Spike Detector MT5 Trading System
Spike Detector System
Support and Resistance as Filter
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.
thomi (Tuesday, 29 December 2020 11:55)
is very good sir thanks
usman (Saturday, 26 December 2020 18:54)
i was unable to download the file. pls help
Martha (Monday, 14 December 2020 16:13)
Absolutely good straegy! Works on all tf.
Pjetr (Monday, 14 December 2020 10:48)
spike detector and spartan repaint. look on 1 minute chart.