About the ALTR Trend Candlestick Indicator
The ALTR Forex Trend Candlestick Indicator for MT4 is a unique visual tool that replaces standard candles with trend-enhanced colored candles.
It helps traders instantly recognize bullish and bearish momentum by painting the candles in vibrant trend-based colors.
Perfect for traders who prefer to focus on price action and structure, this indicator improves trend clarity without cluttering your chart with unnecessary lines or arrows.
Key Features
- Colors candles based on trend strength and direction
- Light green/red = weak momentum, dark = strong momentum
- No repainting or lagging
- Supports all forex pairs and timeframes
How It Works
The indicator uses a trend-strength algorithm to color candles dynamically as the trend develops.
As momentum builds in one direction, the candle colors change to reflect the market bias:
This approach makes it easy to ride trends with confidence or identify when the market is losing strength.
Free Download
Download the “altr-trend-indicator.mq4” indicator for MT4
Benefits of Using the Indicator
- Cleaner charts with trend-based candle coloring
- Easy to read for beginner and advanced traders alike
- Pairs perfectly with support/resistance or moving averages
- No signals, arrows, or noise—just pure price action
Indicator Example Chart (EUR/USD M30)
How To Trade Forex Using This Indicator
- Open a long trade as soon as the first blue candlestick gets printed on the trading chart.
- Open a short trade as soon as the first orange candlestick gets printed on the trading chart.
- Exit the trade whenever an opposite trading signal arrives on the chart, or use your favorite take-profit strategy.
- Set a stop loss above or below the candlestick resistance or support.
Download Now
Download the “altr-trend-indicator.mq4” indicator for Metatrader 4
ALTR Trend Candlestick + Simple Forex Trading System Strategy for MT4
This strategy combines the candlestick pattern detection and trend identification of the ALTR Forex Trend Candlestick Indicator with the straightforward entry and exit signals of the Simple Forex Trading System Indicator.
Together, these tools offer a clear and effective way to trade trending markets by combining price action confirmation with simple signal rules, making it ideal for traders on M15 to H1 timeframes.
What Is This Strategy About?
The ALTR Forex Trend Candlestick Indicator highlights bullish and bearish candlestick patterns that coincide with underlying trend strength, giving traders visual cues for potential reversals or continuation setups.
The Simple Forex Trading System Indicator uses basic moving average crossovers or similar simple signals to provide entry and exit points.
When combined, the strategy ensures trades are taken with both price action validation and system-confirmed momentum.
Buy Rules
Conditions:
- The ALTR indicator identifies bullish candlestick patterns aligned with an uptrend.
- The Simple Forex Trading System Indicator signals a buy, usually via a moving average crossover or a green signal.
Entry:
Enter a buy trade when the bullish candlestick pattern appears and the Simple Trading System confirms the buy signal.
Stop Loss:
Place a stop loss below the recent swing low or below the candlestick pattern low.
Take Profit:
Use a fixed risk-reward ratio such as 1:2 or 1:3, or exit when the Simple Trading System issues a sell signal.
Sell Rules
Conditions:
- The ALTR indicator highlights bearish candlestick patterns within a downtrend.
- The Simple Forex Trading System Indicator gives a sell signal (e.g., moving average crossover down or red signal).
Entry:
Open a sell trade when bearish candlestick confirmation aligns with the system’s sell signal.
Stop Loss:
Set stop loss above the recent swing high or candlestick pattern high.
Take Profit:
Target a minimum 1:2 risk-reward ratio or close the trade once the Simple System signals a reversal.
Advantages
- Combines candlestick price action with simple system signals for better entry precision.
- Easy to understand and implement, suitable for beginner to intermediate traders.
- Helps filter false signals by requiring dual confirmation.
- Effective on multiple forex pairs and commonly used timeframes.
Drawbacks
- It may generate fewer signals due to the need for two confirmations.
- Choppy or sideways markets can still cause some false entries.
- Requires discipline to avoid trading candlestick patterns that do not align with the system’s trend signal.
Conclusion
The ALTR Forex Trend Candlestick + Simple Forex Trading System Strategy provides a balanced approach by combining classic price action signals with straightforward trading system entries.
The ALTR Indicator enhances your understanding of market sentiment through candlestick patterns, while the Simple Forex Trading System offers clear buy and sell confirmations.
This dual confirmation strategy promotes more confident and disciplined trading decisions.
Examples & Use Case
On the EURUSD H1 chart, a shift from blue to orange candlesticks indicates a new downtrend forming.
Traders can ride the trend while candles remain orange, trailing the stop until blue candles return.
Pros and Cons
| Pros | Cons |
|---|---|
| Visually intuitive trend reading | No explicit buy/sell arrows |
| Great for price action traders | Requires confirmation tools for best results |
Indicator Specifications
| Indicator Name | ALTR Forex Trend Candlestick |
|---|---|
| Platform | MetaTrader 4 (MT4) |
| Type | Trend Visualization / Candle Coloring |
| Repainting | No |
| Inputs |
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Final Words
The ALTR Forex Trend Candlestick Indicator is a powerful visual tool for traders who rely on trend analysis.
It enhances your chart with clean, informative candle colors that help you read price action more effectively.
Whether you’re a scalper or swing trader, this MT4 indicator offers valuable insights into trend strength without the distraction of complex overlays.
