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Turning Point Detector MT4

5

Introduction To Turning Point Indicator

The trajectories of Financial Market movement are very much like the polynomial curvatures with the presence of random fluctuations. It is quite common to read that scientist can decompose the financial data into many different cyclic components. If or any if the financial market possess at least one cycle, then the turning point must be present for that financial market data. With this assumption, most of financial market data should possesses the multiple of turning points because they consists of many cyclic components typically. Here, we present the useful turning point detector not bullet proof but with reasonable accuracy for traders and investors.


Input Description

Our turning point detector consists of abnormal movement detection system (main) and market range detector (supplementary). Abnormal movement detection have following user inputs:

  • TimeFrameCalculation: Timeframe to perform abnormal movement detection.
  • BarsToScan: number of bars to apply the calculation
  • DetectionMethod: There are three detection methods you can choose.
  • AnalyzingPeriod: 13 is the default settings. Most of time, default setting works fine.
  • MinDeviationInPips (=Minimum Deviation in Pips): this is the minimum condition to be qualified for abnormal condition. Typically, it is good to use one standard deviation of that currency pairs.

To detect market range, you can use Market Profile or Bollinger Bands or something else if you wish, the market profile have the following user inputs:

  • Use Market Profile: true or false only. Set false, not to use Market Profile
  • Session: daily, weekly or monthly only
  • Sessions To Count: Number of sessions for which to count the Market Profile

To construct the Market Profile, user should select timeframe accordingly:

  • Daily Market Profile: M5 to H1 timeframe can be used. M30 is recommended.
  • Weekly Market Profile: M30 to H4 timeframe can be used. H1 is recommended.
  • Monthly Market Profile: H1 to D1 timeframe can be used. H4 is recommended.

There are also some other inputs:

  • UseWhiteChart: true of false to set white background or use default black background chart
  • UseSoundAlert: Use sound alert
  • UseEmailAlert: Use email alert
  • UseNotification: Use Push Notification
  • BullishColor: Bullish Colour
  • BearishColor: Bearish Colour
  • LabelOffsetInPercent: timeframe label (i.e. H1, H4, D1, etc) offset in percentage of chart height
  • ArrowWidth: directional arrow width
  • LineWidth: Width of line for abnormal movement marker (Set to 0, disable the marker)
  • DrawRectangle: Draw rectangle to market abnormal movement
  • FillRectangle: Fill Rectangle (true or false only)


How to Use

You might use the default setting for minimum deviation in pips. According to our experience, you can set sensible number for minimum deviation in pips such as one standard deviation or some commonly used values. For example, 20 pips (MinDeviationInPips) works well for major currency pairs in H1 timeframe. Detected abnormal movement is good sign of turning point. However, we recommend using it when the arrow appears reasonably outside the range. Also you might use several turning point detector with several time frame to one chart. For example, you can apply our Turning Point Detector in H1 and D1 timeframe to one chart. When you use multiple timeframe calculation, you must use sensible timeframe for Market profile too.


Trading Strategy Guide

Must understand that our Turning Point Detector is not the bullet proof system. If this system is carefully used with additional judgement, then this can become your favourite turning point indicator and can become part or all of your strategy. Please check it in the strategy tester before buying. You can use our Turning Point Detector alone or you can combine the Turning Point Detector with any of below trading system:

Volume Spread Analysis

Harmonic Pattern Detection Indicator

Momentum Indicator

Supply Demand Indicator

Triangle Pattern, Falling Wedge Pattern, Rising Wedge Pattern and Channel

Elliott Wave Indicator


Important Note

This is the off the shelf product. Therefore, we do not accept any modification or customization request on this product. In addition, we do not provide any code library or any support for your coding for this product.


Comentários 4
jerrylew2020
294
jerrylew2020 2022.09.22 12:15 
 

I have been using this indicator for for almost a year. It gives me a lot of good information. This indicator helps me to make better trades, especially reversals. I would recommend this product.

Iwan Iskandar
707
Iwan Iskandar 2016.11.26 17:34 
 

Thank you for this excellent indicator. Excellent tool for setting up my take profit target.

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Ultimate Gold Advisor para MetaTrader 4 O Ultimate Gold Advisor é uma ferramenta tecnológica avançada projetada para otimizar a experiência de negociação no MetaTrader 4. Criado para atender às necessidades de traders experientes, este indicador combina precisão, análise sofisticada e funcionalidade versátil, oferecendo suporte para decisões de negociação informadas. Ideal para negociação de ouro, mas aplicável a uma ampla gama de ativos, o Ultimate Gold Advisor pode ajudá-lo a melhorar suas es
Order Block Hunter
Noha Mohamed Fathy Younes Badr
5 (6)
Order block hunter indicator is the best indicator for  hunt the order blocks that area where there has been a large concentration of limit orders waiting to be executed Order blocks are identified on a chart by observing previous price action and looking for areas where the price experienced significant movement or sudden changes in direction .This indicator does that for you by using very complicated codes and helps you to take the best areas To buy and sell because it make marks at the best a
Sneaky Busters 4
Mushfiq Faysal
5 (2)
Previous Price : $323.00 Current Price: $359.00 Future Price: Will increase soon NOTICE Please DO NOT buy this indicator if you are just learning about smart money movement . You need to have some experience with accumulation and distribution to fully grasp the gravity of this indicator. Since smart money does not play by the book , so this indicator was only developed to find their trail that they did not bother to hide . If the signals do not correspond to your trading style, this is not the
Cycle Sniper
Elmira Memish
4.39 (36)
NEW YEAR SALE PRICE FOR LIMITED TIME!!! Please contact us after your purchase and we will send you the complimentary indicators to complete the system Cycle Sniper is not a holy grail but when you use it in a system which is explained in the videos, you will feel the difference. If you are not willing to focus on the charts designed with Cycle Sniper and other free tools we provide, we recommend not buying this indicator. We recommend watching the videos about the indiactor and system before pu
ACTUALMENTE COM 26% DE DESCONTO A melhor solução para qualquer novato ou comerciante especializado! Este Indicador é uma ferramenta comercial única, de alta qualidade e acessível, porque incorporámos uma série de características proprietárias e uma nova fórmula. Com apenas UM gráfico, pode ler a força da moeda para 28 pares de Forex! Imagine como a sua negociação irá melhorar porque é capaz de apontar o ponto exacto do gatilho de uma nova tendência ou oportunidade de escalada? Manual do u
Advanced Supply Demand
Bernhard Schweigert
4.91 (295)
Atualmente com 33% de desconto! A melhor solução para qualquer Trader Novato ou especialista! Este indicador é uma ferramenta de negociação exclusiva, de alta qualidade e acessível porque incorporamos uma série de recursos proprietários e uma nova fórmula. Com esta atualização, você poderá mostrar fusos horários duplos. Você não só será capaz de mostrar um TF mais alto, mas também mostrar ambos, o TF do gráfico, MAIS o TF mais alto: MOSTRANDO ZONAS ANINHADAS. Todos os traders de Oferta e Demanda
TrendMaestro
Stefano Frisetti
5 (3)
note: this indicator is for METATRADER4, if you want the version for METATRADER5 this is the link:  https://www.mql5.com/it/market/product/108106 TRENDMAESTRO ver 2.4 TRENDMAESTRO recognizes a new TREND in the bud, he never makes mistakes. The certainty of identifying a new TREND is priceless. DESCRIPTION TRENDMAESTRO identifies a new TREND in the bud, this indicator examines the volatility, volumes and momentum to identify the moment in which there is an explosion of one or more of these data a
PipFinite Volume Critical
Karlo Wilson Vendiola
4.59 (27)
Volume Gives Depth To Price Action! Volume Critical can accurately locate the cheapest areas to place trades. Enter reversals as early as possible to get the best Risk Reward setups! Features Aggressive algorithm that anticipates reversals Volume Classifications Gray Histograms - Normal Volume, average market activity Orange Histogram - Trending Volume, increased market activity Pink Histograms - Overbought Volume, we can wait for further confirmation to sell Blue Histograms - Oversold Condit
Up down v6T
Guner Koca
5 (2)
Thise indicator is up down v6  comes with tradingwiev pinescript. purchased people, after installed on terminal ,contact me on mql5  to get BONUS  TradingView pinescript. up-down indicator is no repaint and works all pairs and lower than weekly time frames charts. it is suitable also 1 m charts for all pairs. and hold long way to signal. dont gives too many signals. when red histogram cross trigger line that is up signal.and price probably will down when blue histogram cross trigger line that
ACTUALMENTE 31% DE DESCONTO!! A melhor solução para qualquer novato ou comerciante especializado! Este indicador é uma ferramenta comercial única, de alta qualidade e acessível, porque incorporámos uma série de características proprietárias e uma fórmula secreta. Com apenas UM gráfico, dá alertas para todos os 28 pares de moedas. Imagine como a sua negociação irá melhorar porque é capaz de identificar o ponto exacto de desencadeamento de uma nova tendência ou oportunidade de escalada! Con
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jerrylew2020
294
jerrylew2020 2022.09.22 12:15 
 

I have been using this indicator for for almost a year. It gives me a lot of good information. This indicator helps me to make better trades, especially reversals. I would recommend this product.

Alfredo Sabatini
387
Alfredo Sabatini 2017.01.07 20:21 
 

O usuário não deixou nenhum comentário para sua avaliação

Iwan Iskandar
707
Iwan Iskandar 2016.11.26 17:34 
 

Thank you for this excellent indicator. Excellent tool for setting up my take profit target.

nguyenphanduc
198
nguyenphanduc 2016.08.18 13:14 
 

O usuário não deixou nenhum comentário para sua avaliação

Responder ao comentário
Versão 2.1 2021.12.02
In version 2.1, we made some minor improve on the Turning Point Detector. How to use it is exactly the same as the previous version 2.0. If you do not want to use the white chart background, then please set UseWhiteChart = false before attaching the indicator to the chart.