Mistral Trend Candles Indicator
Info
The Mistral Trend Candles Indicator is a Indicator for MetaTrader 4 that mistral trend candlesthis indicator displays candles colored to represent confirmed market trends. - Green: Indicates a confirmed uptrend.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Mistral Trend Candles Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Mistral Trend CandlesThis indicator displays candles colored to represent confirmed market trends.
Typical Use Case
This Indicator excels in trend following on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: Mr. Wave: Market Trend Visualization - another powerful indicator for MetaTrader 4 traders.
Mistral Trend CandlesThis indicator displays candles colored to represent confirmed market trends.
Also recommended: Pin-Point Trend Following Strategy - similar indicator with strong performance on MetaTrader 4.
- Green: Indicates a confirmed uptrend. This is determined by the Hull Moving Average slope being above a specified threshold and the ADX (Average Directional Index) being in a trend regime.
- Red: Indicates a confirmed downtrend, determined by similar criteria for downward movement.
- Weak/Lateral Conditions: When the market is not trending strongly, the candles retain the color of the last confirmed trend. This ensures the chart consistently shows clean green or red zones, simplifying trend identification.
- Non-Repainting: Once a candle has closed, its color will not change. Only the currently forming candle may update its color until it closes.
- Display: The trend candles are drawn as chart objects layered on top of the standard price candles, completely covering them.
- Recommended Settings: For faster timeframes (M1-M5), consider reducing the `ADX_TrendMin` setting to between 18 and 19. For higher timeframes, you may want to increase this value. The `HMA_Period` and `Slope_MinATR` parameters can be adjusted to control the indicator's responsiveness.
You may also like: ATR Trend-Following Trading System - excellent alternative for indicator users on MetaTrader 4.
Source Code
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#property copyright "RobotFX"
#property version "1.10"
#property strict
#property indicator_chart_window
extern int HMA_Period = 16;
extern double Slope_MinATR = 0.06;
extern int ADX_Period = 14;
extern double ADX_TrendMin = 20.0;
extern int ATR_Period = 14;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.