The Forex Trend Candlestick Painter indicator for Metatrader 4 follows the major trend with the help of an array of colored candlesticks.
The indicator appears in the main MT4 chart window as green and red colored candlesticks.
The indicator works for any trade style and provides simple-to-understand trading signals for both long and short trades.
Buy & Sell Trade Example
- Open a buy trade as soon as the first green colored candlestick appears on the chart.
- Open a sell trade as soon as the first red colored candlestick appears on the chart.
- Reverse the open position whenever an opposite signal appears on the chart.
The indicator can be used as a standalone trading tool for both trade entry and exit.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “painter indicator.mq4” indicator for MT4
Indicator Chart (EUR/USD M5)
The picture below shows the Forex Trend Candlestick Painter mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex Trend Candlestick Painter indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Candlestick
Repaint? No.
Trend Painter XP Moving Average MT4 Intraday Strategy
The Trend Painter XP Moving Average MT4 Intraday Strategy is a clean and effective trading approach that combines visual candlestick signals with dynamic trend confirmation.
It uses the Forex Trend Candlestick Painter Indicator and the XP Moving Average Indicator to identify precise entry and exit points during active market hours.
This strategy is built for intraday traders who prefer a simple visual system without clutter.
It works best on the M15 and M30 time frames, capturing trends as they form and using color-based confirmation to avoid hesitation.
The key idea is to trade in the direction of the XP Moving Average trend while using the Trend Candlestick Painter for signal timing.
When both indicators agree, trades tend to develop with higher momentum and smoother profit runs.
Why This Strategy Works
The Forex Trend Candlestick Painter shows market momentum directly on the chart through colored candles—green for bullish moves and red for bearish ones.
This allows traders to read the market at a glance.
Meanwhile, the XP Moving Average filters out false moves by showing whether the overall trend is up (green line) or down (red line).
Combining these two gives traders a reliable visual confirmation system that’s easy to follow throughout the trading day.
Buy Entry Rules
- Wait until the XP Moving Average line turns green, indicating an uptrend.
- Open a buy position when the first green candle appears on the chart.
- Set the stop loss below the most recent swing low or at least 25 pips.
- Take profit when the first red candle appears or target 40–60 pips for intraday trades.
- If a red candle appears while the XP Moving Average remains green, wait for confirmation before closing.
Sell Entry Rules
- Wait until the XP Moving Average line turns red, indicating a downtrend.
- Open a sell position when the first red candle appears on the chart.
- Set the stop loss above the last swing high or 25 pips, whichever is greater.
- Take profit when the first green candle appears or aim for 40–60 pips.
- Reverse the open position if an opposite signal candle appears during the same trend session.
Advantages
- Easy visual confirmation for both entry and trend direction.
- Ideal for beginners and experienced intraday traders.
- Adaptable to all major forex pairs.
- Helps capture continuous trend movements with minimal lag.
Drawbacks
- Performance can vary in low volatility periods.
Case Study 1 – EUR/USD (M15 Time Frame)
During the London session, the XP Moving Average turned green, confirming an uptrend.
On the 15-minute chart, the first green candle from the Trend Candlestick Painter appeared at 1.0850.
A buy trade was placed with a 25-pip stop loss and a 50-pip take profit.
Over the next two hours, EUR/USD rallied strongly to 1.0900, achieving the target for a clean +50 pip gain.
The alignment between the XP trend color and the painted candle provided an early and accurate entry into the move.
Case Study 2 – USD/JPY (M30 Time Frame)
In the early New York session, the XP Moving Average turned red, signaling a shift into a downtrend.
The first red candle appeared at 151.70 on the 30-minute chart.
A sell position was opened with a stop loss of 30 pips and a take profit of 60 pips.
As the U.S. market volume increased, USD/JPY dropped steadily to 151.10, hitting the target for +60 pips.
The clear trend confirmation prevented premature entries and kept the trader aligned with the market’s direction.
Strategy Tips
- Trade during the most active sessions (London and New York) for stronger momentum.
- Avoid trading when the XP Moving Average switches colors frequently—this indicates sideways markets.
- Combine with a higher time frame confirmation (H1) to ensure trend strength.
- Adjust stop loss and target size depending on pair volatility.
- Consider partial profit-taking at 30 pips to secure gains in volatile sessions.
By combining the visual power of the Forex Trend Candlestick Painter Indicator with the directional precision of the XP Moving Average Indicator, traders can confidently capture intraday opportunities with clarity and consistency.
This setup offers both structure and simplicity for anyone looking to enhance their short-term trading results on MT4.
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Download the “painter indicator.mq4” indicator for Metatrader 4
