Extreme Peaks Indicator Download for MetaTrader 4 - Free | Forex Indicator Download - MT4/MT5 Resource

The Extreme Spikes Indicator for the MetaTrader 4 (MT4) platform, its oscillations are based on the Average True Range (ATR) . This MT4 volatility indicator helps traders identify severe market moves. An important feature of this tool is to identify candlesticks that move more than twice the ATR value at the 250 period setting.

The indicator displays major spikes , with blue representing excessive downward movements and red representing excessive upward movements. This tool is particularly useful in volatile markets as it can alert traders to sudden and unexpected price changes, allowing them to make more informed decisions.

In addition to Major Spikes , the indicator also shows Minor Spikes , which represents less severe price fluctuations.

Indicator Table

Indicators at a glance

The Maximum Peaks indicator is a practical oscillator designed to identify sharp fluctuations in candlestick patterns on a chart. Using its special algorithm and precise calculations, it detects candles with extreme volatility and classifies them into primary and secondary spikes .

This trading tool helps traders recognize unusual market movements and make more accurate analyzes based on this information.

Downward Spike

In the 15-minute EUR/USD chart, the Extreme Spike indicator identified significant volatility, showing a blue tint on the downward spike oscillator. After this large move, the market trend reversed and moved upward.

Upward Spike

In the 15-minute USD/JPY chart, the Extreme Spike indicator identified significant volatility, showing an upward spike in red on the oscillator. After this large move, the market trend reversed and moved downwards.

Indicator Settings

• No Repaint: Prevents the indicator from repainting.
• Minor minimum limit height ATR: Defines how many times the candlestick length should be higher than ATR to be considered a minor peak.
• Major to Minor Height Ratio: Sets the ratio of the major peak candlestick length to the minor peak candlestick length.
• Minor Minimum Limit Width: Defines how many candles the minor spike is valid for.
• Main Minimum Limit Width: Defines how many candles the main peak is valid for.
• Alert Major Bottom Enabled: Alerts when a major downward spike occurs.
• Alert Major Top Enabled: Alerts when a major upward spike occurs.
• Alert Minor Top Enabled: Alerts when a small upward spike occurs.
• Alert Minor Bottom Enabled: Alerts when a slight downward spike occurs.
• Alert Stabilization Enabled: Alert for all stable spike candlesticks.

Summary

The Extreme Spikes Indicator is an ideal oscillator for traders looking to identify price reversal points . Using the Average True Range (ATR) , this Price Action style indicator accurately displays price reversal points on the chart, allowing traders to identify significant changes in price trends.