The X Super Trend Candles indicator for Metatrader 4 consists of colored candlesticks and provides buy & sell trend direction.
The indicator appears as red and green colored candlesticks on the main MT4 chart.
In essence, a green colored candlestick is considered bullish, while a red colored candlestick is bearish.
Key Features
- Candlestick signal indicator
- Beginner friendly
- Works for any time frame
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a buy & sell trend confirmation tool.
Free Download
Download the “xSuperTrend Candles.ex4” MT4 indicator
Example Chart
The USD/JPY 5-minute chart below shows the X Super Trend Candles Forex indicator in action.
Basic Trading Signals
BUY:
- A buy signal occurs when the first green candlestick appears on the chart.
- Set stop loss below the previous swing low level.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- A sell signal occurs when the first red candlestick appears on the chart.
- Set stop loss above the previous swing high level.
- Exit the sell trade for a predetermined profit target or wait for a sell signal.
Download Now
Download the “xSuperTrend Candles.ex4” MT4 indicator
MT4 Trading Strategy: Wolfe Waves Scanner + X Super Trend Candle Confirmation
This strategy merges the pattern recognition power of the Wolfe Waves Scanner Indicator with the visual trend confirmation of the X Super Trend Candle Indicator.
The Wolfe Waves Scanner identifies high-probability reversal points based on Wolfe Wave formations, while the X Super Trend Candle confirms whether the trend is beginning to reverse or continue.
Strategy Overview
- Time Frame: 15-minute or 1-hour charts
- Best Pairs: EUR/USD, GBP/USD, USD/JPY, and other liquid pairs
- Indicators Used:
- Wolfe Waves Scanner Indicator (default settings)
- X Super Trend Candle Indicator (default settings)
Entry Rules
Buy Setup
- The Wolfe Waves Scanner detects a valid bullish Wolfe Wave pattern.
- Wait for the candle color to change from red to green using the X Super Trend Candle Indicator.
- Enter the buy trade at the close of the first green candle after the Wolfe Wave signal appears.
Sell Setup
- The Wolfe Waves Scanner detects a valid bearish Wolfe Wave pattern.
- Wait for the candle color to change from green to red using the X Super Trend Candle Indicator.
- Enter the sell trade at the close of the first red candle after the Wolfe Wave signal appears.
Trade Management
- Stop Loss: Set below the most recent swing low for buy trades, or above the swing high for sell trades.
- Take Profit: Use the projected target line (point 1 to point 4) from the Wolfe Wave structure as the main exit zone. Optionally, trail the stop with Super Trend color changes.
- Risk-to-Reward: Target a minimum 1:2 ratio for sustainable performance.
Customizable Parameters & Settings
Super trend period, trend multiplier, colors, style
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: Candlestick signals
FAQ
What visual cues does the X Super Trend Candles indicator for MT4 provide?
It colors the candlesticks directly on the chart. Green candles indicate bullish momentum and potential buy opportunities, while red candles highlight bearish momentum and potential sell opportunities.
How should I trade using the X Super Trend Candles indicator?
You can enter a buy trade when the first green candle appears, with a stop loss placed just below the recent swing low.
For sell trades, wait for the first red candle and set a stop loss above the previous swing high. Exits can be set at a profit target or when the candle color changes.
On which timeframes and pairs does the indicator work best?
The indicator is flexible and works on all timeframes and currency pairs. Many traders find it effective on 15-minute and 1-hour charts, especially during high market activity.
Final Thoughts
The X Super Trend Candles indicator for MT4 offers a straightforward way to visualize trend direction through color-coded candles.
Its simplicity makes it suitable for both new and experienced traders, and it can be used alone or in combination with other strategies.
For best results, test it on different pairs and timeframes, and always practice on a demo account before going live.
Combine it with trend filters or support and resistance analysis to confirm entries.
Effective money management and discipline remain essential to maximize the benefits of this tool.
