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Peak Trough Analysis Tool MT5

4.33

Peak Trough Analysis is the great tool to detect peaks and troughs in your chart. Peak Trough Analysis tool can use three different peaks and troughs detection algorithm. The three algorithm include the orignal Fractals Indicator by Bill Williams, the Modified Fractals indicator and ZigZag indicator. You can use this peak and trough analysis tool to detect the price pattern made up from Equilibrium Fractal-Wave process. For further usage, there are good guide line on how to use this peak trough analysis tool in the chapter 11 in the book: Introduction to Price Action and Pattern Trading. This is a free tool and you can use this powerful tool for your own benefit at your own risk.


How to use

You can use in three mode.

  • Mode 1: The Fractals indicator by Bill Williams
  • Mode 2: The Modified Fractals indicator
  • Mode 3: Zig Zag indicator

To use Modified Fractals Indicator algorithm, set “Use Modified Fractals” = true.

To use for Zig Zag indicator algorithm, set “Modified Fractals” = false.

To use the original Fractals Indicator algorithm by Bill Williams, set “Use Modified Fractals” = true. Set N left = N right = 2.


Input Setting

1. Modified Fractals Setting

  • N left - N = number of bars counting to left
  • N right - N = number of bars counting to right

2. Zig Zag Setting

Use default setting unless you are familiar with ZigZag indicator.

  • ZigZag Depth
  • ZigZag Deviation
  • ZigZag Backstep

3. General Setting

  • Arrow Shift in Pixels - 10 = default
  • Use White Background Chart - true or false only
  • Enable sound alert - true or false only
  • Send email if peak or trough is found - true or false only
  • Send notification if peak or trough is found - true or false only


Trading Strategy Guide

Using Peak Trough Analysis is documented in the link below. It is highly recommended to read this article before trading.

https://www.mql5.com/en/blogs/post/747649

In addition, you can find the trading strategy guide from the links below:

Guide for Volume Spread Analysis: https://www.mql5.com/en/blogs/post/747652

Guide for Harmonic Pattern Detection Indicator: https://www.mql5.com/en/blogs/post/747647

Guide for Momentum Indicator: https://www.mql5.com/en/blogs/post/747633

Guide for Supply Demand Indicator: https://www.mql5.com/en/blogs/post/747632

Guide for Elliott Wave Indicator: https://www.mql5.com/en/blogs/post/747668

Guide for Volatility Indicator: https://www.mql5.com/en/blogs/post/747670



Important Note

This is the off the shelf product. Therefore, we do not accept any modification or customization request on this product. In addition, we do not provide any code library or any support for your coding for this product.


    Reviews 11
    Bwalya Tambule
    444
    Bwalya Tambule 2022.03.23 13:17 
     

    nice one

    bergen288
    271
    bergen288 2022.02.11 02:09 
     

    Very nice indicator. It fits my trading style perfectly.

    Devonish
    2187
    Devonish 2019.09.13 11:46 
     

    Thank you for this. I use it with some of your other indicators which I purchased.

    Also, thank you for your continued support and development :)

    (Updated Version 1.5 just released)

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    Filter:
    Pavel048
    166
    Pavel048 2022.06.09 11:03 
     

    Индикатор имеет смысл в настройках "зиг заг" Можно использовать пики и впадины зиг зага для ручного определения тренда, но то же самое можно сделать и с обычным зиг загом. Как определитель тренда пойдет, как точка входа - нет.

    Bwalya Tambule
    444
    Bwalya Tambule 2022.03.23 13:17 
     

    nice one

    bergen288
    271
    bergen288 2022.02.11 02:09 
     

    Very nice indicator. It fits my trading style perfectly.

    33359
    72
    33359 2021.06.23 06:07 
     

    Не очень понятен для меня, не использую.

    Devonish
    2187
    Devonish 2019.09.13 11:46 
     

    Thank you for this. I use it with some of your other indicators which I purchased.

    Also, thank you for your continued support and development :)

    (Updated Version 1.5 just released)

    [Deleted] 2019.01.07 20:13 
     

    User didn't leave any comment to the rating

    Gennadiy Voltornist
    11922
    Gennadiy Voltornist 2017.11.29 19:02 
     

    User didn't leave any comment to the rating

    Daniel Andrejczuk
    5590
    Daniel Andrejczuk 2017.11.09 02:46 
     

    User didn't leave any comment to the rating

    Cayetano Martin Fernandez
    87
    Cayetano Martin Fernandez 2017.08.29 13:12 
     

    Fantastico indicador de fractales ..el mejor que he probado

    SidneyFX
    34
    SidneyFX 2017.06.28 22:31 
     

    User didn't leave any comment to the rating

    Nork
    6197
    Nork 2017.06.28 05:26 
     

    User didn't leave any comment to the rating

    Reply to review
    Version 1.5 2020.02.05
    In version 1.5, minor improvement made on Peak Trough Analysis. We tried to tune the indicator for the usage with the Book: Profitable Patterns in Forex and Stock Market and Scientific Guide to Price Action and Pattern Trading.
    Version 1.3 2019.09.21
    In version 1.3, we have added more stable algorithm of detecting peak and trough in the indicator.