Extreme Spike indicator for MetaTrader 5 Download - Free - [Trading Finder]

The Extreme Spike Indicator uses the Average True Range (ATR) and precise calculations to detect significant market fluctuations and predict potential trend reversal points. MetaTrader 5 (MT5) indicates downward trend reversal points in blue and upward trend reversal points in red, allowing traders to react promptly to these points and make more informed trading decisions.

Extreme Spike Indicator Table

Downward Spike and Uptrend

In the 4-hour GBP/USD chart, the Extreme Spike Indicator identifies a sharp spike and displays it in blue in the oscillator window after a downtrend. Traders can use this signal as an entry or exit point for their trades.

Upward Spike and Downtrend

In the 4-hour S&P500 chart, the Extreme Spike Indicator identifies a significant upward spike using ATR-based calculations, issuing a sell signal. This alerts traders to potential changes in market direction, and the market subsequently enters a downtrend.

Extreme Spike Indicator Settings

• No Repaint: Prevents the indicator from repainting.
• Minor Min Extreme Height ATRs: Defines how many times the candlestick length should exceed 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 remains valid for.
• Major Min Extreme Width: Defines how many candles the Major Spike remains valid for.
• Alert Major Bottom Enabled: Enables alert for Major Downward Spike.
• Alert Major Top Enabled: Enables alert for Major Upward Spike.
• Alert Minor Top Enabled: Enables alert for Minor Upward Spike.
• Alert Minor Bottom Enabled: Enables alert for Minor Downward Spike.
• Alert Stable Enabled: Enables alerts for all Stable Spike candlesticks.

Summary

The Extreme Spike Indicator is suitable for traders seeking to identify trend reversal points on price charts. This indicator provides alerts for volatile points and potential trend reversal areas, helping traders make timely decisions and improve their trading strategies.