Technical Indicators for MetaTrader 5
Shopping cart
The cart is empty
MetaTrader 5
Top Rated Products MT5
Overview
Modern Spike Indicator Features:
1. Support and Resistance Lines: Displays dynamic horizontal dashed lines on the chart representing current support and resistance levels calculated from recent price swings.
2. Spike Detection Arrows: Shows up arrows (green) for potential upward spikes and down arrows (red) for potential downward spikes, triggered when price breaks S/R levels with RSI confirmation.
3. Trend Analysis: Incorporates ADX (Average Directional Index) to determine market trend strength and direction.
4. Trend Graph: Visualizes trend as a color-coded histogram:
- Green: Uptrend
- Red: Downtrend
- Gray: Neutral/Sideways market
5. Prediction Features: Provides dotted lines for predicted next support and resistance levels based on current trend and price range.
6. Moving Average: Includes a simple moving average line for additional trend smoothing and reference.
7. RSI Integration: Displays RSI (Relative Strength Index) line for momentum analysis, used in spike detection logic.
8. Trend-Refined Arrows: Spike arrows are filtered by trend direction to improve signal accuracy (e.g., up arrows only in uptrends or neutral markets).
9. Customizable Inputs: Adjustable periods for S/R calculation, RSI, MA, and ADX to suit different trading styles and timeframes.
10. Chart Overlay: All elements displayed directly on the price chart for easy visualization and decision-making.
This indicator combines multiple technical analysis tools to provide comprehensive market insights for identifying potential trading opportunities and trend continuations.
