Extreme Spike indicator for MetaTrader 4 Download - Free - [Trading Finder]

The Extreme Spike Indicator for the MetaTrader 4 (MT4) platform oscillates based on the Average True Range (ATR). This indicator helps traders identify sharp market fluctuations. A vital feature of this tool is identifying candlesticks that move more than twice the ATR value with a 250-period setting. The indicator shows Major Spikes, representing excessive downward volatility in blue and upward volatility in red. This tool is especially useful in volatile markets and alerts traders to sudden and unexpected price changes, helping them make more informed decisions. In addition to Major Spikes, the indicator also shows Minor Spikes, which represent less intense price fluctuations.

Indicator Table

Downward Spike

In the 15-minute EUR/USD chart, the Extreme Spike indicator identifies significant volatility, showing a downward spike in blue on the oscillator. After this sharp move, the market trend reverses and moves upward.

Upward Spike

In the 15-minute USD/JPY chart, the Extreme Spike indicator identifies significant volatility, showing an upward spike in red on the oscillator. After this sharp move, the market trend reverses and moves downward.

Indicator Settings

• No Repaint: Prevents the indicator from repainting.
• Minor Min Extreme Height ATRs: Defines how many times the candlestick length should be above the ATR to be considered a Minor Spike.
• Major to Minor Height Ratio: Sets the ratio of Major Spike candlestick length compared to Minor Spike.
• Minor Min Extreme Width: Defines how many candles the Minor Spike is valid for.
• Major Min Extreme Width: Defines how many candles the Major Spike is valid for.
• Alert Major Bottom Enabled: Alerts when a Major Downward Spike occurs.
• Alert Major Top Enabled: Alerts when a Major Upward Spike occurs.
• Alert Minor Top Enabled: Alerts when a Minor Upward Spike occurs.
• Alert Minor Bottom Enabled: Alerts when a Minor Downward Spike occurs.
• Alert Stable Enabled: Alerts for all Stable Spike candlesticks.

Summary

The Extreme Spike Indicator is an ideal oscillator for traders seeking to identify price reversal points. Using the Average True Range (ATR), this indicator accurately displays price reversal points on the chart, helping traders recognize significant price trend changes.