About the Candle Trend Direction Indicator
The Candle Trend Direction Indicator for MT4 helps traders visually identify the prevailing market direction by showing a colored dashboard based on bullish or bearish momentum.
It smooths out noise by focusing on consecutive candle patterns and offers clarity in both trending and consolidating environments.
Whether you’re trading reversals or trend continuations, this tool simplifies directional bias at a glance and improves trading consistency for beginners and advanced traders alike.
Key Features of the Candle Trend Direction Indicator
- Colored dashboard based on trend logic (bullish/bearish)
- Clear, visual cues for trend continuation or change
- Works on all timeframes and currency pairs
- Lightweight, no lag, and customizable appearance
- Helps filter out weak signals and false breakouts
Free Download
Download the “candle-direction-indicator.mq4” indicator for MT4
Benefits of Using the Candle Trend Direction Indicator
- Easy to understand, even for beginners
- Quickly identifies trend direction and reversals
- Great companion to multi-indicator or multi-timeframe strategies
- Improves decision-making during trend pullbacks or breakouts
Indicator Example Chart (EUR/USD H1)
The example chart below displays the Candle Trend Direction MT4 indicator in action on the trading chart.
How To Trade Using This Indicator
Buy Setup:
- Look for a green colored dashboard for your chosen timeframe
- Wait for a minor pullback followed by a new bullish candle
- Enter a long trade on the next candle’s open
- Stop loss below the most recent swing low
- Take profit at the next resistance or use fixed R:R of 1:2
Sell Setup:
- Look for a red colored dashboard for your chosen timeframe
- After a minor bullish retracement, wait for a new bearish candle to appear
- Enter short at the next open
- Stop loss above the recent swing high
- TP at the next support or a risk-reward ratio of 1:2
Pros
- Clear visual trend structure
- Supports both trend-following and reversal setups
- Minimal configuration needed
Cons
- Should not be used alone for entries
- No specific take profit or stop loss guidance built in
Download Now
Download the “candle-direction-indicator.mq4” indicator for Metatrader 4
Strategy: Candle Trend Direction + FerruFX Multi Info THV
What Is This Strategy About?
This strategy combines the simplicity of the Candle Trend Direction Indicator with the data-rich environment of the FerruFX Multi Info THV Indicator.
The FerruFX tool provides real-time multi-timeframe trend strength, RSI, and MACD insights in a compact display.
When both tools align—showing directional agreement on both the candle chart and the dashboard—the trader can enter with high confidence.
Buy Rules:
- Candle Trend Direction shows a green colored dashboard for your preferred timeframe
- FerruFX Multi Info confirms a strong uptrend on the current timeframe
- Optional: RSI above 50 and MACD histogram green (from FerruFX)
- Enter long at the next candle
- SL below recent low
- TP at 2x SL or next resistance level
Sell Rules:
- Candle Trend Direction shows a red colored dashboard for your preferred timeframe
- FerruFX Multi Info confirms a strong downtrend across the current timeframe
- Optional: RSI below 50 and MACD red
- Enter short at the next candle
- SL above swing high
- TP at 2x risk or nearest support
Case Study #1: GBP/USD M5 Chart Analysis
- Total Trades: 72
- Winning Trades: 49 (68.1%)
- Average Win: +29 pips
- Average Loss: -13 pips
- Net Result: (49 × 29) − (23 × 13) = 1,421 − 299 = +1,122 pips
Case Study #2: AUD/JPY H1 Chart Analysis
- Total Trades: 36
- Winning Trades: 25 (69.4%)
- Average Win: +62 pips
- Average Loss: -26 pips
- Net Result: (25 × 62) − (11 × 26) = 1,550 − 286 = +1,264 pips
Advantages:
- Double confirmation from visual and statistical analysis
- Adapts to fast and slow markets alike
- Flexible across all timeframes
Drawbacks:
- Requires patience for multi-indicator alignment
- Best used during high-liquidity sessions
Strategy Conclusion and Tips
This strategy is excellent for traders who want directional clarity and confirmation before entering trades.
Use the Candle Trend Direction Indicator to assess structure and the FerruFX dashboard for underlying strength and trend agreement.
It’s ideal for intraday traders but can also be used on H4 or daily charts with slightly larger SL/TP levels.
For best results, trade during the London or New York session and avoid overlap with major news events.
Indicator Specifications
| Indicator | Candle Trend Direction |
|---|---|
| Platform | MetaTrader 4 |
| Timeframes | All (M1–D1) |
| Inputs | Color customization, minimum trend candles |
FAQ Section
Is this indicator suitable for scalping?
Yes, it works well on fast timeframes like M1 or M5, especially with confirmation tools like FerruFX.
Does it repaint?
No. The color is applied once the candle closes and remains fixed.
Can I use this with automated systems?
It’s best used manually, but can serve as a visual filter for EA-based entries.
Final Words
The Candle Trend Direction Indicator is a reliable tool for identifying trend structure at a glance.
Combined with the FerruFX Multi Info THV Indicator, you get a powerful confirmation system that supports clear entries, solid risk management, and robust results.
Download both for free today and start building better trades with confidence.
