Master Candle
- Indicators
- Version: 1.10
- Updated: 26 October 2026
Master Candle Pro automatically identifies Master Candles, also known as Mother Candles—candles whose price range contains several subsequent candles. It highlights these consolidation areas with clear boundaries and optional shaded boxes, helping you study potential breakouts and false-breakout patterns. Advanced AI tools had been used for the most accurate programming of this indicator.
Available for MetaTrader 4 and MetaTrader 5, the indicator combines adjustable Master Candle detection with bullish and bearish Fakey identification.
Master Candle Detection
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Adjustable minimum: Choose how many subsequent candles must fit inside the mother candle. The default is 3, excluding the mother candle itself. Set it to 1, 2 or more to suit your approach.
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Adjustable maximum: The default is 20 inside candles. Set the maximum to 0 to continue the consolidation through available history until containment ends.
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Full-candle or body-only containment: By default, both bodies and wicks must remain within the mother candle’s high–low range. Enable body-only containment to allow wick breaches while keeping candle bodies inside.
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Equal highs and lows: Choose whether candles touching the mother candle’s boundaries qualify.
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Nested setup filter: Optionally hide smaller formations contained within larger qualifying setups to reduce chart clutter.
Fakey Pattern Detection
A Fakey is a false breakout following an inside-candle consolidation: price breaches one side of the mother candle’s range, then closes back inside.
The indicator can identify bullish and bearish Fakey formations and display a clear label below or above the relevant candle.
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Fakey detection is enabled by default and can be switched off.
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It uses the same minimum inside-candle requirement as Master Candle detection.
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Fakey containment always checks the full candle range, including wicks.
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Adjust how many candles are allowed for the return inside the range.
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Optionally require a subsequent close beyond the opposite boundary for additional confirmation.
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Adjust the monitoring period and breach buffer in symbol points.
Ambiguous candles that breach both boundaries are excluded. When a consolidation reaches the configured maximum inside-candle limit, no subsequent Fakey is attached to that capped setup.
Appearance and Colour Schemes
Choose a coordinated palette from the first input:
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White background / blue lines: Blue boundaries with pale-blue shading.
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Black background / white lines: White boundaries with dark shading.
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White background / black lines: Black boundaries with light-grey shading.
The palette changes indicator colours without changing your chart background. You can override the upper boundary, lower boundary, shading and bullish/bearish label colours individually.
Additional controls include:
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Optional shaded boxes, enabled by default.
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Adjustable boundary width and solid, dashed or dotted styles.
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Adjustable boundary extension beyond the consolidation.
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Optional midpoint line.
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Optional MC and Fakey inscriptions, enabled by default.
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Adjustable label size and spacing.
Confirmation, Alerts and History
Completed-candle detection is enabled by default. An optional live-candle mode shows provisional formations that may change before the candle closes.
Popup and sound alerts can be enabled independently. Historical lookback and displayed-setup limits are adjustable, and multiple indicator instances can operate on the same chart.
Using the Indicator
Master Candle Pro provides a clear visual framework for studying consolidation boundaries, breakout attempts and false breakouts. It can complement your existing analysis with tools such as Ichimoku or moving averages.
Pattern labels identify defined price formations; they do not guarantee a successful trade. Live formations and nested-setup filtering can change what is displayed as new candles develop.
