Candle Predictor MT5

Greetings friends, this is the updated version for the MT5 terminal.

This is my new product based on my first indicator, an enhanced version with streamlined settings, optimized specifically for Gold.

The indicator supports sending notifications.

Usage Recommendations:

  • Instrument - XAUUSD (primary, optimized for this asset)

  • Instrument - XAUEUR (secondary; it was not optimized for this asset, but I am pleased with the results)

  • Timeframe - H4.

  • Attach the indicator to your chart and leave it as is.

  • Buy Signal - Blue arrow.

  • Sell Signal - Red arrow.

  • It can be used as a primary source for identifying entry points.

  • Stop Loss: Indicated by yellow dots. It is highly recommended to follow them.

  • Usage Scenario: The indicator aims to predict the direction and close of the next candle. Therefore, when you receive a signal, your trade exit should be timed with the close of the signal candle (the one on which the arrow appeared).

  • Take Profit: The TP is discretionary, but it's better than nothing. If you are unsure where to set your take profit or close the trade, consider targeting the most recent high/low of a closed candle.

  • No frills.

Available Indicator Settings:

  • SL - A suggested Stop Loss, based on the ATR indicator. I recommend using this as a guide, as it performs well.

  • TP - A suggested Take Profit, also based on the ATR indicator.

  • TextFontSize - Font size for the text displayed on the chart.

  • Font_style - Font style for the text displayed on the chart.

  • btext, stext - Customize the signal text on the chart (e.g., you can change the default "Buy" and "Sell" text).

  • HISTORY BARS - The number of past bars on which signals will be displayed. I've set it to 50, which is sufficient and helps the indicator run faster.

  • CLOSE SIGNAL BAR - Set to 'true' to receive signals only on the open of a new bar. This can speed up calculations. Enable this option if your terminal is experiencing high load.

  • Alerts - Enables sound alerts in the terminal if set to 'true'.

  • PUSH - Sends push notifications to your mobile device if set to 'true'.

  • MAIL - Sends email notifications if set to 'true'.

  • TP_SIZE - Size of the TP marker.

  • LineFontSize - Size of the SL marker.

  • B_Color - Text color for the buy signal.

  • S_Color - Text color for the sell signal.

  • B_Line_Color - Color of the stop-loss line for a buy trade.

  • S_Line_Color - Color of the stop-loss line for a sell trade.

  • SL_ - Enable/Disable the dynamic SL.

  • TP_ - Enable/Disable the dynamic TP.


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