• Overview
  • Reviews (3)
  • Comments (3)

Volume Spread Pattern Detector MT5

Introduction

This indicator detects volume spread patterns for buy and sell opportunity. The patterns include demand and supply patterns. You might use each pattern for trading. However, these patterns are best used to detect the demand zone (=accumulation area) and supply zone (=distribution area). Demand pattern indicates generally potential buying opportunity. Supply pattern indicates generally potential selling opportunity. These are the underlying patterns rather than direct price action. The effect of buy and sell market may come after observing several of these patterns sometimes. Therefore, these patterns are useful in detecting possible demand zone (=accumulation area) or supply zone (=distribution area). In overall this is easy and simple indicator to support your trading operation. Trading principle is based on the modified volume spread analysis. We do not use sub phase A, B, C, D and E of Wyckoff phases due to the high subjectivity in detecting them. Instead, we focus on identifying accumulation and distribution area using demand and supply patterns. This is simpler and more effective approach.

 

Input Recommendation

Most of time you can use default setting for this volume Spread Indicator. However, you might want to tweak around to use for your specific needs. Here is the complete description of input settings.

 

Calculation Settings

  • Bars to scan: Amount of bars to calculate demand and supply pattern.
  • Indicator Period: Calculation period to generate each supply and demand patterns.
  • Lookback Factor: 1.0 as default
  • Signal to Noise Ratio: from 0.4 to 1.0 only. (Input used to filter random fluctuations in data.)

 

 

Indicator Setting

  • Use white background for chart: Set this to false if you just want to use default black background color.
  • Supply Pattern Color: color of supply patterns.
  • Demand Pattern Color: color of demand patterns
  • Neutral Pattern Color: color of neural patterns or no patterns.

 


Compatibility with Other Trading System

Volume Spread Pattern Indicator can run best to identify Demand zone (=accumulation area) and supply zone (=distribution area). When you run with Excessive Momentum Indicator, C point of Excessive Momentum become the selling climax (SC) or the buying climax (BC). Then you will use demand and supply patterns to confirm the accumulation area and distribution area for your trading. Both short term and long term trading is possible.

You can use also our Harmonic Pattern System together with Volume spread pattern indicator.

When you are using our Harmonic Pattern System with volume spread pattern indicator, supply and demand patterns will appear around Point D of our Harmonic Pattern System. In addition, you might confirm it with Background signal strength together. For compatibility, use our Trading system together with Volume Spread Pattern Indicator.


Further Note

Volume Spread Pattern Detector is light version (or demo version) of Volume Spread Pattern Indicator. Therefore, you can only access the limited feature in Volume Spread Pattern Detector. In Volume Spread Pattern Detector, you can not use any of alert features and the powerful background signal as the part of your trading. However, you can still use this volume spread pattern detector to get the feel of how this tool can go or fit with your existing system. If you want the full feature, here is the link to Volume Spread Pattern Indicator.


Educational Books for your Day Trading

1. Profitable Chart Patterns in Forex and Stock Market

2. Scientific Guide to Price Action and Pattern Trading


Important Note

This product is the off the shelf product in the store. Therefore, we do not take any personal modification or personal customization request. For our products, we do not provide any code library or any support for your coding.


Reviews 3
Evren Caglar
160
Evren Caglar 2020.07.09 14:48 
 

If you carefully observe and work on the price reversals,trend and the location this indicator appears, you will see this is a predictive indicator and does a good job. Overall I like it very much. Thank you for the developer, I use it on H1 time frame and it does an excellent job for me.

Davi Volpato
20
Davi Volpato 2019.08.23 01:26 
 

Use it with support and resistance lines, it's like magic :)

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The Missing Edge You Need To Catch Breakouts Like A Pro. Follow a step-by-step system that detects the most powerful breakouts! Discover market patterns that generate massive rewards based on a proven and tested strategy. Unlock Your Serious Edge Get it here ► www.mql5.com/en/blogs/post/723208 Have access to the game changing indicator that will take your trading to the next level! How To Trade Execute your trades in 3 Easy Steps! Step 1: Trade Setup Enter a signal if Success Rate is
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Smart Harmonic Pattern
Andrey Danilo Sagot Munoz
SMART HARMONIC PATTERN is an indicator that scans the market for potential geometric formations with fibonacci related mathematical formulas. It does a full recognition in the graphical history and live price without the need for complex analysis, since everything is calculated by the same indicator. You can also work with the old formations and recognize current trading levels automatically proyected on the chart, all this only with a click on the pattern formed. It has advanced settings so you
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Support and Resistance with Trendlines
Ammar Yaseen
This indicator would help you I DENTIFY different HORIZONTAL SUPPORT / RESISTANCE LEVELS AND TRENDLINES.  ADVANTAGES: Use up till 5 different levels of Support and Resistance Use up till 5 different trend lines  Use true/false options to display for Support/Resistance or Trend line Image PARAMETERS: nPeriod: the time period to decide  Limits: the candles limit to look back UseHorizontalLines: true/false option to display Horizontal Support and Resistance Lines UseTrendline: true/false opti
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Advanced Currency Impulse with Alert MT5
Bernhard Schweigert
⭐⭐⭐⭐⭐  Best Solution for any Newbie or Expert Trader! This Indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a secret formula. With only ONE chart it gives Alerts for all 28 currency pairs. Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity? USER MANUAL: click here Built on new underlying algorithms it makes it even easier to identif
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Gartley Projections D
Oleksandr Medviediev
The indicator identifies the harmonic patterns (XABCD) according to developments of H.M.Gartley ( "Profits in the Stock Market" , 1935г). It projects D-point as a point in the perspective projection (specify ProjectionD_Mode = true in the settings). Does not redraw. When a bar of the working timeframe closes, if the identified pattern point has not moved during Patterns_Fractal_Bars bars, an arrow appears on the chart (in the direction of the expected price movement). From this moment on, the ar
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Young Ho Seo
Breakout Trading and Reversal Trading Fractal Pattern Scanner will do the complicated calculation at background. However, it provides simple trading operation. The Mother Wave pattern will provide you breakout trading opportunity. When the price crosses the breakout line, there is a good chance to catch profit from this breakout. The good thing is that it also provides the potential reversal price level as soon as the breakout pattern is detected. In summary, you use breakout for the first prof
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Volume Spread Pattern Indicator MT4
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Market Activity Index MT4
Young Ho Seo
This innovative technical indicator was created to detect quiet market period before the beginning of the high volatile market. Like many good technical indicators, this Market Activity Index is very stable and it is widely applicable to many financial and non financial instruments without too much restriction. The Market Activity Index can be used best to visualize the alternating form of low and high volatile market. It is very useful tool to pick up the quiet market but ironically this is the
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Excessive Momentum Indicator MT4
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Elliott Wave Trend MT4
Young Ho Seo
Elliott Wave Trend was designed for the scientific wave counting. This tool focuses to get rid of the vagueness of the classic Elliott Wave Counting using the guideline from the template and pattern approach. In doing so, firstly Elliott Wave Trend offers the template for your wave counting. Secondly, it offers Wave Structural Score to assist to identify accurate wave formation. It offers both impulse wave Structural Score and corrective wave Structure Score. Structural Score is the rating to sh
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X3 Chart Pattern Scanner MT4
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Harmonic Pattern Plus MT4
Young Ho Seo
Introduction Harmonic Patterns are best used to predict potential turning point. Hence, Harmonic Patterns are the sub patterns of turning point patterns. Traditionally, Harmonic Pattern was identified manually connecting extreme points in charts. Manual harmonic pattern detection is painfully tedious and not suitable for everyone. You are often exposed under subjective pattern identification with manual pattern detection. To avoid these limitations, Harmonic Pattern Plus was designed to automat
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Ace Supply Demand Zone MT4
Young Ho Seo
About Ace Supply Demand Zone Indicator The concept of supply demand trading rely on the quantity mismatching between buying and selling volumes in financial markets. Supply and demand zone serves as the good entry in our trading. It provides you the detailed trading plan + the risk management. Its ability to predict market direction is high. There are two distinctive points about Ace Supply Demand Zone Indicator. Firstly, Ace Supply Demand Zone indicator was built on the non-repainting and non
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Young Ho Seo
Notable period of Low volatility and non-trending movements in the financial market is considered as Sideways Market. Sooner or later, the low volatility will increase and the price will pick up a trend after Sideways Market. In terms of trading point of view, Sideways Market can serve as the very good entry timing for traders. Sideways Market is also quite often the representation of accumulation of large orders from big investors. Therefore, knowing the presence of Sideways Market can help you
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Young Ho Seo
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Equilibrium Fractal Wave Analytics MT5
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EFW Analytics was designed to accomplish the statement "We trade because there are regularities in the financial market". EFW Analytics is a set of tools designed to maximize your trading performance by capturing the repeating fractal geometry, known as the fifth regularity in the financial market. The functionality of EFW Analytics consists of three parts including: Equilibrium Fractal Wave Index: exploratory tool to support your trading logic to choose which ratio to trade Superimposed Pattern
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Double Harmonic Volatility Indicator MT5
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Pair Trading Station MT5
Young Ho Seo
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Peak Trough Analysis Tool MT5
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Fractal Moving Average Indicator MT5
Young Ho Seo
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Time Box Indicator MT5
Young Ho Seo
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Order Risk Management EA MT4
Young Ho Seo
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Peak Trough Analysis Tool MT4
Young Ho Seo
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Time Box Indicator MT4
Young Ho Seo
Introduction To Time Box Indicator Time Box Indicator is a must have indicator for any trader. It will display daily, weekly and Monthly box according to your preferences. Yet, you can extend any important price levels in your chart automatically. You can use them as the significant support and resistance levels. It is very simple but effective tool for your trading. Input for Time Box Indicator Graphic Setting Use White Chart Line Style for Current Open price Daily Setting Update Timefra
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Valentin Butorin
3893
Valentin Butorin 2020.07.23 14:20 
 

User didn't leave any comment to the rating

Evren Caglar
160
Evren Caglar 2020.07.09 14:48 
 

If you carefully observe and work on the price reversals,trend and the location this indicator appears, you will see this is a predictive indicator and does a good job. Overall I like it very much. Thank you for the developer, I use it on H1 time frame and it does an excellent job for me.

Davi Volpato
20
Davi Volpato 2019.08.23 01:26 
 

Use it with support and resistance lines, it's like magic :)

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