DowWave Marker MT5 Edition

DowWave Marker MT5 Edition

See the Structure. Follow the Trend.

DowWave Marker is a MetaTrader 5 indicator for discretionary traders who want to analyze market structure based on Dow Theory and review multiple timeframes on one chart. It visualizes changes and continuations in swing structure and combines them with moving averages, key price levels, Fair Value Gaps, and Order Blocks.

This MT5 Edition includes the full SMC feature set. It is an analytical indicator, not an Expert Advisor. It does not place or manage trades.

Market Structure Based on Dow Theory

The core of DowWave Marker is its visualization of CHoCH (Change of Character) and BOS (Break of Structure), derived from swing highs and lows. These labels provide reference points for evaluating structural changes and trend continuation. Watching labels and pullback lines help traders monitor developing structures and relevant price levels.

Main Features

• CHoCH and BOS: visualize structural changes and continuation based on Dow Theory
• ZigZag, Watching and pullback lines: identify swing points and price levels under observation
• Higher-timeframe structure: overlay selected higher-timeframe ZigZag and Watching information on the current chart
• Moving averages: display short-, medium- and long-period moving averages from both the current and higher timeframes
• Key price levels: pivot levels, Tokyo/London/New York session highs and lows, and previous daily/weekly highs and lows
• Fair Value Gaps (FVG): display imbalance areas formed on the chart timeframe
• Order Blocks: highlight areas identified on the chart timeframe for further analysis
• Candle Range Theory (CRT) and Cluster Early Trigger (CET): additional analytical features
• Notifications: configurable pop-up, push and email notifications for supported events

Example Workflow

For example, use H4 as the higher timeframe and M15 as the execution timeframe. Review the higher-timeframe structure and moving averages first, then examine CHoCH, BOS and pullback behavior on the lower timeframe. H1/M5 is another possible combination. Use FVGs, Order Blocks and key price levels to evaluate areas that may deserve attention.

A CHoCH, BOS, CRT or CET display is not, by itself, an instruction to enter a trade. Consider market context, relevant levels, stop-loss placement and your own trading plan.

Language and Settings

The Language parameter supports Auto, Japanese and English. Auto follows the MetaTrader 5 terminal language: supported labels and notifications appear in Japanese for Japanese terminals and in English otherwise. Input parameter names are displayed in English.

Chart elements, colors, timeframe selections and supported alerts can be configured through the indicator inputs. Email and push notifications also require the corresponding MetaTrader 5 terminal settings. Sufficient historical data must be available for the selected chart and higher timeframes.

Demo, Rental and Important Notes

The free MQL5 Market demo can be evaluated in the Strategy Tester visual mode. A one-month rental option is available for using the indicator on regular charts during the rental period.

DowWave Marker does not guarantee profits or trading outcomes. It does not execute orders, close positions or manage account risk. Trade execution and risk management remain the responsibility of the user.