Maverick has an algorithm inside that warns you for a possible change of price direction in the next 5 minutes.
With Maverick, it's sufficient to read the comment "Points" on a currency-pair chart of your MT4 platform to find out the best time to trade.
Points range from 0 to 10: when a candle closes, the higher the Points, the more likely the direction is to change during the next five minutes.
Therefore, making an example, if the current candle is bullish and the score (Points) is high, there is a good chance that next candle will close bearish. And for a high score, we mean a value more than 6. (But you may change, at your leisure, all the Maverick's settings, in accordance with your trading attitude.)
Besides "Points", the other comments you may see on the graph are:
- ATR that measures volatility and shows the degree of investors interest toward a currency pair.
- MFI is a momentum oscillator that measures the trading pressure of buyers and sellers; according to our calculation, we set the overbought area between 85 and 100 and the oversold area between 15 and 0.
- CANDLE TARGET represents the value that the candle has to reach to have an alert. It appears with a red or green circle above or below a candle, at the end of the 5 minutes.
- CONSEC CANDLES is the consecutive numbers of candles that walk in the same direction.
- CURRENT SCORE is the sum of the length of the consecutive candles.
- SPECIAL NUMBER if Current Score value reaches the Current Score value, you have an alert.
- DIRECTION is the trend of the current candle: if it's UP is bullish; if it's DOWN is bearish.
- LOW VOLATILITY represents the lower point of volatility calculated at that time.
- ExtMFIPeriod: here you can set the preferred period of the Money Flow Index indicator.
- InpATRPeriod: it's the period you may choose for the Average True Range indicator.
- MFIBuyLevel: it’s the overbought value of MFI. By default is 85.
- MFISellLevel: it’s the MFI oversold value.
- Points_for_Alert: represents the score (Points) you wish to have an alert message.
- Consec_Candles_for_Alert: is the number of the consecutive candles of the same kind (direction) for which you want to be warned.
- Enable_Consec_Candles_Alert: set to TRUE if you want to receive the consecutive candles alert.
- Enable_Candles_Score_Alert: if TRUE, you'll be warned when the sum of the length of the consecutive candles reaches and/or exceeds the Special Number.
- Enable_Early_Alerts: set TRUE to see circles over the candles that reach the Candle Target.
- Enable_CandleTarget_Notifications: with True, when a candle reaches Candle Target, you’ll receive a DOT alert. At the same time, a circle will appear above or below the last candle.
- Enable_Email_ CandleTarget_Notifications (or mobile): after setting your email parameters on MetaTrader, if it’s True, you will receive a message alert on your email address (smartphone) that Candle Target has been reached.
- Notifications_Update_MInutes: you can choose how many minutes you like to receive mail/smartphone notifications.
- Enable_Email_Alerts & Enable_Mobile_Alerts: allows you to exclude or activate any alert on your email and/or cellphone.
- signal_size: the size of the circle (symbol).
- signal_pips_distance: the distance between a circle and a candle.
- Show_Comments: to see or not the Comments on your graphs.
- Text_Color: change the color text of "Maverick" and "Direction".
- Font_Name: choose a font compatible with your OS.
- Font_Size: choose the size of the font.
- Corner: the place of your display where you see the comments. 1 is up on the right; is down on the left; 3 is down on the right; 4 is up on the left.
- TopGap: distance between the comments and the top/bottom of the chart.
- OffSet: distance between the comments and the left/right side of the chart.
- dy: the line spacing of the single letters of the comments.
To see the length of the candles, download for free "AkenCandle.ex4" in mql5 market at https://www.mql5.com/en/market/product/14408