Candlestick Signals Forex Indicator For MT4

The Candlestick Signals Forex indicator provides accurate buy and sell signals based on the best candlestick patterns.

The indicator tells you at what price you should buy or sell the currency pair and displays the accompanying signal on the chart.

An alert will pop-up on the screen whenever there’s a new trade opportunity. It also sends out push and email alerts.

Key Takeaways

  • A green arrow plotted on the chart represents a buy signal.
  • A red arrow plotted on the chart represents a sell signal.
  • There’s no lag. Signals are based on price action candlestick patterns.
  • Works for scalping, day trading and swing trading.

Learn below how to open buy and sell trades with the Candlestick Signals MT4 indicator.

Free Download 

Download the “candlesticks-signals.ex4” Metatrader 4 indicator

Indicator Example Chart

Here’s an example (GBP/USD 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 Candlestick Signals MT4 Forex Indicator

Below is an example of how to buy and sell currency pairs with this Forex indicator:

Buy Trigger: Open a buy trade whenever a green arrow appears on the chart. The exact buy price appears on the chart as well.

Set stop loss 3 pips below previous support low, or use your own favorite SL method.

Exit long trade whenever a red arrow pops up on the chart, or use your own favorite take profit method.

Alternatively, close the buy trade for a reward/risk ratio of 1.5 or better.

Sell Trigger: Open a sell trade whenever a red arrow appears on the chart. The exact sell price appears on the chart as well.

Set stop loss 3 pips above previous resistance high, or use your own favorite SL method.

Exit short trade whenever a green arrow pops up on the chart, or use your own favorite take profit method.

Alternatively, close the sell trade for a reward/risk ratio of 1.5 or better.

Download This Forex Indicator

Download the “candlesticks-signals.ex4” MT4 indicator

Adjustable Parameters & Settings

Alerts, send mail, send notification, 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 buy/sell trading strategy.

It can also be combined with trend indicators (EMA, SMA,..), technical oscillators (RSI, MACD,..) and price action methods.

More Info About This Indicator

Tradable Currency pairs: Any

Trading Platform: MT4

Time frames: M1, M5, M15, M30, H1, H4, D1, W1

Indicator Type: candlestick signals

Installation

Copy and paste the indicator in the MT4 indicators data folder.

Then restart the MT4 terminal and attach it to any chart.

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