The Big Time Frame candlesticks indicator gives you a great overview of the overall trend across multiple time frames.
You can choose which time frame you want to get displayed on the chart.
Based on that information, the Big Time Frame candlesticks MT4 indicator displays whether the overall trend is up or down for your chosen time frame.
It can be helpful in assisting currency traders to find the best possible trend for any Forex pair.
It’s recommended to mix this indicator with other technical indicators for precise trade entries and exits.
Works for day, scalp and swing traders.
Key Takeaways
- A royal blue colored Big Time Frame candlestick area painted on the chart represents an uptrending market. The closing price is higher than the open price.
- A dark orange colored Big Time Frame candlestick area painted on the chart represents a downtrending market. The closing price is lower than the open price.
- Easy overview of the global currency trend.
Learn below how to open buy and sell trades with the Big Time Frame candlesticks MT4 indicator.
Free Download
Download the “bigger-tf-candles-week-day.ex4” Metatrader 4 indicator
Indicator Example Chart
Here’s an example (AUD/CAD H4 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The Big Time Frame candlesticks MT4 Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: A buy trade will be triggered when two consecutive positive days (royal blue) appear on the chart. You’d enter a buy trade on the open of the third day.
Set stop loss below daily support, or use your own favorite SL method.
Exit long trade when a dark orange Big Time Frame zone appears on the chart, or use your own favorite take profit method.
Sell Trigger: A sell trade will be triggered when two consecutive negative days (dark orange) appear on the chart. You’d enter a sell trade on the open of the third day.
Set stop loss above daily resistance, or use your own favorite SL method.
Exit short trade when a royal blue Big Time Frame zone appears on the chart, or use your own favorite take profit method.
Download This Forex Indicator
Download the “bigger-tf-candles-week-day.ex4” MT4 indicator
Adjustable Parameters & Settings
Time frame, how candles, draw Monday, draw Tuseday, draw Wednesday, draw Thursday, draw Friday, color, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
Usage
The indicator can be deployed as a standalone trading system or strategy.
It can also be combined with trend indicators (moving averages, ADMI,..), technical oscillators (slow Stochastic, RSI,..) and price action strategies.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
