Candle Spike Detector Pro
Overview
Candle Spike Detector Pro instantly identifies explosive price moves by comparing each candle's size to the average of the previous N candles. When a candle is significantly larger than normal — it's a spike, and the indicator marks it directly on your chart.
No more missed breakouts. No more guessing if a move is significant. The indicator does the math and shows you exactly where the explosive candles are.
How It Works
The indicator measures each candle's body (or range) and divides it by the average size of the previous candles (default: 10). The result is shown as a percentage:
- 100% = normal candle, same as average
- 200% = candle is 2x bigger than average — SPIKE detected
- 300%+ = strong spike, possible news event or institutional move
- 500%+ = mega spike, extreme volatility event
When a spike is detected, the indicator draws a colored box around the spike candle and the previous candle, creating a clear visual contrast.
Visual Markings on Chart
- Blue box = bullish spike (price shot up)
- Red box = bearish spike (price dropped)
- Text label shows spike type and percentage
- Box covers exactly two candles: the previous (quiet) candle and the spike candle
Histogram Panel
A separate subwindow shows a histogram where each bar represents the candle's size as a percentage of the average. Red dotted line = spike threshold. Gold solid line = 100% baseline.
Built-in Statistics Panel
Professional dark-themed panel shows real-time stats: spike threshold, comparison period, bull/bear spike counts, and biggest spike detected.
Built-in Help Guide
Press the [?] button for an interactive help panel with usage instructions and trading strategies.
Trading Strategies
- Breakout Confirmation — A spike after small candles confirms a breakout
- News Detection — Large spikes often coincide with news releases
- Pullback Trading — After a strong spike, price often pulls back to retest
- Volatility Filter — Only trade when histogram is below threshold
- Regime Change — Spike cluster after quiet period signals trend start
Features
- Automatic spike detection based on candle size vs moving average
- Visual chart markings with colored boxes around spike + previous candle
- Smart label placement based on trend direction
- Three measurement modes: Body size, Full range, or Combined
- Adjustable spike threshold (default 200% = 2x average)
- Separate histogram window showing candle size as % of average
- Real-time statistics panel with spike counts
- Built-in interactive help guide with trading strategies
- Popup alerts and mobile push notifications on new spikes
- Professional dark-themed UI with indicolab.com branding
Free Download
This indicator is free. To prevent unauthorized distribution, it is compiled individually for your MetaTrader 4 / MetaTrader 5 trading account. Register and provide your MT4/MT5 account number to receive a personalized file.