Momentum Candle MT 5

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

1. Calculate Body Size: Measures candle body in pips

2. Compare vs Threshold: Checks against ATR or manual threshold

3. Validate Body Ratio: Ensures body is dominant part of candle

4. Check Wick Ratio: Filters excessive wick candles

5. Apply EMA Filter: Optional trend validation

6. 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