Spike Trap

Spike Trap is a simple but powerful tool that identifies sharp market spikes and waits for price pullbacks to highlight high-probability entry and exit zones. By combining volatility detection with smart retracement logic, it helps traders capitalize on fast price moves with precision and reduced risk. Ideal for scalping or long-term trading in volatile markets.

Spike Trap can be used to trade Synthetic indices such as Boom and Crash, volatility indices offered by Deriv Broker as well as Pain and Gain, FX Vol indices offered by the Weltrade Broker. All you do is switch strategy under settings. Also reliable tool for currency traders looking for a mean reversion tool to boast their entry strategies in the market.

Features

1) No Repaint, no lagging indicator 

2) Strategy: Select the indices you wanto trade for spikes (Either Boom index/Gain index or a Crash                                   index/Pain index or Buy_Sell).

       The Buy & Sell option under the strategy permits you to get both Buy and Sell signals should

        incase you are trading an asset other than spike catching (Boom or Crash). Suitable for Volatility indices, currencies and crypto.

3) Depth : The new Depth setting allows you to control how swing points are calculated. A lower Depth value produces closer swing points (smaller stop loss distance), while a higher value generates wider levels.

4) Alerts: Spike Trap comes with MT5 notification and mobile notification alerts which signals when there i an incoming signal. Just set the notifications settings to true to get instant notifications alerts. If you do not know how to configure mobile notification, inbox for assistance.

Extras (How to trade)

To trade efficiently, you will need to take only  strong trending markets for better accuracy. The modified moving average line on the screen calculates both the slop and direction of  the market to determine trend direction and strength based on its inbuilt customizable coloring system.

    a) A completely green Moving average line by default indicates a strong Bullish trend. Look only for buy arrow signals.

    b) A completely red Modified Moving average by default line indicates a strong Bearish trend. look only for Sell arrow signals.

     c) A grey line indicates a flat/ranging market. Not the best for taking trades.

 Stop lose levels: Place your stop lose on the last swing low (for Buy trades) indicated by red dot  or last                                    swing high (for Sell trades) indicated by aqua colored dot

Recommended Timeframe: you can use any timeframe of your choice. Higher timeframes best for intraday/swing traders and lower timeframes for scalpers. 

Pairs to trade: Any Boom and Crash or Pain and Gain synthetic indices . For currencies, crypto  and volatility indices trading, Switch strategy settings to Buy_Sell. 

For any kind of assistance, do not hesitate to inbox the developer through mql5 massage box or telegram  @Elvmcc.