Power Bar

Power Bar identifies extreme candlesticks where the body size exceeds a configurable multiple of the Average True Range. It then runs three distinct strategy backtests against those candles - FlipFlop, Momentum, and Reversal - and displays real-time statistics directly on the chart. The goal is not to give you a signal and send you on your way; it is to show you whether that signal type has any statistical edge on the instrument and timeframe you are actually trading.

Key Features

• Detects extreme candles where body exceeds N x ATR (configurable multiplier)
• Backtests three strategies: FlipFlop, Momentum, and Reversal
• Real-time stats per strategy: Trades, Winrate, Pips, Max Profit, Max Loss
• Interactive +/- buttons to adjust parameters without reopening settings
• Green and red arrow signals on confirmed extreme bars
• SL/TP lines displayed on chart in Momentum and Reversal tabs
• Configurable ATR period (10-50)
• MT5 only

How traders use it

The typical workflow is to open the indicator on the instrument you trade, set your ATR period to match your usual volatility baseline, then cycle through the three strategy tabs. Each tab shows you its own backtested statistics immediately. If Momentum shows a 62% winrate over 80+ trades on XAUUSD H1, that is a data point worth acting on. If Reversal shows 38% over the same sample, you know to avoid that approach on that chart.

The interactive parameter adjustment is practical during live sessions. You can hit the +/- buttons to shift the ATR multiplier up or down and watch how the stats change in real time. This makes it fast to find the threshold where signal quality improves without manually reopening the settings dialog each time. The SL/TP lines in Momentum and Reversal mode give you a visual reference for where the strategy expects the move to go, which helps with position sizing before you enter.

Supported markets

Any instrument available in MT5 - Forex, metals, indices, crypto.

Getting started

Power Bar is MT5 only. After installation, attach it to any chart and select your starting strategy tab. The statistics populate from historical data immediately. Walk through the full setup at # to understand how to read the strategy comparison and how the ATR multiplier affects signal frequency.