Single Arrow WaveVolume Reversal Scanner MT4

One panel. Every symbol. Every timeframe. Only reversals that were confirmed on a closed bar.

Single Arrow Reversal Scanner is a standalone panel indicator for MetaTrader 4. It does not draw on your chart: it watches a list of symbols across up to eight timeframes and reports the newest confirmed reversal in every cell.

The engine is the same closed-bar reversal engine as the Single Arrow Reversal family: a ZigZag extreme is only a candidate — the signal exists when a later closed bar rejects that extreme. The scanner shows that moment with its real age in bars, so nothing you read in a cell repaints.

MT4 edition: this is the same panel with the same closed-bar engine as the MetaTrader 5 version — one file, no DLLs, no external indicators. MetaTrader 4 publishes no real-volume series, so the wave-volume mark is computed from tick volume.

The panel at a glance

• Symbols x timeframes: up to 24 symbols from Market Watch or a custom list, up to 8 timeframes (default M15, H1, H4, D1).
• Cell: B = buy reversal, S = sell reversal, followed by the age in bars (99+ = older).
• Volume mark: - weaker / = similar / + stronger participation of the wave that ended at that pivot.
• * = WPR divergence present at that pivot.
• Bright cell = inside your fresh window (default 8 bars); dim cell = older, still shown for context.
• BIAS column = how many bright buy / sell cells the row has right now.
• [RESCAN] rebuilds the list, the engines and the panel; the footer reports progress and completion.
• Click any row (symbol, any cell, or BIAS) to open that symbol on the chart.

How a cell is produced (same rule as the chart edition)

1. The built-in ZigZag engine prints a swing extreme (a candidate).
2. For up to N closed bars (default 8) the scanner waits for a bar that breaks back through the trigger — pivot body, full candle or pivot close — and closes as a rejection candle.
3. That rejecting closed bar confirms the reversal; the cell shows it with its age in bars. If price makes a new extreme first, the candidate is invalidated: no signal.

Empty cells are honest: - means there is no confirmed reversal in the scanned history of that symbol and timeframe — not a data error.

Wave-volume mark and divergence

At every confirmed reversal the scanner compares the average volume of the wave that ended there with the median of the previous same-direction waves (1–3 references) and prints + / = / -. A * appears when the WPR divergence filter reads a divergence at that pivot (the filter can also be set to require divergence before a reversal counts). Tick volume is the only volume series MetaTrader 4 provides, and it is what the mark uses.

Alerts on new confirmed reversals

Popup, push, sound and mail, with filters: buy / sell, timeframe list, mark = '+', divergence only. An alert fires once when a reversal becomes confirmed — and only while it is fresh (default: the last 2 closed bars), so loading history never produces an alert about an old signal.

Fresh window and row order

The fresh window (default 8 bars, 0 = everything fresh) decides what counts in BIAS and which cells stay bright. With newest first row order (default) the row whose newest confirmed reversal is the most recent moves to the top; watchlist order keeps your list untouched.

Settings reference

• Watchlist: Market Watch or a custom comma-separated list; maximum symbols (up to 24); timeframes (up to 8).
• Scan pace: timer period and engines per tick (defaults 250 ms x 3 engines).
• Reversal confirm: wait bars (8), trigger (pivot body / full candle / pivot close), rejection candle required.
• Cell display: fresh window, volume marks on/off, tick volume (the only source in MT4), 1–3 reference waves.
• Alerts: enable, buy/sell, timeframe filter, mark = '+', divergence only, popup / push / sound / mail.
• Panel: corner, X / Y, font size, row order.

What it is not

• A chart plotter. The scanner never draws arrows, waves or fib levels on your chart — it is a radar. Use the Single Arrow Reversal editions when you want the drawing tools.
• A trading robot. It sends no orders and manages no positions.
• An accuracy claim. Decision support only; no accuracy or profit claim is made.
• Multi-timeframe scans need history: open each symbol and timeframe once in the terminal so the data is downloaded.

From the same family: Single Arrow MT4, Single Arrow Reversal MT5, Single Arrow Wave Volume Reversal MTF and Single Arrow Reversal Scanner (MT5).