Big Candle Scanner Dashboard MT5

Enhance your trading strategy with the Big Candle Scanner Dashboard MT5, a versatile multi-asset dashboard designed to detect oversized bullish and bearish candles across numerous currency pairs and timeframes, signaling potential momentum shifts or volatility spikes. Rooted in classic candlestick analysis techniques popularized by traders like Steve Nison in the 1990s through his work on Japanese candlestick charting, this tool has become a staple for forex and crypto enthusiasts seeking to capitalize on significant price movements. It's widely used for identifying trend initiations, breakouts, or reversals in dynamic markets, where large candles often precede major trends—offering benefits like early entry opportunities, improved risk management by confirming high-volume moves, and reduced screen time through automated scanning, making it ideal for scalpers, day traders, and swing traders in forex pairs, indices, commodities like gold (XAUUSD), and cryptocurrencies such as BTCUSD.

The Big Candle Scanner Dashboard MT5 presents a customizable grid interface displaying real-time signals for big candles, marked by lime green arrows for bullish (up) and red arrows for bearish (down), with adjustable panel size, colors (e.g., header in sea green, symbols in steel blue), and text scaling for optimal visibility. It scans user-defined pairs (default includes majors like EURUSD, GBPUSD, and exotics) across all timeframes from M1 to MN1, applying multiple filters: candle size exceeding a multiplier of the average (default 1.5x over 14 periods), minimum pip size (default 20), volume surges (1.2x average over 14 periods), open-close difference (60% of high-low), body-to-wick ratio (1.5x), and ATR-based range (1.5x over 14 periods). Conditions can be set to match "any" or "all" for precision, with alerts via pop-ups, push notifications, or emails on new detections. Advantages include comprehensive market coverage without constant monitoring, confluence analysis across timeframes for stronger signals, and lightweight performance for multi-chart setups—non-repainting, highly customizable, and perfect for integrating into manual or semi-automated strategies.

Also available for MT4: Big Candle Scanner Dashboard MT4

Installation Guide for MQL Products | Updating Purchased MQL Products on MT4/MT5

Key Features

• Multi-Currency and Multi-Timeframe Scanning: Monitors all symbols (e.g., majors, minors, exotics, XAUUSD, BTCUSD) and timeframes (M1 to MN1, including MT5-specific like M2, H2) for big candle detections in one dashboard.
• Advanced Detection Conditions: Filters include candle size relative to average (multiplier 1.5, lookback 14), pip-based size (default 20 pips), volume confirmation (multiplier 1.2, lookback 14), open-close difference (60% threshold), body vs wick ratio (1.5x), and dynamic ATR range (multiplier 1.5, period 14)—enable "any" or "all" for tailored signals.
• Real-Time Visual Grid: Easy-to-read panel with colored arrows (lime green up, red down), customizable height/width (default 26%/50%), text size (1.2%), and colors for headers/symbols to suit your workspace.
• Confluence Timeframe Analysis: Scan multiple timeframes simultaneously or individually, highlighting aligned signals for higher-probability trades in trending or volatile conditions.
• Flexible Alert System: Terminal pop-ups, mobile push notifications, and emails (all default enabled) trigger on new big candles, ensuring timely responses without glued-to-screen monitoring.
• User-Friendly Customization: Adjust lookback periods, thresholds, and enable/disable specific conditions or timeframes; supports market watch symbols or custom lists for personalized scanning.
• High Efficiency and Compatibility: Lightweight code for smooth MT5 performance, scans last N candles (default 200), with arrow sizing (default 2) for clear chart overlays.
• Versatile Market Application: Excels in forex, crypto, stocks, and commodities for spotting momentum bursts, breakouts, or reversals with volume-backed confirmation.
• Signal Strength Indicators: Displays bullish/bearish types, occurrence times, and strength via color coding (red overbought, green oversold, gold neutral) for quick assessment.
• Resource-Optimized Design: Non-repainting signals, efficient for backtesting or live multi-pair monitoring, empowering beginners with simple inputs and experts with deep condition tweaks.

The Big Candle Scanner Dashboard MT5 is essential for traders aiming to harness candlestick anomalies for an edge in volatile markets. Its ability to scan broadly while filtering for meaningful large candles reduces false positives, provides actionable alerts, and supports diverse strategies, delivering consistent value in fast-moving trading environments.

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#tags big candle scanner dashboard mt5 multi timeframe scanner forex alerts volume confirmation breakout signals reversal detection candlestick analysis crypto commodities