Spike Detector Trend Trading Strategy Is a system for the MetaTrader 5 terminal, which is based on the search for price jumps as a probable sign of the end of a trend and a reversal, in combination with support and resistance levels.
Input parameters
- Currency pairs: any
- Timeframe: М30 and older
- Trading time: any
- Risk management: choose a lot size such that the risk is no more than 2-5% of the deposit per trade
Indicators used
- Color Trend (26)
- Spike detector
- Support and Resistance indicator
- Spartan spears (10)
Installing indicators and system template
- Unpack the archive with templates and indicators
- Copy the indicators to the MQL5 folder -> Indicators
- Copy templates to MQL5 folder -> Profiles-> Templates
- Restart the terminal
- Opening the chart of the required currency pair
- Install a template named Spike Detector MT5 Trading System
The graph should look like this:
Spike Detector Trading Strategy Template
Signals indicating the opening of a buy position
- a blue arrow appeared under the candle;
- bars of the oscillator Spartan spears are green;
- the price is in the support zone or pushes up from it.
Example of entering a buy trade
Signals indicating the opening of a sell position
- a red arrow appeared above the candle;
- the bars of the Spartan spears oscillator are red;
- the price is in the resistance zone or is pushed down from it.
Example of entering a sell trade
Setting stop loss and take profit
- stop loss is set above / below the previous local maximum / minimum;
- take profit is set at a ratio of 1.2: 1 to stop loss. When the opposite arrow appears, it is recommended to close the deal.
Before use trend trading strategy Spike Detector for MT5 on a real deposit, we recommend testing it on a demo account.
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