MCandle - multi timeframe candles and price action context (MT4)

MCandle overlays higher timeframe candles and price action context on your chart so you can see structure, momentum and liquidity sweeps without switching charts in MetaTrader 4. Depending on the build it can plot HTF candles, body wick stats, engulfing and inside bars, color flips and alerts.

What it shows

• HTF candles: one bar summarises the higher timeframe - body direction, range and wicks.
• Body to wick ratio: momentum strength and exhaustion hints.
• Key patterns: engulfing, inside bars, pin bars and range breaks.
• Bias coloring and optional alerts on pattern detection.

Trade ideas

1. HTF alignment: only take entries with the higher timeframe candle direction and close.
2. Pullback to HTF levels: use HTF highs lows opens to time pullbacks and stop placement.
3. Breakout with context: require an engulfing close or inside break in HTF direction.
4. Multi TF: H4 D1 for bias, M5 M15 for execution with pattern plus level confluence.

Inputs that matter

• Higher timeframe to project.
• Candle style and opacity.
• Pattern set to scan and alerts.
• Colors for bullish and bearish states.

Suggested usage

• M5-M15: intraday entries with HTF context.
• M30-H4: swing timing and breakout checks.
• Daily+: regime classification and levels.

Installation (MT4)

1. Open MetaTrader 4 - File - Open Data Folder.
2. Copy M candle.ex4 to MQL4/Indicators.
3. Restart MT4 or refresh Navigator and attach MCandle.
4. Adjust inputs - OK.

FAQ

Does it repaint? No on closed bars.
Works with any symbol? Yes.
Use in EAs? Yes, via iCustom.

Disclaimer: Always test on a demo first - risk management matters.