Spike Detector MT5 Trading System

Submit by Alexander

Spike Detector MT5 Trading System is a Price Action based Spike Detector indicator which looks for price spikes as a probable sign of the end of a trend and reversal when combined with support and resistance levels. In fact in the trading system as confirmation of the signals generated by the Spike Detector there is a support and resistance indicator and two short trends, to understand if the signal generated by the spike Detector can be valid.

In other words, there is a signal with two confirmations. the interpretation can be more or less aggressive according to the number of confirmations, generally the higher the time frame the less confirmations are needed, and vice versa. Here we show the setup of the most aggressive version of the system for time frame 30 min or higher.

Setup trading system

Time Frame  1 min or higher.

Currency pairs: any.

Metatrader Indicators 5

Colour Trend period 26.

Spike Detector

Support and Resistance indicator

Spartan spears period 10.

Trading rules Spike Detector MT5 Trading System

Buy

Spike Detector buy arrow below candle.

Spartan Spears (green bar).

Optional condition

Price in support zone.

Sell

Spike Detector sell arrow above candle.

Spartan Spears (red bar).

Optional condition

Price in resistance zone zone.

Exit position 

Place initial stop loss below the previous swing High/Low.

Exit at opposite Spike Detector Arrow

Profit Target minimum ratio 1:1.2.

Examples of Trades

Telegram Channel:https://t.me/freeforexresources

Share your opinion.