Candle Count Binary Pattern

Candle Count Binary Pattern

? Description

Advanced indicator for MetaTrader 4 that identifies consecutive candle patterns and generates buy/sell signals with an optional moving average filter.

✨ Main Features

? Functionalities

• Pattern Detection: Identifies sequences of bullish or bearish candles

• Moving Average Filter: Option to filter signals using a moving average

• Visual Signals: Colored arrows indicating entry points

• Custom Alerts: Sound and visual notifications

• Intuitive Interface: Parameters organized by groups

?️ Configurable Parameters

? Main Settings

• Number of Candles: Number of consecutive candles required (1–10)

• Arrow Placement: Where to place the arrows (start or close of the candle)

? Moving Average Filter

• Filter Status: Enable/disable MA filter

• Period: Moving average period (2–200)

• Method: SMA, EMA, SMMA, LWMA

• Price: Close, Open, High, Low, etc.

? Visual Settings

• Arrow Distance: Arrow offset in points (1–100)

• Alerts: Enable/disable notifications

? How to Use

1. Installation: Copy the file CandleCounter.mq4 into the MQL4/Indicators/ folder in MetaTrader

2. Compilation: Compile the file in MetaEditor

3. Application: Drag the indicator onto the desired chart

4. Configuration: Adjust the parameters according to your strategy

? Working Logic

Pattern Detection

• Buy: Sequence of consecutive bullish candles

• Sell: Sequence of consecutive bearish candles

• Reset: Doji candles reset the count

Moving Average Filter

• Buy: Price above the moving average

• Sell: Price below the moving average

• Optional: Can be disabled for trading without a filter

Signal Generation

• Green arrows (?) for buy signals

• Red arrows (?) for sell signals

• Positioning configurable at the candle start or close

? Recommended Settings

By Timeframe

• M1–M5 (Scalping): 1–2 candles, MA 20

• M15–H1 (Day Trade): 2–3 candles, MA 50

• H4–D1 (Swing): 3–5 candles, MA 100

Usage Tips

• ✅ Test on demo account before real use

• ✅ Combine with other indicators for confirmation

• ✅ Adjust parameters according to the timeframe

• ✅ Use appropriate stop loss and take profit

• ✅ Monitor alerts so you don’t miss signals

? What’s New in v2.0

• ✨ Reorganized interface with groups and emojis

• ?️ Robust parameter validation

• ? Improved signal logic

• ? Enhanced alert system

• ? Clean and well-documented code

• ? Optimized performance

? License

Copyright 2025 - CandleCounter Indicator
All rights reserved.

Developed with ❤️ for traders seeking technical excellence