Candles Trend Indicator
Candle Trend Indicator is a simple and intuitive filter on the Veles platform that tracks the strength of the current impulse through a sequence of candles of the same color (direction).
It counts how many consecutive green or red candles have closed and generates an entry signal once the specified number is reached.
The indicator is especially useful in trend-following strategies and on the crypto market, where strong impulsive moves are often accompanied by series of unidirectional candles.
How the Candle Trend Works
Section titled “How the Candle Trend Works”- For long entry — counts consecutive green candles (close > open).
- For short entry — counts consecutive red candles (close < open).
Example of long signals for a filter with period 4:
If the Reverse signal option is enabled:
- Long — signal is generated after a series of red candles (anticipating an upward reversal after a downward impulse).
- Short — signal appears after a series of green candles (anticipating a downward reversal after an upward impulse).
This turns the indicator into a counter-trend tool — catching pullbacks after a strong move.
Important calculation features:
Empty candles (close = open, no price change) are not counted in the sequence and do not reset the counter.
The counter resets as soon as an opposite-color candle appears.
Indicator Settings in Veles
Section titled “Indicator Settings in Veles”- Period (number of consecutive candles) — from 2 to 10 or 15. The higher the value, the rarer but stronger and more reliable the signals.
- Reverse signal — on / off (off by default — trend mode).
- Timeframe — any available timeframe.
It is recommended to use with calculation type “At bar closing”.
Calculation “Once per minute” may produce false signals.
Usage Examples
Section titled “Usage Examples”Trend-following strategy:
- Period: 5 candles
- Reverse filter: off
- Timeframe: 15 minutes
The bot enters long after 5 consecutive green candles — a signal of a strong bullish impulse.
Counter-trend strategy (with reverse filter):
- Period: 7–8 candles
- Reverse filter: on
- Timeframe: 5–15 minutes
Long after 7–8 consecutive red candles — expecting sellers to exhaust and an upward reversal.
Combinations with other filters:
- Candle Trend 4 + RSI < 30 (long in oversold after a downward impulse).
- Candle Trend 6 + ATR% > 1.5% (entries only during high-volatility moments).
- Candle Trend 5 + EMA 100 filter on higher timeframe (entries only in the global uptrend).
Display on TradingView
Section titled “Display on TradingView”The indicator is not visually drawn on the TradingView chart (no lines, arrows, labels, or background).
When clicking “Calculate” in the bot configurator, TradingView displays entry labels (bot signals).
Why Candle Trend Is Useful in Crypto Trading
Section titled “Why Candle Trend Is Useful in Crypto Trading”The crypto market often produces clear impulses — sequences of 4–8–10 candles in one direction regularly occur before pullbacks or trend continuations.
The indicator helps:
- Enter strong trends on impulse confirmation (standard mode).
- Catch reversals after excessive one-sided moves (Reverse signal option).
- Filter out flat periods where candles alternate frequently and sequences do not build up.
The Candle Trend Indicator is one of the simplest yet most effective ways to filter weak moves and catch real impulses or reversals in crypto.
It suits both beginners (due to its straightforward logic) and experienced traders for fine-tuning aggressive or conservative strategies.