Candle Painter can be found within the MQL5 marketplace, there may be other indicators with similar names to so avoid andy confusion we have added a link to the indicator that we are looking at. Benjamin Nicola first uploaded the indicator on the 15th of January 2016, it was updated on the 26th of July 2016 and it is currently at version 1.3.
Overview
The Candle Painter is an indicator for the MetaTrader 4 trading platform, it contains a number of different indicators that can help you follow the trend of colored candles and to get alerts for overbought and oversold currencies.
You are able to select from a number of different indicators including RSI, CCI, MACD Histogram Level, MACD Main vs Signal line, OsMA, Stochastic Level, Stochastic Main vs Signal line, Williams’ Percentage Range, Momentum, DeMarker, Force Index, 2MAs, and RVI.
Service Cost
The Candle Painter indicator currently costs $25 to purchase it outright with no limitations, you are also able to rent it on a monthly basis, this will cost you $10 per month to do so. There is a free demo version, but the details of the free version are not known, there will be some limitations but it could still be worth downloading to test out.
Conclusion
Just the one review available giving the indicator a rating of 5 out of 5.
“Excellent indicator to implement their own strategies Only waiting that Ben updates indicator with suggestions I gave him a long time ago. Come on Ben 🙂 UPDATE Great job with the 1.2 very important option to set own strategy select more indicators, also including the signal alignment % to trigger. Ben is always ready to accept suggestions and new ideas to implement indicator to make it even more powerful. For those working with the trend is a must-have !!!!!! Great job. I confirm 5 stars and more if could be possible 🙂 Fab.“ – A 5-star review.
The one available review is very positive, there are also a number of comments, the developer has been replying to the majority of them quite quickly which shows that they are still actively supporting the indicator. Be sure to try out the demo version and contact the creator with any questions, that way you can be sure that you will be getting an indicator that does what you need it to and that you can get working before you make a purchase.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13987
