The Kijun Candles with two colors indicator for Metatrader 4 uses the Kijin trading method to draw trend-following candlesticks on the main chart.
The indicator pops up in the main MT4 chart window as blue and red colored candlesticks that follow the overall trend direction of any pair.
Buying and selling pairs with the Kijun Candles indicator is simple, even for absolute beginners.
Buy & Sell Trade Example
- Open a buy trade as soon as the first blue candlestick appears on the chart.
- Open a sell trade as soon as the first red candlestick appears on the chart.
The Kijun Candles indicator can be used for both trade entry and exit, or as an additional trend confirmation filter for other strategies and systems.
For scalping, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Kijun_Candles_Two_Colors.mq4” indicator for MT4
Indicator Chart (EUR/USD M15)
The picture below shows the Kijun Candles 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 Kijun Candles 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
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Candlestick
Does the indicator repaint? No.
Kijun Candles + BB MACD V6 MT4 Scalping Strategy
This scalping strategy combines the Kijun Candles Trend Indicator with the BB MACD V6 Forex Indicator for MetaTrader 4.
The Kijun Candles Trend Indicator identifies bullish and bearish trends through colored candles—blue for bullish and red for bearish.
The BB MACD V6 functions as an oscillator, providing buy signals when the histogram is above zero and sell signals when it is below zero.
Combining these indicators allows traders to scalp short-term price movements effectively.
This strategy works best on M1 and M5 charts and is suitable for major currency pairs like EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD.
Buy Entry Rules
- Ensure that the Kijun Candles are blue, confirming a bullish trend.
- Check that the BB MACD V6 histogram is above zero, indicating bullish momentum.
- Enter a buy trade at the current market price.
- Place a tight stop loss below the most recent swing low or minor support level.
- Take profit at 5–15 pips for M1 charts or 10–20 pips for M5 charts, depending on volatility.
Sell Entry Rules
- Ensure that the Kijun Candles are red, confirming a bearish trend.
- Check that the BB MACD V6 histogram is below zero, indicating bearish momentum.
- Enter a sell trade at the current market price.
- Place a tight stop loss above the most recent swing high or minor resistance level.
- Take profit at 5–15 pips for M1 charts or 10–20 pips for M5 charts, depending on volatility.
Advantages
- Combines trend-based candle signals with MACD momentum confirmation for high-probability entries.
- Works well for fast scalping on short timeframes.
- Clear visual signals make it easy to follow for beginners.
- Applicable to multiple major currency pairs for flexibility.
Drawbacks
- Fast market spikes or news events can hit stop losses before the trend continues.
- Requires constant monitoring due to the rapid nature of scalping trades.
- Multiple signals may appear during small retracements, potentially causing overtrading.
- Less effective on very low-liquidity pairs or sessions with thin market activity.
Example Case Studies
Case Study 1 – EUR/USD M1
The Kijun Candles turned blue, indicating a bullish trend.
The BB MACD V6 histogram was above zero, confirming momentum.
A buy trade was entered at 1.1052, with a stop loss at 1.1048 and a take profit at 1.1062.
The trade moved in favor and hit the take profit within 10 minutes for a 10-pip gain.
Case Study 2 – GBP/USD M5
The Kijun Candles turned red, signaling a bearish trend.
The BB MACD V6 histogram was below zero, confirming bearish momentum.
A sell trade was entered at 1.2995, with a stop loss at 1.3005 and a take profit at 1.2985.
The price dropped as expected, reaching the take profit within 15 minutes for a 10-pip gain.
Strategy Tips
- Always trade in the direction of the Kijun candle color to avoid counter-trend entries.
- Use M1 and M5 charts for scalping and adjust take profit according to current market volatility.
- Focus on high-liquidity currency pairs like EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD.
- Combine with nearby support and resistance levels for better stop loss and take profit placement.
Download Now
Download the “Kijun_Candles_Two_Colors.mq4” indicator for Metatrader 4
