v-line): defines how far to extend the box to the right (projection end).

It then draws:

• the main box (range),

• optional top/bottom 20% zones,

• an optional 50% midpoint line,

• and an on-chart info panel with key metrics.

How to use (step-by-step)

1. Choose the candle timeframe

• InpBoxTF = the timeframe used for the LEFT candle selection (e.g., H4 / D1).

2. Drag the LEFT vertical line onto the candle

• The box will snap to the selected candle and use its High/Low (wick-to-wick) as the box boundaries.

• If enabled:

  • InpSnapLeftToBar = true snaps the LEFT handle to the candle’s open time.

3. Drag the RIGHT vertical line to set the box end

• The RIGHT handle is only the projection end time (how long the box is drawn forward).

• If enabled:

  • InpSnapRightToBarIfPast = true snaps the RIGHT handle to candle opens only when placed in the past (future stays free).

What the chart drawing represents

Main Box (Range)

• Based on the selected candle’s wick range: Box High / Box Low.

• Visual settings:

  • InpBoxFillColor + InpBoxFillAlpha

  • InpBoxBorderColor + InpBoxBorderWidth

Entry Zones (Top/Bottom 20%)

If InpShowZones = true :

• Top 20% zone (upper part of the box)

• Bottom 20% zone (lower part of the box)

Settings:

• InpTopZoneColor + InpTopZoneAlpha

• InpBottomZoneColor + InpBottomZoneAlpha

Midpoint (50%)

If InpShowMid = true :

• A dashed 50% midpoint line across the box.

• Settings:

  • InpMidColor / InpMidWidth

Info Panel (What it tells you)

The panel provides real-time metrics for the selected box:

• Left candle TF — the timeframe used to read the selected candle ( InpBoxTF )

• Box High / Box Low — wick-based boundaries

• Range — Box High − Box Low (in points)

• Midpoint — 50% level of the box

• 20% Thr — 20% of the box range (used for zone size and validation)

• End (right) — the time where the box projection ends (RIGHT handle)

Optional 8:45 Candle Range Check

If InpUse845 = true , the panel also displays:

• 8:45 Range for the selected InpAnalysisDate , found on Inp845TF at Inp845Hour:Inp845Minute

• A simple validity check:
  8:45 range ≥ 20% of box range

• Status:

  • No Data if the candle can’t be found in history

  • Otherwise shows the range and a ✓ / ✗ style result (color-coded)

Typical use cases

• Context box for intraday trading: pick an H4/D1 candle as a framework, trade reactions inside/around the range.

• Premium/discount style zones: top 20% vs bottom 20% for directional bias or mean-reversion setups.

• Fast visual backtesting: drag the LEFT handle across historical candles and observe how price behaves relative to the box.

Recommended default setup

• InpBoxTF = H4 (or D1 for higher structure)

• InpSnapLeftToBar = true

• InpShowZones = true

• InpShowMid = true

• Enable InpUse845 only if you actually use the 8:45 rule in your workflow.