The free Candles Box Market Daily Session indicator for MT4 displays market volatility and daily trends with the help of colored backgrounds.
It provides you with some useful Forex market info:
- Market volatility for the day in pips.
- A colored box background tells you whether the market closed higher or lower.
You can fully customize the look of the indicator.
The mini window positioned at the left of the screen displays all market session info in text format.
Key Points
- A green colored box tells you that the market closed higher that day.
- A crimson colored box tells you that the market closed lower that day.
- Can be used to trade breakout signals above/below the previous day’s high/low box price.
Free Download
Download the “candles-box-session-indicator.ex4” MT4 indicator
Indicator Chart (GBP/USD H1)
The GBP/USD H1 chart below displays the 4 Sessions forex indicator in action.
Basic Trading Signals
There are no real trade signals from this indicator.
However, the Candles Box Daily Market Session MT4 indicator can be used to trade breakouts above or below the previous day’s high and low box prices.
Candles Box Daily Market Session + Trend Predictor v1.0 Forex Strategy for MT4
This strategy combines two powerful tools: the Candles Box Daily Market Session Forex Indicator and the Trend Predictor v1.0 Forex Indicator for MT4.
The Candles Box indicator paints each daily session as a colored box — green if the day closed higher, crimson if it closed lower.
The Trend Predictor prints arrows: blue for buy and red for sell.
Together, these indicators offer traders a simple yet effective way to align intraday entries with the dominant daily trend.
The approach works on all timeframes, but is most effective on the M15, M30, and H1 charts.
The idea is to trade only in the direction of the most recent daily box color and use the Trend Predictor’s arrows for precise entry timing.
Buy Entry Rules
- Wait for the current daily Candles Box to be green, indicating that the overall sentiment is bullish.
- Look for a blue arrow from the Trend Predictor v1.0 indicator signaling a buy opportunity.
- Enter a buy trade at the open of the next candle after the blue arrow appears.
- Place your stop loss below the recent swing low or below the lower boundary of the daily green box.
- Take profit can be set at a 1.5:1 or 2:1 reward-to-risk ratio, or when a red arrow appears, indicating potential trend change.
Sell Entry Rules
- Wait for the current daily Candles Box to be crimson, showing a bearish market close.
- Watch for a red arrow from the Trend Predictor v1.0 indicator confirming a sell signal.
- Enter a sell trade at the open of the next candle following the red arrow.
- Set your stop loss above the recent swing high or above the upper boundary of the crimson box.
- Take profit at a 1.5:1 or 2:1 reward-to-risk ratio, or when a blue arrow appears, suggesting a reversal.
Advantages
- Combines daily trend bias with intraday signal timing, reducing false trades.
- Visually intuitive — color boxes and arrows make setups easy to spot.
- Works across major pairs and timeframes, especially during trending market conditions.
- Encourages discipline by trading only in the direction of the higher timeframe bias.
- Clear entry and exit rules make it suitable for both beginners and experienced traders.
Drawbacks
- Trend Predictor arrows can repaint or lag in volatile conditions.
- Best used during active market sessions like London and New York for higher momentum.
- Stop loss placement may need adjustment for pairs with higher volatility, like GBPJPY or XAUUSD.
Example Case Study 1 – EURUSD H1
On EURUSD, the previous day closed bullish, forming a green Candle Box.
The Trend Predictor printed a blue arrow at 1.0860 during the London session.
A buy order was placed at 1.0862 with a stop loss at 1.0840 (22 pips) and a take profit at 1.0904 (42 pips).
The pair rallied steadily, reaching the target before the New York close, showing how aligning with the green box trend increased the probability of success.
Example Case Study 2 – GBPUSD M30
On GBPUSD, the daily box turned crimson after a bearish close.
The next day, during early London hours, a red arrow appeared at 1.2795.
A sell was placed at 1.2794 with a stop loss at 1.2810 (16 pips) and a target at 1.2760 (34 pips).
The market dropped sharply, hitting the target within two hours, confirming how following the crimson box trend gives strong short setups.
Strategy Tips
- Always confirm that the current daily box matches the direction of your trade — green for buy, crimson for sell.
- Avoid trading near major economic news releases to reduce whipsaws.
- Combine this system with support/resistance or moving averages for added confirmation.
- Use it during London and New York sessions when volatility supports cleaner moves.
- Keep a trade log to review how well daily trend alignment improves your win rate over time.
This Candles Box + Trend Predictor v1.0 strategy for MT4 blends simplicity and structure.
By respecting the daily market direction and confirming entries with intraday arrows, traders can capture consistent moves with lower risk and more confidence.
Test the method on a demo first, refine your stop and target sizes, and once confident, apply it on live charts for steady, trend-following results.
Download Now
Download the “candles-box-session-indicator.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Customization options: Variable (show pip values, display previous hours, show open and close), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Market session
