Extreme Spike indicator MT5

Extreme Spike indicator for MetaTrader 5

The Extreme Spike indicator for MetaTrader 5 applies ATR (Average True Range) analysis and advanced volatility filters to highlight sharp price movements and signal possible market reversals. On the MT5 platform, the indicator marks potential trend reversals to the downside with blue, and to the upside with red, equipping traders with timely alerts to manage risk and position themselves accordingly.

Extreme Spike Indicator Table

Downward Spike Leading to Uptrend

On the 4-hour chart of GBP/USD, the Extreme Spike indicator highlights a downward spike using ATR volatility metrics, shown in blue within the sub-window. This alert is interpreted as a potential turning point, assisting traders in identifying favorable entries or exits during trend shifts.

Upward Spike Leading to Downtrend

In the S&P500 4-hour chart, the Extreme Spike indicator identifies a sharp upside spike, rendered in red, based on its volatility calculation engine. The signal suggests a reversal is likely, and shortly after, the asset enters a downward phase—offering traders a potential signal to enter short positions or exit longs.

Extreme Spike Indicator Settings

• No Repaint: Ensures fixed signal points without retroactive adjustments.
• Minor Min Extreme Height ATRs: Defines spike strength based on multiples of ATR.
• Major to Minor Height Ratio: Determines threshold difference between major and minor spikes.
• Minor Min Extreme Width: Number of bars a minor spike remains active.
• Major Min Extreme Width: Duration a major spike signal is valid.
• Alert Major Bottom Enabled: Activates alerts for downward spike formation.
• Alert Major Top Enabled: Enables notifications for strong upward spikes.
• Alert Minor Top Enabled: Turns on alerts for weaker upward movements.
• Alert Minor Bottom Enabled: Triggers alerts for smaller downward reversals.
• Alert Stable Enabled: Flags steady spike formations across timeframes.

Summary

The Extreme Spike indicator for MetaTrader 5 is a dynamic tool for traders aiming to capture volatility-driven reversals. With built-in alerts for both major and minor spikes, this indicator empowers users to refine their strategy, react to price extremes more efficiently, and strengthen their decision-making in active market conditions.