Gaussian Signals & Candle draws a smoothed trend line with a band around it on MT4 and MT5, and the band is the part worth talking about. On almost every channel indicator you can download, the middle line is one calculation and the band width is a completely different one, usually ATR times some number. Two filters with two different lags, stapled together, and the join is where the false signals live.
This one runs the true range through the same Gaussian filter as the price, at the same pole count and the same period. The band breathes on the same delay as the line it wraps.
What the filter is supposed to do, and what usually ships
| The theory | What most versions ship | What this one does |
|---|---|---|
| A Gaussian filter has a pole count, and each pole trades lag for smoothness | Poles fixed at 4, or no setting at all | Factor 1 to 9, with the binomial weights computed for whichever one you pick |
| Band width should react on the same delay as the centre line | ATR(14) times a multiplier, a different filter with a different lag | True range goes through the same filter, same poles, same period |
| A trend tool should be allowed to say "no opinion" | Two colours, always committed to one side or the other | Three states, and the middle one is the honest one |
| Entering from below is not the same trade as entering from above | One fixed threshold either way | The threshold moves depending on where the bar opened |
| A reversal needs more evidence than a continuation | Symmetric conditions | Red needs the open and the close under the lower band; green only needs the close over the upper |
Row two is the one that costs money. When your band comes from ATR and your line comes from a smoother, the two disagree hardest exactly when volatility turns, which is exactly when you're deciding whether to act. You get a band that has already widened while the line hasn't moved yet, or the reverse. Here they turn together because they are the same filter fed different data.
What it draws
The channel. Three lines: the filter itself and a band either side. Width comes from the filtered true range scaled by the Sensitivity input, so it's wide in fast markets and tight in quiet ones without you touching anything.
Candle colour, on MT5. Green when the close is above the upper band. Red when the open and the close are both under the lower band. Neutral for everything else, which on most charts is most of the time. That neutral state is deliberate. Price inside the band means the filter has no read, and colouring it anyway would just be making something up.
Buy and Sell labels. Each one sits on its own indicator buffer as well as a text label, so an EA can read them through iCustom without parsing anything off the chart. The signal only fires once per direction: after a Buy there is no second Buy until a Sell has happened.
It doesn't draw entry, stop or target levels. No zones, no order blocks, no panel, no dashboard, and it reads only the chart it's on. If you want a tool that hands you a full trade plan, this isn't it.
The bit in the signal logic worth knowing
The threshold for a Buy isn't fixed. If the bar opened below the centre line, a Buy fires when the close crosses the centre line. If the bar opened at or above it, the Buy waits for the close to cross the upper band.
So coming up from underneath, it gets you in at the midline. Already above it, and it wants the extra proof of a band break before adding. Sell is the mirror, measured against the upper band and the lower band.
It's visible on any chart with a decent swing: labels near the bottom of a move sit on the middle line, the ones inside a run sit on the outer band.
Reading it
| On the chart | Read it as |
|---|---|
| Green candles | Close is clear of the upper band, trend is extended |
| Red candles | Whole body under the lower band, the down move has commitment |
| Neutral candles | Inside the band, no read, this is normal |
| Label on the centre line | Cross from the other side of the filter |
| Label on the outer band | Continuation break while already on that side |
| Bands flat and narrow | Range, and the labels here are the weak ones |
Long: wait for a Buy label, check the band is actually sloping rather than flat, then drop to your execution chart and take your own trigger. The centre line is a reasonable place to trail behind. Short is the same thing inverted.
Skip it when the bands are horizontal and price is crossing the middle every few bars. The tool will keep printing labels in that state because that's what it's built to do, and they'll alternate Buy, Sell, Buy, Sell as price saws through. That's not a filter failure to fix, it's a range, and the fix is on your side of the screen.
What this version can't do
It's noisy in a range, and I'd rather you saw the number than found out later. On the last 500 bars of USDJPY H4 it printed 63 labels. XAUUSD H1 over the same span printed 37. Most of the extra 26 come from two sideways stretches. If you trade every label you'll churn.
MT4 doesn't colour candles. MQL4 has no coloured-candle plot, and faking one with histogram buffers means drawing a second set of candles on top of yours. It looks worse than it sounds. The MT4 build gives you the channel and the labels, which carry the same information, but if candle colour is the reason you want this, buy it for MT5.
MT4 has no Telegram alerts either. The shared notification library on MT4 is older and only does popup, push and email. MT5 gets Telegram as well.
There's no correct pole count for every symbol. Factor 6 with period 55 is a reasonable place to start and it's what the defaults ship with. Higher poles are smoother and later. You'll want to change it per symbol and timeframe, and anyone who tells you their trend setting works everywhere is selling something.
Also worth knowing: the price source defaults to Low rather than Close, which sits the whole channel slightly below where you'd expect. That's intentional and it's an input, so change it to Close or Median if you'd rather.
You won't find a win rate table in this listing, and I'd treat any indicator listing that has one with some care.
Honestly, the part that ate the most time wasn't the filter recursion. It was a hard-coded table of nine weights, 36, 84, 126 and so on, that I typed out in full before noticing they were just binomial coefficients. Two lines instead of forty, and I only proved it by running both versions side by side over a few thousand bars and diffing the output.
Questions you'll have
Does Gaussian Signals & Candle repaint? Closed bars, no. Every value comes from bars that have finished, and the state that decides whether the next label is allowed is stored per bar rather than in a running variable, so a recalculation gives you the same history you had before. The bar that's still forming moves until it closes, like every trailing calculation ever written.
Gaussian Signals & Candle on MT4? Both platforms are included, one download each. Same filter, same signal rules, same defaults. The two differences are candle colour and Telegram alerts, both listed above.
M1? You can, and I wouldn't. The band is sized from true range, and on M1 that's mostly spread and noise, so you get labels with no move behind them.
Gaussian Signals & Candle best settings? Factor 6, period 55, sensitivity 28 is the default set and it's a fair starting point on H1 and H4. If it feels late, drop the factor before you touch the period. The period changes how wide the whole thing breathes; the factor changes how sharply it turns.
Gaussian Signals & Candle vs SuperTrend or a Keltner channel? Both of those size their band from ATR and put a different calculation in the middle. This uses one filter for both, which is the whole design. Whether you prefer that is a real question, and you can answer it on one chart.
Alerts? Popup, push notification, email, and Telegram on MT5. One alert per signal per bar, with a guard that resets when a new bar opens, so a fast market won't fire the same thing forty times.
Support
Message me with a screenshot of the chart, plus symbol, timeframe and your Factor and period, and that's normally enough for me to tell you what you're looking at. Updates are free.
Analysis tool. It places no trades and makes no profitability claim. Past price behaviour is not a guide to future price behaviour.