Unicorn + SFP Indicator MetaTrader 5 Download - Free - [Tradingfinder]

The Unicorn + SFP Indicator is designed to identify Unicorn Zones and the Swing Failure Pattern (SFP). Unicorn Zones are formed by the overlap of Breaker Blocks and Fair Value Gaps (FVGs) and serve as recognized reversal areas in the ICT trading style.

This indicator can mark fake breakouts, known as SFP, and highlight them with small arrows upon detection.

Specifications of the Unicorn + SFP Indicator

The information related to the indicator is accurately presented in this table:

Indicator at a Glance

Unicorn Zones are displayed as colored boxes at the tops and bottoms of candlesticks. Bullish Unicorn Zones are drawn in light purple, while Bearish Unicorn Zones are highlighted in pink.

These zones not only indicate price reversal points but also serve as areas of support and resistance.

How the Indicator Works in an Uptrend

In the example of the Ethereum (ETH) price chart on a 15-minute timeframe, the price returned twice to the Bullish Unicorn Zone (light purple boxes).

A Swing Failure Pattern (SFP) occurred on both occasions, marked by the indicator with green arrows.

How the Indicator Works in a Downtrend

As seen in the NZD/USD currency pair in a 30-minute timeframe, the upward movement in the trend was fake.

Following a false breakout of the Bearish Unicorn Zone (pink box), the Swing Failure Pattern (SFP) was triggered. In this situation, the indicator marked the SFP with a red arrow.

Indicator Settings

The parameters of the indicator are fully introduced in this section for more precise analysis:

• Color Theme of Chart and Object: Customizable color theme for the indicator;
• Bar Count: The number of candles for analysis (default: 1000);
• Level 1 BB Show: Enables the display of Level 1 Breaker Blocks;
• Level 1 BB Mode Show: Defines the type of Breaker Block;
• Level 1 BB Last Show: Displays the most recent Breaker Blocks;
• Level 1 BB Last Number Show: Specifies the number of recent Breaker Blocks displayed;
• FVG Show: Enables the display of Fair Value Gaps (FVGs);
• FVG Show Mode: Sets the type of FVG;
• FVG Last Show: Displays the most recent FVGs;
• FVG Last Number Show: Specifies the number of recent FVGs displayed;
• Unicorn Show: Enables the display of Unicorn Zones;
• SFP Mode: Defines the type of Swing Failure Pattern;
• SFP Show: Enables the display of Swing Failure Patterns.

Conclusion

The Unicorn + SFP Indicator is a tool developed based on the ICT strategy to identify fake breakouts (SFP) and reversal zones, known as Unicorn Zones.

Unicorn Zones act as potential liquidity areas, meaning that a reversal will likely occur after the price reaches these zones and forms a Swing Failure Pattern (SFP).