Peak Trough Analysis Tool MT5
Peak Trough Analysis is the great tool to detect peaks and troughs in your chart automatically. Peak Trough Analysis tool can use three different peaks and troughs detection algorithm. The three algorithm include the orignal Fractal Indicator by Bill Williams, the Modified Fractal indicator and ZigZag indicator. You can use this peak and trough analysis tool to detect the price pattern made up from Equilibrium Fractal-Wave process. For further usage, there are good guide line on how to use this peak trough analysis tool in the chapter 11 in the book: Financial Trading with Five Regularities of Nature - Scientific Guide to Price Action and Pattern Trading (Amazon link for the book: https://www.amazon.com/dp/B073T3ZMBR). This is a free tool and you can use this powerful tool for your own benefit at your own risk.
- Peak Trough detection with the original Bill Williams Fractal indicator
- Peak Trough detection with the Modifed Fractal indicator
- Peak Trough detection with Zig Zag indicator
- Great tool to detect price patterns made up from the Equilibrium Fractal-Wave process
- Alert Features for peak and trough detection
How to Use
You can use in three mode.
- Mode 1: The fractal indicator by Bill Willams
- Mode 2: The Modified Fractal indicator
- Mode 3: Zig Zag indicator
To use Modified Fractal Indicator algorithm, Set “Use Modified Fractals” = true.
To use for Zig Zag indicator algorithm, Modified Fractals = false
To use the original Fractal Indicator algorithm by Bill Williams, Set “Use Modified Fractals” = true. Set N left = N right = 2.
1. Modified Fractal Setting
- N left: N = number of bars counting to left
- N right: N = number of bars counting to right
2. Zig Zag Setting
Use default setting unless you are familiar with Zig Zag indicator
- ZigZag Depth
- ZigZag Deviation
- ZigZag Backstep
3. General Setting
- Arrow Shift in Pixels: 10 = default
- Use White Background Chart: true or false only
- Enable sound alert: true or false only
- Send email if peak or trough is found: true or false only
- Send notification if peak or trough is found: true or false only
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