This technical indicator shows М & W Wave Patterns by Merrill and support/resistance levels drawn at extreme points of the standard ZigZag indicator. A. Merrill classified five-pointed shapes based on the order of the points from top to bottom, and created an orderly classification model M & W Waves. Here they are:
MT5 Indicator – Download Instructions
FivePattern is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
FivePattern provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install FivePattern.mq5?
- Download FivePattern.mq5
- Copy FivePattern.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on FivePattern.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator FivePattern.mq5 is available on your Chart
How to remove FivePattern.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: