Elephant Power Candle
- Indicatori
- Luiz Augusto De Medeiros Pellegrini
- Versione: 1.2
- Attivazioni: 5
The Elephant Power Candle is a powerful and precise momentum indicator designed to highlight true explosive bars in the market — also known as Elephant Bars or Power Candles.
These candles often precede strong directional moves, making them crucial for trend continuation, breakout confirmation, and high-quality momentum entries.
This indicator provides clear visual signals, non-repetitive alerts, and a clean chart interface, helping traders execute with discipline, speed, and confidence.
Why Elephant Bars Matter
Elephant Bars represent moments when institutional volume and directional conviction create a candle significantly larger than the average.
Identifying these bars manually is difficult — the indicator automates this process with accuracy and consistency.
Main Features
• Automatic Buy & Sell Detection
The indicator identifies momentum candles using:
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Relative body size compared to previous candle bodies
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Directional structure (bullish or bearish)
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Adjustable strength multiplier
When a valid Elephant Candle is detected, the signal is displayed instantly on the chart.
• Clean and Intuitive Visual Signals
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Lime arrows for bullish Elephant Bars
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Magenta arrows for bearish Elephant Bars
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No repainting
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No lagging signals
• Configurable Sound Alerts (ON/OFF)
Receive an audio alert each time a new Elephant Candle appears.
Alerts can be enabled or disabled through an input parameter.
Adjustable Parameters
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Body Average Period: number of previous candles used for average body size
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Elephant Factor: multiplier defining how large a candle must be to qualify
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Sound Alert: enable/disable audio notification
Defaults are optimized for universal market conditions, and the indicator works immediately after installation.
Ideal For
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Momentum trading
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Trend continuation setups
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Breakout confirmation
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Volatility expansion patterns
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Swing trading, day trading, and scalping
Works on Forex, indices, commodities, futures, stocks, and cryptocurrencies across all MT5 timeframes.
Advantages Over Standard Momentum Tools
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Does not repaint
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No external dependencies
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Lightweight and extremely fast
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Objective, rule-based signal generation
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Works on all assets and timeframes
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Professional-grade consistency for discretionary and algorithmic traders
Important Notes
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The indicator does not execute trades; it only identifies high-probability momentum events.
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Fully compatible with Expert Advisors if you wish to automate the strategy yourself.
