Sideways Detector indicator for MT5 - Download - [TradingFinder]

The Sideways Detector Indicator is a technical analysis tool in the MetaTrader 5 platform, designed to identify non-trending zones. This tool draws a navy blue box to display price equilibrium ranges and determine market conditions.

This MetaTrader 5 indicator analyzes price movements using internal algorithms to determine whether the market is in a neutral phase or forming a new trend.

Sideways Detector Indicator Specifications Table

The features of the Sideways Detector Indicator are displayed in the table below.

Uptrend Conditions

The image below displays the Dow Jones (DJI) price chart in a 4-hour timeframe. Trendless candles within a price range indicate market indecision.

If the price breaks above the navy blue area, this confirms strong buyer activity and signals an exit from the range cycle. As a result, many traders consider this breakout as a buy entry signal.

Downtrend Conditions

The Nikkei Stock Index (NIKKEI) price chart is displayed in a 15-minute timeframe. The Sideways Detector Indicator highlights trendless zones in navy blue to facilitate range market identification.

If a candle stabilizes below this level, it confirms price exiting the range phase and increases the probability of a new downward movement.

Indicator Settings

Image below displays the adjustable parameters in the Sideways Detector 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 examined candles

Conclusion

The Sideways Detector Indicator automatically detects neutral or non-trending market conditions (sideways markets). This MetaTrader 5 Trading Assist  helps identify range-bound zones, preventing traders from entering choppy and trendless markets.