MangoFX Xmas Candles Indicator
- Индикаторы
- Версия: 1.0
- Активации: 5
MangoFX Xmas Candles Indicator
Product Description
The MangoFX Xmas Candles Indicator is a professional and unique market pattern analysis tool that visually identifies trend shifts using a proprietary candle coloring system. It transforms standard price action into an easy-to-read color-coded display, making trend-following decisions intuitive and immediate.
How It Works
The indicator detects Market Patterns—key turning points where bullish momentum transitions to bearish or vice versa. Based on the most recent pattern lines, it colors each completed candle either Green (bullish trend) or Red (bearish trend). The current forming candle is always displayed in Grey, indicating that its final color is not yet determined.
Best Scalping Timeframe: M1 (rrr 1:1), otherwise higher timeframes.
Key Features
· Instant Trend Visualization
Green candles = bullish market pattern. Red candles = bearish market pattern. No more guesswork.
· Smart Pattern Recognition
Uses a unique detection pattern with extension lines that project future reference levels.
· Dynamic Pattern Lines(in-built)
Automatically draws horizontal lines at key levels. Bulls are Green, Bears are Red.
· LH/HL Filter (Optional)
When enabled, only accepts Bullpattern occurring at Lower Highs and Bears at Higher Lows, filtering out low-probability signals.
· Customizable Alert System
Get notified when the trend changes from Red→Green (bullish reversal) or Green→Red (bearish reversal). Includes pop-up alerts and optional sound notifications.
· No Repainting
Completed candles are finalized and will never change color once closed. Only the current forming candle is Grey. This ensures backtest accuracy and live trading reliability.
· Clean Chart Display
Visual clutter is minimized. Patterns are drawn behind candles (back layer) so they don't obstruct price action.
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Input Parameters
Parameter Description
LookbackBars - Number of historical bars to scan for patterns (default: 500)
MaxHistoricalPatterns - Maximum number of MSS lines to display on chart (default: 100)
RequireLHHLFilter - When true, Bullpattern only draw at Lower Highs; Bearpattern only at Higher Lows
EnableAlerts - Master switch for all alerts (pop-up notifications)
AlertOnBull - Trigger alert when candles change from Red to Green (bullish signal)
AlertOnBear - Trigger alert when candles change from Green to Red (bearish signal)
EnableSound - Play a sound file when an alert triggers
SoundFileName - Name of the .wav sound file to play (e.g., "alert.wav")
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How to Use
1. Apply to any chart – Works on all timeframes and instruments
2. Wait for completed candles – Only fully closed candles receive Green/Red colors
3. Trade with the trend – Enter Buy on Green candles, Sell on Red candles (or use with the MangoFX XMAS EA for automated execution https://www.mql5.com/en/market/product/174827)
4. Watch for color changes – A switch from Red→Green suggests bullish momentum; Green→Red suggests bearish momentum
5. Enable alerts to receive real-time notifications when trends change
Compatibility
· MetaTrader 5 only
· Works with MangoFX XMAS EA – The EA reads this indicator's signals for automated trading
· Can be used standalone for manual trading or as a confirmation tool
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Example Usage Scenarios
Market Condition Indicator Display Suggested Action
Uptrend Consecutive Green candles - Look for Buy entries
Downtrend Consecutive Red candles - Look for Sell entries
Potential reversal Red→Green color change - Consider closing shorts, opening longs
Potential reversal Green→Red color change - Consider closing longs, opening shorts
Candle forming Grey candle - Wait for close to confirm trend
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Alert Messages Example
When a trend change occurs, you will see:
"MANGOFX XMAS: Trend changed from RED to GREEN (Bullish) at 2026.05.01 14:00 - Close: 1.23456"
"MANGOFX XMAS: Trend changed from GREEN to RED (Bearish) at 2026.05.01 14:00 - Close: 1.23456"
