Roadmap V04 Indicator in MetaTrader 4 – Free Download [TradingFinder]

The Roadmap V04 indicator is one of the tools for advanced technical analysis by providing a structured visual framework for analyzing and predicting price action.

This indicator focuses explicitly on the wave structure of the price, combining elements such as market trends, key retracement areas, and Fibonacci levels to create optimal areas for entering buy and sell trades.

Roadmap V04 indicator table

The table below describes the general characteristics of the roadmap V04 indicators.

Roadmap V04 Indicators Overview

The Roadmap V04 indicator automatically plots bullish and bearish waves, clearly and accurately presenting price action structure:

• The blue line indicates buyer strength and the formation of a bullish trend
• The purple line indicates seller dominance and a declining market

This wave structure can intuitively identify pivot points and trend change areas. Fibonacci retracement levels are shown as horizontal orange lines with support and resistance levels used as needed.

The recommended buy and sell entry areas are also highlighted with blue and red lines respectively.

bullish trend indicator

The chart below shows the gold spot price (XAU/USD) on a 30-minute time frame. In a bullish case, the formation of an upward sloping wave with a continuous blue zigzag line marks the beginning of an uptrend.

At the same time, the emergence of a green line near key Fibonacci levels such as 76.4% strengthens the likelihood of continued gains. Additionally, the gradually rising highs and lows of the swings confirm the bullish market structure.

Bearish trend indicator

The chart below shows the BNB Cryptocurrency Index on the 1-hour time frame. In a bearish scenario, the formation of a downward sloping purple line within a wave structure signals selling pressure and the beginning of a downward trend in the market.

Once the price reaches a resistance zone or one of the Fibonacci retracement levels, a red line appears, indicating a suitable area to enter a sell trade.

Roadmap V04 indicator settings

The image below shows the settings panel of the Roadmap V04 indicator in MetaTrader 4:

• Max_Bars : Maximum number of candles
• Clr_Series_Up : Color of bullish waves
• Clr_Series_Dw : Bearish wave color
• Clr_Tail_ZZ : ZigZag tail color
• Clr_Fibo : Fibonacci level color
• Clr_Prob_UP : Probability of color moving upward
• Clr_Prob_DW : Probability of color moving downwards
• On_Nom_Series : Enable waveform structure display
• On_Fibo : Enable Fibonacci levels
• Sound : Audio alert
• Alert_On : Text alert

Conclusion

The Roadmap V04 indicator is a special tool for analyzing the structure of market price fluctuations. It displays trend and reversal areas by automatically drawing waves, Fibonacci levels and color-coded signals.

This trading tool is convenient for both trend following and reversal trading across multiple timeframes.