Roadmap V04 Indicator in MetaTrader 5 – Free Download [TradingFinder]

The Roadmap V04 indicator, as one of the important technical analysis tools, is designed to provide precise and structured visualization of price changes in the MetaTrader 5 platform.

This trading tool focuses on wave patterns, identifying key elements such as trend direction, retracement areas and Fibonacci levels and displaying them with clear analytical lines.

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, showing price action structure consistently and accurately.

The blue and purple lines represent the strength of buyers and sellers respectively, defining the direction of the trend.

Fibonacci levels are shown as orange lines marking key support and resistance zones , while green and red lines indicate buy and sell entry zones.

bullish trend indicator

The chart below shows the EURUSD Index on the 1 hour time frame. In a bullish trend, the formation of a positive sloping wave with a blue zigzag line marks the beginning of an uptrend.

Meanwhile, the green line shown near key Fibonacci levels signals the possibility of trend continuation and marks potential buy entry areas.

Bearish trend indicator

The chart below shows the Australian Dollar/Japanese Yen (AUD/JPY) currency pair on the 1 hour time frame.

In a bearish scenario, the formation of a negative sloping purple line indicates the onset of selling pressure and the beginning of a downtrend.

If the price reaches resistance or Fibonacci retracement levels, a red line will appear, marking a suitable sell entry area.

Roadmap V04 indicator settings

The picture below shows the settings panel of Road Map V04 Indicator:

• Max_Bars : Maximum number of candles
• Clr_Series_Up : Bullish wave color
• Clr_Series_Dw : Bearish wave color
• Clr_Tail_ZZ : ZigZag tail color
• Clr_Fibo : Fibonacci level color
• Clr_Prob_UP : Uptrend probability indicator color
• Clr_Prob_DW : Downtrend probability indicator color
• On_Nom_Series : Enable waveform structure display
• On_Fibo : Enable Fibonacci levels
• Sound : Audio alert
• Alert_On : Text alert

Conclusion

The Roadmap V04 indicator on MetaTrader 5 provides precise visualization of the structure of price movements through wave analysis combined with Fibonacci levels .

The tool uses color-coded lines to define trend direction and marks entry and exit points with green and red lines respectively.