Summary of Extreme Spike MTF Indicator for MetaTrader 5/4 Download - Free - [TFlab]
Video Tutorial Summary
The video tutorial discusses the Extreme Spike Multi-Time Frame (MTF) Indicator available for download on the Trading Finder website for MetaTrader 4 and 5 platforms. Key features and functionalities of the indicator include:
- Installation and Setup:
- Users can download the indicator file and apply it to their charts by checking the "allow DLL imports" option.
- After installation, a five-digit oscillator appears at the bottom of the chart.
- Indicator Functionality:
- The Extreme Spike Indicator identifies price spikes using the Average True Range (ATR), categorizing them into minor (2x ATR) and major spikes (5x ATR).
- Downward spikes are marked in blue, while upward spikes are shown in orange. Empty spikes indicate minor spikes.
- Display Settings:
- The indicator offers three display themes: light, dark, and custom.
- Users can customize the time frame for calculations (e.g., 15 minutes, 1 hour, or 4 hours), which adjusts the oscillator accordingly.
- Repaint Mode:
- The indicator includes an option to enable or disable repaint mode, which affects how spikes are displayed.
- Alerts can be set for major and minor spikes, with options to toggle these alerts on or off.
- Alerts and Notifications:
- Users can receive alerts only on candle close to avoid multiple alerts within a single candle.
- Market Trend Analysis:
- By identifying spikes, traders can determine market trends and potential reversal points.
The tutorial concludes by inviting viewers to leave comments and suggestions.
Main Speaker
- The video is presented by TFlab, who guides viewers through the installation and usage of the indicator.
Notable Quotes
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Category
Technology