Market Structure Trend Targets MT5 Scanner
- Indicators
- Duc Hoan Nguyen
- Version: 1.0
- Activations: 10
I. Introduction
Market Structure Trend Targets Scanner is a powerful tool for analyzing market trends, identifying breakout points, and managing risk via a dynamic stop loss. By tracking previous highs and lows to pinpoint breakouts, this tool helps traders quickly recognize market trends and potential reversals in an intuitive manner.
See more MT4 version at: Market Structure Trend Targets MT4 Scanner
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II. Key Features
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Identify Breakout Points with Sequential Numbering
- Clearly distinguishes uptrends when price breaks above a previous high and downtrends when price breaks below a previous low.
- Marks the initial breakout with the entry price, while subsequent breakouts are labeled (1, 2, 3…) to indicate the strength or continuation of the trend.
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Option to Display Percentage Changes
- Toggle on or off the percentage change from the first breakout point to each subsequent breakout.
- Helps measure trend momentum and supports decision-making for taking profit or adjusting positions effectively.
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Dynamic Stop Loss Based on Trend
- In an uptrend, the stop loss is placed below the price to safeguard gains.
- In a downtrend, the stop loss is positioned above the price to limit risk.
- When price breaks the stop loss level, the tool signals a potential trend reversal or indicates the current trend may have ended.
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Mean Reversion Signals
- Displayed as a triangle arrow icon if price breaks the stop loss and then returns to the main trend (up or down).
- Suited for counter-trend strategies in volatile or unpredictable market conditions.
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Alerts
- Automatically sends notifications when a breakout occurs, the price breaches the stop loss, or a mean reversion signal appears.
- Ensures traders do not miss critical market developments by offering customizable alerts (on-screen, email, or message).
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Scanner
- Rapidly scans multiple markets (currency pairs, stocks, commodities, etc.) to find potential trading opportunities.
- Saves time by streamlining the search process, removing the need to monitor each individual chart.
III. Main Settings
- Length: Number of bars used to determine pivot highs/lows for detecting breakouts.
- Display Percentage: Option to show either sequential breakout numbering or the percentage change from the initial breakout point.
- Color Customization: Allows users to customize chart background colors for uptrends and downtrends according to personal preference.
IV. Benefits for Traders
- Enhanced Trading Performance: Helps pinpoint clearer entry and exit points aligned with market trends.
- Better Risk Management: Dynamic stop loss reduces unexpected losses and protects accumulated gains.
- Real-Time Alerts: Ensures traders take advantage of newly formed signals without delay.
- Time-Saving Scanner: Searches multiple markets simultaneously, reducing the need for constant manual chart monitoring.
V. Conclusion
Market Structure Trend Targets Scanner is a comprehensive solution for both trend-following and counter-trend trading styles. Its features—clearly labeled breakouts, optional percentage change display, dynamic stop loss, mean reversion signals (triangle arrow icons), Alerts, and Scanner—allow traders to boost efficiency, mitigate risk, and adapt promptly to market fluctuations.
