Momentum Candle MT 5
- Indicators
- Version: 1.0
Overview
Momentum Candle Detector V4 is a powerful and intelligent indicator designed to identify high-probability momentum candles across all timeframes and instruments. Built with advanced filtering technology, this indicator helps traders spot explosive price movements before they happen.
Key Features
Core Detection System
-
Universal Compatibility: Works on all pairs - Forex (EURUSD, GBPUSD, USDJPY, etc.), Gold (XAUUSD), Bitcoin (BTCUSD), and Indices
-
Multi-Timeframe Support: Optimized for M1, M5, M15, M30, H1, H4, D1, W1
-
Smart ATR-Based Threshold: Adaptive body size detection that adjusts to market volatility
-
Three Detection Modes: Aggressive, Normal, Conservative - choose your trading style
Advanced Filtering System
-
EMA Trend Filter: Optional trend validation using EMA on any timeframe (default: current chart)
-
Wick Validation: Filter out candles with excessive wicks (adjustable ratio)
-
Body Ratio Analysis: Ensures strong directional movement (configurable threshold)
-
Pair-Specific Settings: Custom pip thresholds for each instrument type
Visual Features
-
Colored Candle Bodies: Instantly spot momentum candles with highlighted colors (Blue for Bullish, Red for Bearish)
-
Arrow Signals: Clear buy/sell arrows below/above candles
-
Pip Size Labels: Shows exact body size in pips for each signal
-
Glow Effect: Optional outer glow for enhanced visibility
-
OHLC Tooltip: Hover over any candle to see complete price information
Auto Fibonacci Retracement
-
Automatic Drawing: Fibonacci levels automatically drawn on momentum candles
-
Interactive Control: Double-click on any signal arrow to toggle Fibonacci on/off
-
8 Key Levels: 0%, 23.6%, 38.2%, 50%, 61.8%, 78.6%, 100%, -27% extension
-
Color-Coded Lines: Soft colors for easy visualization
-
Custom Labels: Price and pip distance clearly marked
Statistics Dashboard (Optional)
-
Real-Time Stats: Total signals, Bullish/Bearish count, Average body size
-
Progress Bar: Visual representation of Bull vs Bear signals
-
Mode Display: Current candle and alert mode
-
EMA Filter Status: Shows active EMA settings
-
Threshold Info: Displays current detection threshold
-
6 Position Options: Place dashboard anywhere on chart (Top/Bottom × Left/Center/Right)
Multi-Channel Alert System
-
Three Alert Modes: Aggressive (5-60s), Normal (20-90s), Conservative (30-120s)
-
Four Alert Types:
-
Bar Close Confirmation (popup)
-
Push Notifications (to mobile app)
-
Email Alerts
-
Pre-Close Window Alert (adjustable timing)
-
-
Custom Sound Files: Different sounds for bullish and bearish signals
-
Smart Alert Management: Prevents duplicate alerts
Moving Averages Overlay (Optional)
-
4 Independent MAs: Fully customizable
-
All MA Methods: SMA, EMA, SMMA, LWMA
-
Individual Control: Enable/disable each MA independently
-
Custom Styling: Choose color, width (1-5), and line style (Solid, Dash, Dot)
-
Applied Price Options: Close, Open, High, Low, Median, Typical, Weighted
Input Parameters
MODE Settings
-
Candle Mode: Aggressive / Normal / Conservative
-
Alert Mode: Aggressive / Normal / Conservative
Wick Validation
-
Max Wick Ratio: Maximum allowed wick percentage (default: 30%)
EMA Trend Filter
-
Enable Filter: Toggle EMA trend validation
-
Timeframe: Choose EMA timeframe (default: CURRENT)
-
Period: EMA calculation period (default: 21)
Pair-Specific Thresholds
-
XAUUSD: M1 (15 pips), M5 (35), M15 (45), M30 (55)
-
Forex: M1 (5 pips), M5 (10), M15 (15), M30 (20)
-
BTCUSD: M1 (40 pips), M5 (80), M15 (120), M30 (160)
Visual Settings
-
Colored Bodies: Enable/disable candle coloring
-
Colors: Customize bullish/bearish colors
-
Opacity: Adjust body fill transparency (0-255)
-
Border & Glow: Toggle border and glow effects
-
Pip Labels: Show/hide pip size labels
-
Dashboard: Toggle statistics panel
-
OHLC Tooltip: Enable hover information
Auto Fibonacci
-
Enable: Toggle automatic Fibonacci drawing
-
Dashboard Info: Show Fibonacci details in dashboard
How It Works
Detection Algorithm
-
Calculate Body Size: Measures candle body in pips
-
Compare vs Threshold: Checks against ATR or manual threshold
-
Validate Body Ratio: Ensures body is dominant part of candle
-
Check Wick Ratio: Filters excessive wick candles
-
Apply EMA Filter: Optional trend validation
-
Generate Signal: Displays arrow, colored body, and Fibonacci
Signal Types
-
BULLISH SIGNAL: Blue arrow below candle (close > open)
-
BEARISH SIGNAL: Red arrow above candle (close < open)
Usage Scenarios
Scalping (M1, M5)
-
Use Aggressive Mode for maximum signals
-
Disable EMA filter for faster entries
-
Enable pre-close alerts (5-30 seconds)
Day Trading (M15, M30, H1)
-
Use Normal Mode for balanced signals
-
Enable EMA filter with H1 or H4 timeframe
-
Use 61.8% Fibonacci for entry targets
Swing Trading (H4, D1)
-
Use Conservative Mode for high-quality signals
-
Enable EMA filter with D1 timeframe
-
Use 50% and 38.2% Fibonacci for scaling in
System Requirements
-
Platform: MetaTrader 5
-
Account Type: Any (Demo, Live, Cent)
-
Instruments: All Forex, Gold, Bitcoin, Indices
-
Timeframes: M1, M5, M15, M30, H1, H4, D1, W1, MN1
