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Using Consecutive Candles to Flag Directional Runs

Article MQL5 code base
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Summary

This note describes an indicator that marks a continuous run of candles moving in the same direction. It distinguishes bullish and bearish candles and identifies doji candles with a separate marker. An alert can notify the user when the run reaches a chosen candle count.

The described controls adjust marker font size and colors, enable or disable alerts, and set the run length that triggers an alert. The document provides no test results, trading rules, or evidence that such runs predict future returns. It explains a charting aid for spotting directional sequences; traders would need to evaluate its usefulness across instruments and timeframes and account for reversals or noisy price action.

Key ideas

  • The indicator marks consecutive candles that move in one direction.
  • It uses separate visual markers for bullish, bearish, and doji candles.
  • An alert can be configured to trigger after a specified run length.
  • The document does not report performance evidence or define an entry and exit strategy.

Tags

Technical indicatorsMomentum

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.