Contrarian Zones MT4
- Indicators
-
Agus Santoso
DISCLAIMER ON : The author of EA will not be held responsible for your losses or problems of any kind if the EA is directly or indirectly responsible for any losses.
Our software is provided “as is”, without any warranty or condition of any kind, express, implied or statutory. - Version: 1.0
- Activations: 5
MQL5 Blogs = https://www.mql5.com/en/blogs/post/776162
MT4 Version = https://www.mql5.com/en/market/product/188797
MT5 Version = https://www.mql5.com/en/market/product/154022
CONTRARIAN ZONES [tambangEA] is a professional market-zone indicator designed to identify potential reversal areas by combining swing structure, momentum conditions, volatility, volume behavior, rejection characteristics, and zone interaction history.
Unlike a conventional support and resistance indicator, CONTRARIAN ZONES does not treat every swing level equally. Each zone is evaluated through a multi-factor scoring model and continuously monitored as price interacts with it.
The indicator focuses on two primary market structures:
BUY-DIP Zones — potential bullish contrarian areas formed around qualified swing lows.
SELL-RIP Zones — potential bearish contrarian areas formed around qualified swing highs.
The objective is to help traders identify where price may become overstretched, test liquidity, reclaim an important level, or convert a broken zone into a continuation area.
MAIN FEATURES
Dynamic Contrarian Zones
The indicator automatically detects and manages bullish and bearish zones based on confirmed market swings.
Zones are displayed directly on the chart with:
BUY-DIP zones
SELL-RIP zones
Zone boundaries
Midline reference
Dynamic visual strength
Zone status information
Zone price anchor
The zone height can be calculated using ATR or a percentage of price.
MULTI-FACTOR BIRTH CONVICTION
A new zone must pass a configurable Contrarian Conviction threshold before it is accepted.
The scoring engine combines several market characteristics:
RSI extreme condition
Momentum divergence
Rejection wick
Relative volume / volume climax
Mean-reversion stretch
Market pressure proxy
Bollinger Band penetration
Each component has an independent weighting parameter.
The resulting Conviction Score represents the quality of the conditions present when the zone was originally created.
Example:
Conv 6.7/10
means that the zone was formed with a relatively strong combination of the configured contrarian factors.
