Update: Extreme Spike MTF (Volatility Filter) Added
[New indicator] Extreme Spike MTF Indicator
We just archived a new volatility tool that is useful for spotting exhaustion wicks on
Gold (XAUUSD) and
Indices.
How it works: Unlike standard RSI/Stochastic which can stay overbought for hours, this indicator measures
Price Velocity (speed of the move) relative to the mean. It prints a signal when price stretches "too far, too fast."
Best Use Case (False Breakouts): I've been testing this on the
M15 timeframe to catch "Stop Hunts."
- If price spikes hard into a Support level AND the indicator prints a Blue Dot, it often signals a V-shape reversal (liquidity grab).
- MTF Feature: You can set the indicator to monitor H4 volatility while trading on M15, keeping you aligned with the higher timeframe trend.
Download & Guide: You can grab the ex4 file and read the full breakdown here: https://www.forexcracked.com/educati...mtf-indicator/
Note: For Gold, I recommend increasing the sensitivity setting slightly to ignore the small $2 noise.
ForexCracked.com - Free Forex EAs & Indicators for MT4/MT5 Download