The Boom and Crash Spike Detector indicator for Metatrader 5 was mainly developed to trade boom and crash indices with great accuracy.
Boom and Crash are indices and include Boom 500, Boom 1000, Crash 500 and Crash 1000.
The indicator also works on all currency pairs and might be useful for scalping purposes, just try it!
The indicator gets displayed on the main MT5 chart as simple to use blue buy and red sell arrows.
The indicator combines support & resistance levels with moving averages, price divergence and price action strategies in a bid to predict the potential spike.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
Buy & sell signal:
- A new buy signal is given when the blue “Boom and Crash” arrow appears on the chart.
- A new sell signal is given when the red “Boom and Crash” arrow appears on the chart.
The indicator works equally well on all trading instruments displayed on the MT5 trading platform and shows promising results if used correctly.
Free Download:
Download the “boom-crash-spike-detector.ex5” indicator for MT5
Indicator Example Chart (EUR/USD M15)
The picture below shows the Boom and Crash Spike Detector indicator in action on the trading chart.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 5 (MT5)
Currency pairs: Works for any pair and Boom and Crash indices
Time frames: Works for any time frame
Trade Style: Works for scalping and Boom and Crash trading
Input Parameters: How many bars to calculate on? Number of bars to seek high/low?, Percentage distance to consider new high/low? color settings & style
Indicator type: Crash & Boom
Does the indicator repaint? No.
Download Now:
Download the “boom-crash-spike-detector.ex5” indicator for Metatrader 5
How to install this indicator on Metatrader 5?
Open the Metatrader 5 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL5”
Now double click on “Indicators”
Paste the boom-crash-spike-detector.ex5 indicator in the Indicators folder.
Finally restart the MT5 platform and attach the indicator to any chart.
How to remove the indicator?
Right click with your mouse on the chart that you have the indicator attached to.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse on the chart that you have the indicator attached to.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.