Fabii Elder Market Thermometer
- Indicators
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Fabien Georges Andre Guillemaud
I develop custom indicators and trading tools for MetaTrader 5. - Version: 1.10
See when a quiet market wakes up. A Market Thermometer with wake-up alerts and five averages. No repaint.
Any pair, any timeframe. On your chart in 2 minutes. Free to test in the Strategy Tester.
Get more indicators here
Baselines, volatility filters and oscillators. No repaint.
Why you need it
You take a trade, price barely moves, and the setup fades in a market that was asleep. The market had no energy to follow your signal. A quiet market costs you time and spread.
What you get
Fabii Elder Market Thermometer shows whether the market is asleep or awake, so you trade when ranges expand.
- Four regimes in one histogram: idle (White), calm (Red), active (Green), explosive (Lime), so you read the market at a glance. Green and Red do not show price direction.
- Wake-up, explosive, idle and above-average alerts by popup, sound or push, so you do not watch the chart.
- Five averages: Exponential (EMA), Simple (SMA), Wilder (RMA), Weighted (WMA) or Ocean natural (NMA), so you tune the reaction.
- Buffers for your Expert Advisor, so it reads the regime and the wake-up directly.
- An optional volume check and inside bar markers, so you confirm each expansion.
How it works
The thermometer measures how far each bar extends beyond the previous one; an inside bar counts as zero. The defaults keep the classic calculation: an average of 22 bars and an explosive threshold of 3 times that average. This version adds the regimes, wake-up detection, alerts, the choice of average and the buffers. The measure comes from Dr. Alexander Elder; this is an independent implementation, not affiliated with him.
How to use it
- Attach the indicator to any chart.
- Read the histogram: White bars mean an idle market, Lime bars an explosive range.
- Take your own signals when the regime is active or explosive.
- Watch for the wake-up alert, the first Green bar after an idle run. Turn on sound or push in the settings.
Key settings
| Setting | What it does | Default |
|---|---|---|
| Average length | Bars in the average | 22 |
| Average type | EMA, SMA, RMA, WMA or OCN NMA | EMA |
| Explosive threshold (x average) | Multiple that makes a bar explosive | 3.0 |
| Idle threshold (bars below average) | Bars below average before idle | 7 |
| Explosive only if volume is above its average | Optional volume check | false |
| Alerts | Wake-up, explosive, idle, popup, sound, push | Popup on |
Other settings control colors and display options.
Test it before you decide
No repaint: let a bar close, then check in the Data Window that its values do not change. To test it: open the Strategy Tester, select this indicator and run it in visual mode on your pair and timeframe.
Updates are free and included. Every release is listed in the What's new section of this page, so you always know what changed.
Fabii Volatility Bias and Fabii Volatility ATR Percentile are two more volatility indicators. Follow my profile to be notified of new ones.
Get it and see your first signal on your own chart.
Comments and reviews
Questions? Post a comment on this page or message me and you get an answer within 24 hours.
If this saves you time, a short review that says which pair and timeframe you use helps other traders find it.
Past results do not predict future results. This indicator does not provide financial advice.
