Extreme Spike MTF Indicator MT4
- Indicatori
- Eda Kaya
- Versione: 1.3
Extreme Spike MTF Indicator for MetaTrader 4
The Extreme Spike MTF Indicator for MetaTrader 4 scans across multiple chart timeframes to detect sudden price movements with high intensity. It visually marks strong bearish impulses in red and strong bullish impulses in blue, giving traders clear insight into critical price events.
This tool is especially suitable for those aiming to pinpoint precise moments to enter or exit the market.
«Indicator Installation & User Guide»
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Indicator Table
| Category | Volatility Analysis - Oscillator - Price Behavior |
| Platform | MetaTrader 4 |
| Skill Level | Intermediate to Advanced |
| Indicator Type | Trend Reversal - Continuation |
| Timeframe | Multi-Timeframe Compatible |
| Trading Style | Day Trading |
| Market | Forex - Cryptocurrency - Stock Market |
General Description
The core functionality of the Extreme Spike MTF Indicator for MetaTrader 4 lies in its ability to detect abrupt highs and lows within the market.
These drastic moves often reflect turning points or temporary retractions in price. By incorporating signals from several timeframes, this indicator boosts the reliability of its detection and allows traders to assess both micro and macro trends more efficiently.
Alongside identifying strong (major) spikes, it also captures milder (minor) price impulses for enhanced strategy planning.
Bullish Market Behavior
In downward-trending conditions, the indicator flags sharp drops (negative spikes), reinforcing the current bearish environment.
These negative impulses often point to selling exhaustion and the possibility of a bullish reaction. Traders looking for entry positions can combine these signals with confirmation tools to strengthen buy setups at potential market bottoms.
Bearish Market Behavior
In contrast, during upward trends, the indicator spots extreme highs (positive spikes), which can precede downward reversals.
These positive spikes usually highlight diminished buying momentum. As the market stabilizes near the top, the chance of a bearish transition grows. Traders can interpret these signals as early signs for opening short positions when supported by other indicators.
Indicator Configuration Options
- Chart Theme: Determines the visual background of the chart.
- Timeframe: Sets the analysis timeframe; default is current chart.
- Repaint Off: Turns off repainting for consistent signal accuracy.
- Major Extreme ATR Factor: Defines the spike size for major signals relative to average ranges; default is 2.
- Major Minor Ratio: Sets the relation between major and minor spike bars; default value is 2.
- Minor Extreme Width: Determines the width (range) of the minor spike candles; set to 2 by default.
- Major Extreme Width: Width definition for major spike candles; also defaulted at 2.
- Major Low Alert: Triggers an alert when a major low spike appears.
- Major High Alert: Alerts for a major spike at higher levels.
- Minor Low Alert: Enables alerts for minor price lows.
- Minor High Alert: Activates alerts for minor price highs.
- Stable Alert: Notifies users when stable spike patterns form.
Conclusion
The Extreme Spike MTF Indicator for MetaTrader 4 is a highly useful asset for recognizing key price extremes in real time.
It enables traders to better interpret short-lived volatility and determine potential reversals or continuations. By blending major and minor spike signals with multi-timeframe analysis, it enhances both precision and confidence in trading decisions.
