Semaphore Identical Candles Buy/Sell Metatrader 4 Forex Indicator

The Semaphore Identical Candles buy/sell MT4 indicator provides trading signals in the direction of the bullish/bearish candlestick trend selected from multiple timeframe’s.

You can select them directly from the indicator’s input menu (from the 1-minute chart up to the monthly chart).

A buy signal arrow is generated on the chart when all candlesticks of the selected timeframe’s are bullish (up).

On the contrary, a sell signal arrow is generated on the chart when all candlesticks of the selected timeframe’s are bearish.

This indicator can be useful to generate short-term trading signals.

It’s a good idea to use it together with a longer term moving average such as the 100 period exponential moving average.

Free Download

Download the “Identical candles.mq4” MT4 indicator

Example Chart

The USD/CHF M5 chart below shows the Identical candles forex indicator in action.

Basic Trading Signals

Buy Trade: Go long at the blue arrow

Sell Trade: Go short at the red arrow

Tip: Use it together with a longer-term period trend following indicator and only trade in the direction of the longer-term period trend following indicator.

Download

Download the “Identical candles.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern indicator

Customization options: Variable (Only signal change, TF M1, TF M5, TF M15, TF M30, TF H1, TF H4, TF D1, TF W1, TF MN) Colors, width & Style.

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

Type: Trend following

Installation

Copy and paste the Identical candles.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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