The Bull & Bear Candle Counter indicator for Metatrader 5 identifies a series of consecutive bullish and bearish candles and numbers them.
- A strong trend usually occurs when the number of consecutive bullish or bearish candles is high.
- A weak trend usually occurs when the number of consecutive bullish or bearish candles is low.
The following indicator inputs and parameters allows for customization: font size arrow, bull arrow candle, bear arrow candle, cross arrow candle, alerts, count candles.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the Bull & Bear Candle Counter indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Bull & Bear Candle Counter Indicator?
The candle counter indicator for Metatrader 5 doesn’t deliver any buy or sell trading signals.
Please combine with other technical indicators or with an existing trading system of your preference.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the mCandle_row.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration