XANDER Pulse Candles

Indicators MetaTrader 5 Free

The candles themselves carry the momentum reading, so there is no oscillator window to look at. On Gold (XAUUSD), forex or indices, each bar is colored by combining two things: the direction of its body and the state of a 14 period RSI. A bullish candle with bullish momentum is bright green, a bearish candle inside bullish momentum is blue, the mirror pair is red and orchid, and anything without a clear momentum state is gray.

Three modes decide what bullish or bearish momentum means. Momentum vs Center compares RSI with 50. Momentum vs Extremes only colors when RSI is above the upper zone or below the lower zone, so the chart stays gray most of the time and lights up at extremes. Momentum Direction compares each RSI value with the previous one and colors by whether momentum is rising or falling.

It recalculates only the bars that changed and copies the RSI buffer once per pass, so it is light enough to stay on every chart. It reads context, it does not give entries. A blue candle in a green run is a pullback inside bullish momentum, not a sell signal, and that is exactly what it is meant to show.

Update v1.3 (October 2026): header and documentation rewritten, link to my MQL5 channel for updates, empty trailing separator removed from the inputs. Coloring logic unchanged.

Settings

  • Coloring Mode: Momentum vs Center Line, Momentum vs Extreme Zones or Momentum Rising or Falling.
  • Momentum Period: RSI period, default 14.
  • Applied Price: price fed to the RSI, close by default.
  • Upper Extreme Zone and Lower Extreme Zone: thresholds used by the Extremes mode, 70 and 30 by default. Values are clamped so the lower zone always stays below the upper one.

How to install

Download the .mq5 file, open MetaEditor (F4 in MetaTrader 5), place it in MQL5Indicators and compile it with F7. It then appears in the Navigator under Indicators, drag it onto the chart. It is drawn as colored candles on top of your chart, and it works best when your own candles are set to the same color as the background or when the chart is on a dark scheme. The indicator cleans the chart on load and restores your settings when removed.

Make it yours

The momentum source is one handle, iRSI, so swapping it for Stochastic, CCI or your own oscillator is a two line change. The color index buffer is a normal buffer, which means an EA can read the bias with iCustom and use it as a filter. Try it on XAUUSD M5 and M15 for scalping context and on H1 and H4 for swing bias, on EURUSD, GBPUSD, US30 or NAS100, and pair it with Smart Money Concepts structure or support and resistance levels to time entries.

About this code

Open source. Use it as it is, adapt it, build your own version on top of it. New versions and new tools are announced first on my MQL5 channel: https://www.mql5.com/en/channels/xander. Questions, suggestions and your own backtests are welcome in the Xander Lab group: https://www.mql5.com/en/messages/02eec85e4364dd01. More tools on my profile: https://www.mql5.com/en/users/09151993a

Related: XANDER Adaptive Cross, XPro Trade Panel, Basket Pair Closer.

Changelog

v1.3 (2026-10-25): documentation and header update, MQL5 channel link, trailing separator removed.
v1.2 (2026-04-11): contact links removed from the inputs.
v1.1 (2026-04-11): Electric Depth palette, five state coloring.
v1.0 (2026-04-11): initial release.

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