Extreme Spike MTF indicator download for MetaTrader 5 - Free - [TFlab]

The Extreme Peaks MTF Indicator is a practical and powerful tool among MetaTrader 5 indicators designed to identify sudden market peaks and troughs, alerting traders to potential trend changes or price reversals.

By analyzing data across multiple time frames, Extreme Spike MTF provides high accuracy in assessing short-term and long-term fluctuations.

Indicator Table

Indicator Overview

This indicator displays both Major Spikes and Minor Spikes , each serving a different purpose. Major Spikes highlight excessive bearish volatility red and excessive bullish volatility blue , signaling significant market moves. In contrast, Minor Spikes represent less dramatic price changes, providing insight into more subtle market changes.

This indicator is particularly effective in volatile markets, alerting traders to unexpected sharp price changes, significantly improving decision-making accuracy.

Indicators in a Bullish Trend

In a bullish trend, the Extreme Peaks MTF indicator identifies key price reversal points.

As the chart of the AUD/NZD currency pair on the 30-minute time frame shows, prices have bounced back from the downturn, signaling the possibility of a bullish trend.

The indicator highlights negative peaks, alerting traders to potential upside momentum.

Indicators in a Bearish Trend

On the 4-hour chart of the AUD/USD pair, the indicator emphasizes the bearish momentum by highlighting an upward peak.

By accurately detecting these bullish peaks, this indicator alerts traders to potential bearish trends, helping them to exit trades promptly or avoid false entry points in bearish environments.

Indicator Settings

• Chart Theme: The background theme of the indicator;
• Timeframe: selected time range, default is 0;
• Repaint Off : Set to disable repaint;
• Major extreme ATR factor: The length of the major peak candlestick is a multiple of the minor peak; default is 2;
• Major Minor Ratio: The ratio of the minor peak to the major peak candlestick; the default is 2;
• Secondary extreme width: calculates the candlestick width of the small peak; the default is 2;
• Main Extreme Width: Calculates the candlestick width of the main peak; default is 2;
• Major Low Alert : Enables alerts to detect major spikes at lows;
• Major High Alert : Enables alerts to detect major spikes in high points;
• Minor Low Alert : Enables alerts to detect small spikes at lows;
• Minor High Alert : Enables alerts to detect small spikes at high points;
• Stable Alert alerts you to stable peak candlesticks.

Conclusion

The Extreme Peaks MTF Indicator is a powerful tool in MetaTrader 5 Oscillator for identifying sudden market peaks and troughs.

By analyzing multiple timeframes , this indicator detects sharp bullish and bearish swings , allowing traders to find optimal entry and exit points in volatile markets.