Setup & First Steps
Power Candles colors your candlesticks based on real-time strength data from FX Power NG (for forex) or IX Power (for indices, metals, crypto).
Requirements: FX Power NG and/or IX Power must be licensed and installed.
Setup:
- Ensure FX Power NG or IX Power is active on your terminal
- Attach Power Candles to any chart
- Wait for "Loading..." to finish (5-30 seconds, needs 20+ valid data points)
- Candles start coloring automatically
The Color Scale
Power Candles uses a 9-step color gradient:
| Color | Meaning |
|---|---|
| Dark Red (2 levels) | Strong to extreme bearish momentum |
| Light Red (2 levels) | Light to medium bearish |
| Gray | Neutral - no clear momentum |
| Light Green (2 levels) | Light to medium bullish |
| Dark Green (2 levels) | Strong to extreme bullish momentum |
For Forex pairs, the color is based on the Delta (strength difference between the two currencies). For indices/metals/crypto, it's based on the raw IX Power strength value.
Key Parameters
Threshold Groups
Separate thresholds for Forex (0-100 Delta scale) and IX instruments (0-50 Strength scale):
Forex Thresholds:
| Parameter | Default | Effect |
|---|---|---|
| NeutralZone | 10 | Values within this zone show as gray |
| LightThreshold | 20 | Transition to light color |
| MediumThreshold | 35 | Transition to medium color |
| StrongThreshold | 55 | Transition to strong/extreme color |
| MinDeltaChange | 20 | Minimum delta change for momentum arrows |
IX Thresholds follow the same pattern but with lower defaults (5, 12, 20, 30, 10) since IX Power's scale is -50 to +50.
Calculation Mode
FXP_CALCULATION_MODE (default: H8) - Must match your FX Power NG settings for consistent signals.
Momentum Arrows
Arrows appear at significant transitions in strength. Configure which transitions trigger arrows:
- Strength Increase (default: on) - Arrows when strength jumps a level
- Direction Flip (default: off) - Arrows when bull/bear direction changes
- Neutral Exit (default: off) - Arrows when leaving the neutral zone
- Arrow size: 1 (small), 2 (medium, default), 3 (large)
Tip: Increase MinDeltaChange for fewer but more significant arrows.
The Panel
Shows a compact status badge:
- Current state: NEUTRAL, BULL LIGHT/MED/STRONG/EXTR, BEAR LIGHT/MED/STRONG/EXTR
- Delta/Strength value (current vs. last closed candle)
- Calculation mode and bars count
Panel shows "Delta" for Forex (difference between two currencies) and "Strength" for non-Forex (single instrument strength).
Alert Types
| Alert | Default | Trigger |
|---|---|---|
| Strength Increase | On | State transitions upward in intensity |
| Return to Neutral | On | State returns to neutral zone |
| Neutral Exit | Off | Leaves neutral zone |
| Direction Flip | Off | Bull/bear reversal |
| Arrow Drawn | On | Any momentum arrow appears |
Alerts fire on state change only, not continuously.
Practical Tips
- Don't set thresholds too tight: Very small NeutralZone values cause frequent state changes and noise.
- Use same calculation mode as FX Power: Mismatched modes produce inconsistent signals.
- Combine with FX Trend: Power Candles shows momentum strength, FX Trend shows direction. Both green = high confidence.
- Hide panel on small screens: Set hidePanel = true for a cleaner chart.
- R:R display: The panel includes a risk-reward indicator when Smart Stop Indicator is running on the same chart.
Common Issues
Candles stay gray - Normal during loading. Wait for 20+ valid data points. Enable debug mode to see progress in the Experts log.
Indicator won't load - FX Power NG or IX Power is not licensed or not installed. Both must be purchased separately.
Inconsistent colors after restart - Fixed in v2.3 with data validation. Update to the latest version.