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
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
How do you install the X Super Trend Candles Forex indicator in Metatrader 4?
- Copy and paste the xSuperTrend Candles.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
