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Sideways Detector indicator for MetaTrader 4 - Download - [TradingFinder]

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Sideways Detector indicator for MetaTrader 4 - Download - [TradingFinder]
Sideways Detector indicator for MetaTrader 4 - Download - [TradingFinder] 0
Sideways Detector indicator for MetaTrader 4 - Download - [TradingFinder] 1
Sideways Detector indicator for MetaTrader 4 - Download - [TradingFinder] 2
Sideways Detector indicator for MetaTrader 4 - Download - [TradingFinder] 3
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The Sideways Detector indicator is a technical analysis tool on the MetaTrader 4 platform that displays range areas and identifies the market condition in blue boxes.

This MetaTrader 4 indicator uses internal algorithms to detect price ranges and determine whether a trend exists.

Sideways Detector Specifications Table

The general specifications and features of the Sideways Detector indicator are displayed in the table below:

Category

Trading Cycles – Trading Assist – Price Action

Platform

MetaTrader 4

Skill Level

Intermediate

Indicator Type

Range – Breakout

Timeframe

Multi Timeframe

Trading Style

Intraday Trading

Trading Market

All Markets

Uptrend Conditions

The Bitcoin Cash (BCH/USD) price chart is shown in a 30-minute timeframe. The occurrence of several trendless candles within a price range indicates market indecision.

 If the price breaks upward from this range, it signals strong buyer entry and creates a favorable opportunity for entering buy trades.

Sideways Detector Indicator in an Uptrend
Breakout of the Range in an Uptrend – Sideways Detector Indicator

Downtrend Conditions

The EUR/USD currency pair chart is displayed in a one-hour timeframe. This MetaTrader 4 Trading Assist indicator, by showing non-trending ranges in blue, enables the detection of a range-bound market.

 If a candle stabilizes below this range, it confirms an exit from the range phase and increases the likelihood of a new downtrend beginning.

Range Trend Detection Indicator on the EUR/USD Chart
Exiting the Range Phase in the Sideways Detector Indicator

Indicator Settings

Image below shows the adjustable parameters in the settings panel:

Settings of the Range Market Detection Indicator
Overview of the Range Market Detection Indicator Settings Panel
  • Average weight factor: Weighted average coefficient
  • Min width: Minimum range width
  • Tolerance: Tolerance or sensitivity level
  • Zone Color: Zone color
  • Show Last N Zones: Display the last N zones
  • Lookback: Number of candles examined

Conclusion

The Sideways Detector indicator identifies neutral markets and detects trend breakout points. A correct understanding of how this indicator works can increase trading accuracy and reduce the risk of entering the market under unfavorable conditions.

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FAQs

What is the appropriate timeframe for using this indicator?

 This indicator is multi-timeframe and is applicable across all timeframes.

Is this indicator exclusively used for range trends?

 This indicator is designed to display the market range trend on the MetaTrader 4 platform.

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