About the Speed Candles Buy Sell Signal indicator
The Speed Candles Buy Sell Signal indicator for MT4 is a fast-reacting tool that highlights extreme bullish and bearish conditions in any currency pair.
It shows green and red bars in a small window on the chart, representing upward and downward pressure in the market.
The indicator is designed to identify strong trend movements, especially when readings reach extreme levels between 85% and 100%.
At these levels, the trend is considered highly likely to continue, providing timely entry opportunities for scalping or day trading.
Speed Candles works on all timeframes and can be used alone or alongside other technical tools such as oscillators, trend-following indicators, or price action methods.
Its fast signals allow traders to capitalize on short-term market momentum with precise timing.
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Download the “speed-candles-indicator.ex4” MT4 indicator
Key features
- Displays green and red bars indicating bullish and bearish pressure.
- Extreme readings between 85%–100% highlight strong trend conditions.
- Suitable for scalping and day trading on any timeframe.
- A compact window allows easy monitoring without cluttering the chart.
- Can be combined with other indicators for more robust trade entries.
Indicator chart
The image below shows the Speed Candles Buy Sell Signal indicator plotted in a small window on the chart.
Green bars indicate a strong upward trend while red bars signal a strong downward trend.
Extreme readings help identify optimal entry points.
Guide to trade with Speed Candles Buy Sell Signal indicator
Buy rules
- Open a buy trade when green bars reach extreme levels, between 85% and 100%.
- Enter the trade at the close of the extreme green bar.
- Focus on higher probability trades when multiple bars reach extreme simultaneously.
Sell rules
- Open a sell trade when red bars reach extreme levels, between 85% and 100%.
- Enter the trade at the close of the extreme red bar.
- Prioritize trades when multiple red bars are at extreme simultaneously.
Stop loss
- Set the stop loss beyond the nearest minor swing opposite to the trade direction.
- Use the average range of the last 3–5 candles to determine a dynamic stop level.
Take profit
- Close the trade when an opposite extreme bar appears.
- Optionally, use intermediate profit levels based on recent price swings.
- Scale out partial positions at earlier points for risk management.
- Use trailing stops to follow strong trends after the first TP level is reached.
MT4 Strategy: Speed Candles + Forex Buy Sell Indicator M1 Scalping Method
This MT4 scalping strategy combines the Speed Candles Buy Sell Signal Indicator and the Forex Buy Sell Indicator for rapid trading on the M1 chart.
The Speed Candles indicator signals overbought or oversold extremes with green and red bars, while the Forex Buy Sell Indicator confirms trend direction using blue arrows for bullish momentum and red arrows for bearish momentum.
Together, these indicators provide fast, high-probability scalping opportunities.
This method works best on highly liquid pairs such as EURUSD, GBPUSD, and USDJPY during London and New York sessions.
By combining extreme price bar levels with arrow trend confirmation, traders can capture quick intraday moves with low risk and small, consistent profits.
The strategy is ideal for scalpers who prefer multiple trades per hour and tight take profit targets.
Buy Entry Rules
- The green price bar from the Speed Candles indicator reaches extreme levels between 85% and 100%.
- A blue arrow appears from the Forex Buy Sell Indicator confirming bullish momentum.
- Enter the trade immediately once both conditions are met.
- Place a stop loss a few pips below the recent swing low.
- Take profit between 4 to 9 pips or when the arrow changes from blue to red.
Sell Entry Rules
- The red price bar from the Speed Candles indicator reaches extreme levels between 85% and 100%.
- A red arrow appears from the Forex Buy Sell Indicator confirming bearish momentum.
- Enter the trade immediately once both conditions are met.
- Place a stop loss a few pips above the recent swing high.
- Take profit between 4 to 9 pips or when the arrow changes from red to blue.
Advantages
- Fast and clear entries based on price extremes and trend confirmation.
- Small take profit targets allow multiple trades per session.
- Works on M1 for rapid scalping in highly liquid markets.
- Helps traders avoid counter trend trades by using arrow confirmation.
- Easy to follow, reducing decision-making stress on fast charts.
- Can be applied to major and cross pairs with high volatility.
Drawbacks
- High frequency of trades increases the potential for overtrading.
- Requires fast execution and discipline due to the short M1 timeframe.
- Stop loss placement is tight, so sudden spikes may cause occasional losses.
Case Study 1: EURUSD M1
During the London session, EURUSD showed a green Speed Candle at 90% extreme levels.
A blue arrow appeared on the same candle, confirming bullish momentum.
A buy trade was entered with a stop below the recent swing low.
Price quickly moved up and reached a 6 pip target before the arrow switched to red.
The trade captured a fast scalp with minimal risk.
Case Study 2: GBPUSD M1
GBPUSD formed a red Speed Candle at 88% extreme levels during the New York session.
A red arrow appeared simultaneously, confirming a bearish trend.
A sell trade was executed with a stop above the nearest swing high.
The price moved down 7 pips before the arrow flipped to blue, securing a quick scalp profit.
Strategy Tips
- Focus on major pairs during high liquidity sessions for the best scalping results.
- Maintain strict discipline with stop loss and take profit levels to manage risk.
- Quickly monitor multiple pairs using MT4 tabs or multiple charts to catch the best setups.
- Use the arrow color change as an exit signal to capture profits efficiently and safely.
Download Now
Download the “speed-candles-indicator.ex4” Metatrader 4 indicator
FAQ
How are extreme bars determined?
Extreme bars are readings between 85% and 100% on the Speed Candles indicator, signaling strong upward or downward momentum.
Can it be used as a standalone indicator?
Yes. Traders can use the extreme bar signals alone, though combining with trend indicators can improve trade accuracy.
Does it work for both scalping and day trading?
Yes. It is effective on all timeframes, making it suitable for scalping, intraday trading, or short-term swing trades.
Summary
The Speed Candles Buy Sell Signal indicator for MT4 provides quick, extreme-level signals that help traders enter strong bullish or bearish trends.
It is designed for scalping and day trading across any currency pair.
By showing extreme green and red bars, traders can act on short-term momentum with confidence.
Combining it with other tools or trend filters enhances its usability while keeping trade execution fast and precise.
