Spike Detector with SuperTrend MT5
is a trend following system that can be interpreted in two ways spike hunting with renko spike bar MT5 or in the classic way in relation to trend, then open trades that agree with the main
Type Strategy, Price Action and
Style day trading and
Time Frame 1 minute or
Currency pairs: majors, minors
4 ma candles 25 perids
Stochastic oscillator (8, 3,
In the same window RSI (13) with
Trading rules Catch Spike see
1. alert of possible spike appearance.
2 Fischer begins to agree
3 Stochastic begins to crosses upwards
4 RSI approaches level 30
5 The blue bar of the Min-Max indicator shows us that the trend is important.
6 Heiken Ashi smoothed (blue) agrees with the main trend
7 Arrow Min Max informs us that the main trend could change
1. alert of possible spike
2 Fischer begins to agree (red bar)
3 Stochastic begins to crosses downwards
4 RSI approaches level 70
5 The red bar of the Min-Max indicator shows us that the trend is important.
6 Heiken Ashi smoothed (red) agrees with the main trend
7 Arrow min Max informs us that the main trend could change.
SuperTrend with Min-Max
Place initial stop loss below/above
the supertrend line.
Close position at opposite signal
or with at level support/resistance.
Note for experts - At time frame 15 or higher you can use the spike indicator to enter the trend when the candle retraces near the super trend line for
confirmation you can use the stochastic to insert in the template. Stochastic setting (5,3,3, close).