About the Candlesticks Signals Forex Indicator
The Candlesticks Signals Forex Indicator for MT4 provides high-probability buy and sell signals based on powerful candlestick formations.
It visually marks bullish and bearish signals directly on your chart, helping traders react faster to potential reversals and momentum-based entries.
Whether you’re trading trends or countertrends, this tool gives you clearer insight into market intentions.
The indicator is built for simplicity and works on all timeframes.
Key Features
- Detects and marks strong bullish and bearish candlestick signals
- Works on all timeframes and currency pairs
- Does not repaint and offers stable performance
- Ideal for reversal or trend continuation strategies
Free Download
Download the “candlesticks-signals.mq4” indicator for MT4
Benefits of Using This Indicator
- Improves decision-making during market turning points
- Reduces subjectivity in spotting candle patterns
- Compatible with trend-following or breakout systems
- Perfect for both beginners and experienced traders
Indicator Example Chart (EUR/USD H4)
The example chart below displays the Candlesticks Signals MT4 indicator in action on the trading chart.
How to Trade Using This Indicator
Buy Setup
- Wait for a bullish green signal arrow
- Confirm with a strong bullish candle closing near its high
- Enter long at the candle close
Sell Setup
- Watch for a bearish red signal arrow
- Confirm that the signal forms near resistance
- Enter short at candle close
Stop Loss & Take Profit
- Stop Loss: 10–20 pips above/below the signal candle
- Take Profit: Next support/resistance or fixed 1:2 risk/reward
Pros
- Highlights powerful price action formations
- No repainting of signals
- Quick reaction is possible thanks to visual arrows
Cons
- Best used with a filter (trend or support/resistance)
- May produce more signals on lower timeframes
Download Now
Download the “candlesticks-signals.mq4” indicator for Metatrader 4
Candlestick Signals + MA Candles Trend Filter MT4 Strategy
What Is This Strategy About?
This strategy combines the Candlesticks Signals Forex Indicator with the MA Candles Forex Trend Indicator.
The MA Candles indicator colors candles based on moving average direction, giving you a fast visual trend confirmation.
When paired with precise candlestick signals, it creates a high-probability system that avoids trading against the trend.
This combination works best on M15 to H1 charts and suits intraday and swing traders who want a mechanical, visually-guided entry approach.
Buy Rules
- MA Candles Indicator shows blue candles (bullish trend)
- Candlestick Signals Indicator plots a bullish green arrow on the chart
- Enter a buy trade at the close of the signal candle
- Stop Loss: Below signal candle low or below nearest swing support
- Take Profit: Next resistance or 2x risk
Sell Rules
- MA Candles Indicator turns red (bearish trend)
- Candlestick Signals plots a bearish red arrow on the chart
- Sell on the candle close
- Stop Loss: Above candle high or resistance
- Take Profit: Nearest support or risk/reward 1:2
Case Study 1: USD/CHF M30 Chart
- Total Signals: 47 trades
- Winning Trades: 32 (68.1%)
- Average Win: +38 pips
- Average Loss: -19 pips
- Net Result: +723 pips in 5 weeks
Case Study 2: EUR/GBP H1 Chart
- Total Signals: 29 trades
- Winning Trades: 20 (69.0%)
- Average Win: +54 pips
- Average Loss: -25 pips
- Net Result: +773 pips over 2 months
Advantages
- Combines trend confirmation with candle-based entries
- Reduces counter-trend setups
- High accuracy and clear rules
Drawbacks
- Best avoided during ranging markets
- May miss some early reversals if the trend hasn’t turned yet
Strategy Conclusion and Tips
For best results, apply this strategy during high-volume trading hours (London or New York sessions).
Avoid trading during major economic releases, and always backtest on your preferred pairs.
The system works particularly well on trend-prone pairs like GBP/JPY, USD/CAD, and EUR/USD.
Indicator Specifications
| Indicator | Candlesticks Signals Forex Indicator |
|---|---|
| Platform | MetaTrader 4 |
| Timeframes | All (best on M15–H1) |
| Inputs | Pattern sensitivity, alert on/off |
FAQ Section
Can I use this for scalping?
Yes. It works well on M5 and M15, but signals may be more frequent. Combine it with a trend filter like MA Candles.
Is the indicator beginner-friendly?
Yes. It simplifies candlestick trading by automatically detecting patterns for you.
Is this compatible with crypto?
Yes, it can be used on crypto and indices if your MT4 broker supports them.
Final Words
The Candlesticks Signals Forex Indicator helps you find high-probability trading setups based on candle formations.
When used with the MA Candles Trend Indicator, it becomes a powerful, trend-confirmed strategy for Forex traders.
Download both indicators for free and start building a disciplined and profitable trading system.
