Unicorn Indicator MT5
- Indikatoren
- Eda Kaya
- Version: 1.11
Unicorn Indicator MT5
The Unicorn Indicator is a sophisticated MetaTrader 5 tool designed to identify price gaps and highlight them using Breaker Blocks on the price chart. A Breaker Block represents an order block that initially gets broken but later acts as a strong support level when the price revisits it. A Unicorn zone emerges when a Breaker Block coincides with a Fair Value Gap (FVG). The indicator visually marks bullish Unicorn zones in green and bearish Unicorn zones in red, displaying them as rectangular areas on the chart.
«Indicator Installation & User Guide»
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Indicator Specifications Table
Category | ICT – Smart Money |
Platform | MetaTrader 5 |
Skill Level | Advanced |
Indicator Type | Reversal – Continuation |
Time Frame | Multi Time Frame |
Trading Style | Scalping – Day Trading |
Markets | Cryptocurrency – Forex – Stocks – Commodities |
Indicator Overview
The Unicorn Indicator utilizes a zigzag approach to evaluate market highs and lows. It detects areas where a Breaker Block aligns with a price gap, automatically marking these as Unicorn zones. These zones serve as crucial areas for price reversals and trading opportunities. The indicator is particularly beneficial for traders who apply ICT and Smart Money concepts in their strategies.
Unicorn Indicator in an Uptrend
On a 1-hour XAU/USD price chart, an Order Block is breached by a strong move, converting it into a Breaker Block. When this Breaker Block overlaps with an FVG, the Unicorn zone is formed. The indicator identifies and marks this zone on the chart. When the price revisits this area, it provides a favorable condition for initiating buy trades.
Unicorn Indicator in a Downtrend
In a 4-hour Ethereum (ETH) price chart, an Order Block breaks due to significant market movement, transitioning into a Breaker Block. When this overlaps with an FVG, the Unicorn zone is established. The indicator automatically detects and marks this area on the chart. The price returning to this region signals a potential opportunity for initiating sell trades.
Indicator Settings
- Chart and Object Theme: Light background theme for clarity
- Past Candle Calculation: Set to analyze the last 1000 candles
- Object Prefix: Customizable object prefix configuration
- Level 1 Trends: Enabled for trend visibility
- Level 2 Trends: Enabled for a more detailed trend perspective
Conclusion
The Unicorn Indicator for MetaTrader 5 is an advanced tool tailored for market analysis. It not only identifies Fair Value Gaps (FVGs) but also recognizes Breaker Blocks and their intersection, known as the Unicorn zone. This indicator is highly valuable for traders utilizing liquidity-based strategies and seeking precision in their trading decisions.