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Consecutive Candlesticks With Stochastic Metatrader 4 Forex Indicator

    The Consecutive Candlesticks With Stochastic MT4 forex indicator identifies consecutive high and low candlesticks.

    The indicator draws green and red dots together with a Stochastic filter in a separate Metatrader 4 window.

    A green dot is a buy signal while a red dot is a sell signal.

    The Stochastic filter oscillates between two extremes, 0 and 100.

    The 0 value is said to be extremely oversold while the 100 value is said to be extremely overbought.

    Like almost any other trading oscillator, it is highly recommended to use the Consecutive Candlesticks oscillator together with a trend following indicator.

    Trade the Consecutive Candlesticks oscillator signals in the direction of the underlying trend to increase the success rate of your forex transactions.

    Trend up? Trade the green dots.

    Trend down? Trade the red dots.

    This indicator fits scalping and intraday trading.

    Free Download

    Download the consecutive-candles-with-stochastic-filter-indicator.mq4” MT4 indicator

    Example Chart

    The EUR/USD Daily chart below displays the Consecutive Candlesticks With Stochastic Forex Metatrader 4 indicator in action.

    Basic Trading Signals

    Signals from the Consecutive Candlesticks with Stochastic MT4 forex indicator are easy to interpret and goes as follows:

    Buy Signal: Open buy order when a green dot appears on the chart and the underlying trend is up.

    Sell Signal: Open sell order when a red dot appears on the chart and the underlying trend is down.

    Trade Exit: Use your own method of trade exit.


    Download the consecutive-candles-with-stochastic-filter-indicator.mq4” Metatrader 4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: Chart pattern indicator

    Customization options: Variable (Type of trade arrows? Trend or Range, KPeriod, Slowing, DPeriod, MAMethod) Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: Oscillator Signals


    Copy and paste the consecutive-candles-with-stochastic-filter-indicator.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL4 > Indicators (paste here)

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