Candlestop 2 Metatrader 4 Forex Indicator

The Candlestop 2 Metatrader 4 indicator can be used to confirm trade entries and exits.

The indicator consists of 2 lines that fluctuate above or below the currency pair price.

In strong trends, the price is aligned above or below the two Candlestop lines (purple & green).

  • During strong up trends, price is aligned above the purple and the green line.
  • During strong down trends, price is aligned below the green and the purple line.

Use together with other indicators or analysis tools to built a complete trading system or strategy.

The indicator can be applied to any currency pair and timeframe.

Free Download

Download the candlestop2.mq4” MT4 indicator

Example Chart

The GBP/USD D1 chart below displays the Candlestop 2 forex indicator in action.

Basic Trading Signals

No trading signals from this indicator.

Download

Download the candlestop2.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern

Customization options: Variable (TrailPeriods) Colors, width & Style.

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

Type: Overlay

Installation

Copy and paste the candlestop2.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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