About the Forex Next Candle Predictor Indicator
The Forex Next Candle Predictor Indicator for MT4 is a short-term forecasting tool designed to anticipate upcoming price movement.
As the name suggests, it predicts the next two candlesticks and plots them directly on the chart.
This allows traders to visualize potential price direction before it happens.
The indicator is handy for traders who rely on timing and market anticipation rather than lagging signals.
The predictor appears in the main Metatrader 4 chart window as two blue candlesticks projected ahead of the current price.
These forecast candles give a directional bias that can be used for scalping or short-term intraday trading.
Instead of reacting late to price movement, traders can prepare entries with more confidence and better positioning.
Free Download
Download the “forex-candle-predictor.ex4” indicator for MT4
Key Features
- Forecasts the next two candlesticks on the chart
- Displays projected blue candles in the main MT4 window
- Helps anticipate short-term bullish or bearish direction
- Suitable for scalping and intraday trading
- Works across multiple timeframes and currency pairs
Indicator Chart
The chart below shows the Forex Next Candle Predictor Indicator applied to an MT4 price chart.
The two blue candlesticks represent the projected next candles.
When they form above the current price, bullish pressure is expected.
When they form below price, bearish continuation is more likely.
Guide to Trade with the Forex Next Candle Predictor Indicator
Buy Rules
- Wait for the two blue forecast candlesticks to appear above the current price
- Open a buy trade at the start of the next candle
Sell Rules
- Wait for the two blue forecast candlesticks to appear below the current price
- Open a sell trade at the start of the next candle
Stop Loss
- Place the stop loss 2-3 pips below the recent swing low for buy trades
- Place the stop loss 2-3 pips above the recent swing high for sell trades
- Keep stops aligned with the timeframe being traded
Take Profit
- Target the next intraday support or resistance level
- Use a fixed risk-to-reward ratio such as 1:1.5 or 1:2
- Close trades early if forecast candles flip direction
Practical Tips
- Use the indicator on M5 to H1 timeframes for more stable forecasts
- Combine the forecast with basic trend direction from a higher timeframe
- Do not enter trades late if price has already moved far from the forecast
- Focus on liquid pairs such as EUR/USD or GBP/USD
- Practice on a demo account to understand how forecast candles behave
Intraday Scalping Strategy: Next Candle Predictor & Coron MT4 Indicators
This intraday scalping strategy combines the predictive power of the Next Candle Predictor with the trend phase detection of the Coron MT4 Indicator.
Designed for active traders, this approach aims to capture short-term price movements by anticipating the direction of the next candle and confirming the prevailing market trend.
It is particularly effective on 5-minute and 15-minute charts across various currency pairs.
Buy Entry Rules
- Enter a buy trade when the Next Candle Predictor indicates two consecutive blue candles above the current price, signaling a potential upward movement.
- Confirm the bullish trend with the Coron MT4 Indicator displaying a green block, indicating a strong bullish phase.
- Place a stop loss just below the most recent swing low to protect against unexpected reversals.
- Set a take profit target at a 1:1.5 risk-to-reward ratio or exit when the Coron MT4 Indicator shifts to a yellow or red block, indicating a weakening trend.
Sell Entry Rules
- Enter a sell trade when the Next Candle Predictor indicates two consecutive red candles below the current price, signaling a potential downward movement.
- Confirm the bearish trend with the Coron MT4 Indicator displaying a red block, indicating a strong bearish phase.
- Place a stop loss just above the most recent swing high to limit potential losses.
- Set a take profit target at a 1:1.5 risk-to-reward ratio or exit when the Coron MT4 Indicator shifts to a yellow or green block, indicating a weakening trend.
Advantages
- Combines predictive signals with trend confirmation to increase the probability of higher-quality trades.
- Adaptable to various currency pairs and timeframes, offering flexibility for traders.
- Clear entry and exit points reduce decision-making time and enhance trading efficiency.
- Effective in capturing short-term price movements, suitable for scalping strategies.
Drawbacks
- Requires active monitoring of charts to manage trades effectively.
- False signals may occur during sideways or choppy market conditions.
- Not suitable for traders preferring long-term or automated trading strategies.
- Spread and slippage can impact profitability, especially on lower timeframes.
Case Study 1: EUR/USD 5-Minute Chart
At 10:15 AM, the Next Candle Predictor indicated two consecutive blue candles above the current price, suggesting a potential upward movement.
The Coron MT4 Indicator confirmed a strong bullish trend with a green block.
A buy trade was executed at 1.1205 with a stop loss at 1.1195 and a take profit target at 1.1220.
The trade reached the take profit level within 25 minutes, yielding a 15-pip profit.
Case Study 2: GBP/USD 15-Minute Chart
At 2:30 PM, the Next Candle Predictor indicated two consecutive red candles below the current price, suggesting a potential downward movement.
The Coron MT4 Indicator confirmed a strong bearish trend with a red block.
A sell trade was executed at 1.3100 with a stop loss at 1.3110 and a take profit target at 1.3085.
The trade reached the take profit level within 45 minutes, yielding a 15-pip profit.
Strategy Tips
- Utilize a low spread broker to minimize trading costs, especially on short-term trades.
- Avoid trading during major economic news releases to reduce volatility risk.
- Always wait for both the Next Candle Predictor and Coron MT4 Indicator to align before entering a trade.
- Consider using additional indicators, such as RSI or MACD, for further confirmation of trade signals.
- Practice proper risk management by risking only a small percentage of your trading capital per trade.
Download Now
Download the “forex-candle-predictor.ex4” indicator for Metatrader 4
FAQ
Does the indicator predict exact price levels?
No, it predicts directional movement rather than exact highs or lows.
The forecast candles are best used as a directional guide.
Can it be used for scalping?
Yes, many traders use it for short-term scalping on lower timeframes.
It performs best when market conditions are stable.
Does the forecast update in real time?
The projected candles update as new price data comes in.
Traders should wait for candle close confirmation before entering.
Summary
The Forex Next Candle Predictor Indicator for MT4 offers traders a unique way to anticipate short-term price direction.
By projecting the next two candlesticks, it helps improve timing and trade planning.
The indicator is easy to read, visually intuitive, and works well across different markets.
For stronger results, traders often combine it with a trend or momentum indicator as confirmation.
Used with proper risk management, it can become a valuable forecasting tool in a disciplined trading approach.
