Big Candle Scanner Dashboard MT4
- Indicators
- Biswarup Banerjee
- Version: 3.0
- Updated: 21 May 2025
- Activations: 20
Elevate your trading strategy with the Big Candle Scanner Dashboard MT4, a powerful multi-asset dashboard engineered to identify oversized bullish and bearish candles across multiple currency pairs and timeframes, highlighting potential momentum shifts or volatility surges. Built on the foundation of classic candlestick analysis, popularized by Steve Nison in the 1990s through his pioneering work on Japanese candlestick charting, this tool is a go-to for forex and crypto traders aiming to seize significant price movements. Widely adopted for spotting trend initiations, breakouts, or reversals in fast-moving markets, large candles often signal major trends, providing benefits like early entry points, enhanced risk management through high-volume confirmation, and reduced screen time via automated scanning—perfect for scalpers, day traders, and swing traders across forex pairs, indices, commodities like gold (XAUUSD), and cryptocurrencies like BTCUSD.
The Big Candle Scanner Dashboard MT4 offers a customizable grid interface that displays real-time signals for significant candles, marked by lime green arrows for bullish (up) and red arrows for bearish (down), with adjustable panel dimensions, colors (e.g., sea green header, steel blue symbols), and text scaling for optimal readability. It scans user-selected pairs (default includes majors like EURUSD, GBPUSD, and exotics) across standard MT4 timeframes from M1 to MN1, employing multiple filters: candle size exceeding the average by a multiplier (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 delivered via pop-ups, push notifications, or emails on new detections. Key advantages include comprehensive market coverage without constant monitoring, timeframe confluence for stronger signals, and lightweight performance for multi-chart setups—non-repainting, highly customizable, and ideal for manual or semi-automated trading strategies.
Also available for MT5: Big Candle Scanner Dashboard MT5
Installation Guide for MQL Products | Updating Purchased MQL Products on MT4/MT5
Key Features
- Multi-Currency and Multi-Timeframe Scanning: Tracks all symbols (e.g., majors, minors, exotics, XAUUSD, BTCUSD) and standard MT4 timeframes (M1 to MN1) for big candle detections in a single 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: User-friendly 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 fit your workspace.
- Confluence Timeframe Analysis: Scans 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 constant 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 ensures smooth MT4 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 detecting 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 MT4 is a must-have for traders looking to leverage candlestick anomalies for a competitive edge in volatile markets. Its ability to scan broadly while filtering for meaningful large candles minimizes false positives, delivers actionable alerts, and supports diverse trading strategies, ensuring consistent value in fast-paced trading environments.
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#tags big candle scanner dashboard mt4 multi timeframe scanner forex alerts volume confirmation breakout signals reversal detection candlestick analysis crypto commodities
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