Apex Converge MT4
- Indicators
-
Evgeniy Zhdan
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
Products: https://www.mql5.com/en/users/trendhunter/seller
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖ - Version: 1.0
- Activations: 5
ApexConverge is a MetaTrader 5 indicator that automatically detects triangle patterns (ascending, descending and symmetrical), draws their boundaries with a shaded zone, and marks the breakout bar with an arrow.
MT5-version: https://www.mql5.com/en/market/product/200424
How it works
The indicator finds swing highs and lows, fits two trendlines through them and checks the shape: flat top with rising bottom is an ascending triangle; falling top with flat bottom is descending; two converging lines of similar steepness form a symmetrical triangle. Price must stay inside the pattern until the breakout. A pattern appears with a delay of a few bars (see Swing confirmation (bars after)), so confirmed signals are not repainted.
How to trade with it
- Ascending (flat resistance): traders usually watch for an upside breakout.
- Descending (flat support): traders usually watch for a downside breakout.
- Symmetrical: neutral; trade the direction of the breakout.
- An up arrow means a close above the upper line, a down arrow a close below the lower line. Enter on the arrow or on a retest of the broken line; place the stop beyond the opposite line or the last swing; a common target is the triangle's height at its widest point projected from the breakout.
- Dashed lines labeled "(no breakout)" or "(expired)" are failed patterns and are best ignored.
- Patterns are more reliable on higher timeframes (H1 and above). Use alerts so you don't have to watch the chart.
Settings
- MQL5.com account — link to the author's profile; it does not affect calculations.
- Swing strength (bars before) — how many bars to the left a swing must dominate. Higher = fewer but more significant swings.
- Swing confirmation (bars after) — how many bars to the right confirm a swing. Higher = more reliable but later.
- Touches per side (2–4) — how many swing points each trendline must pass through. Higher = stricter.
- Flat line tolerance (% of height) — how far a line may tilt and still count as horizontal (ascending / descending).
- Symmetry ratio (max) — maximum steepness ratio between the two lines of a symmetrical triangle. Lower = more balanced patterns.
- Touch / containment tolerance (x ATR) — tolerance in ATR units: how far swings may sit off the line and price may poke outside.
- Min pattern length (bars) / Max pattern length (bars) — size limits of a pattern; the maximum also limits its lifetime.
- ATR length — ATR period used for tolerances.
- Ascending / Descending / Symmetrical — enable or disable each pattern type.
- Ascending color, Descending color, Symmetrical color, Line width, Fill pattern — colors, line thickness and fill.
- Breakout requires a close beyond the line — on: a breakout counts on the candle close; off: a wick is enough (more signals, more false ones).
- Show breakout arrows, Breakout arrow, Breakdown arrow, Arrow size (1-5) — arrow visibility, colors and size.
- Pop-up alerts, Push notifications, Email alerts — notifications when a pattern is detected and when it breaks out. Push and email require MetaQuotes ID and mail to be set up in the terminal.
