Peak Trough Analysis Tool MT4

What is the Peak Trough Analysis Tool?

• Designed for detecting peaks and troughs in price charts.
• Utilizes three algorithms: Original Fractals Indicator (Bill Williams), Modified Fractals, and ZigZag Indicator.
• Ideal for traders looking to identify price patterns and market forces. 📈

How to Use the Tool

• Mode 1: Original Fractals Indicator - Set "Use Modified Fractals" to true.
• Mode 2: Modified Fractals Indicator - Activate "Use Modified Fractals" for this algorithm.
• Mode 3: ZigZag Indicator - This mode is activated by setting "Use Modified Fractals" to false.
• Flexible settings for counting "N left" and "N right" bars are included for customization.

Settings Overview

• Modified Fractals Setting: Configure the left and right bars counted to adjust sensitivity.
• ZigZag Setting: Default settings recommended unless familiar with the ZigZag indicator.
• General Settings: Options for alerts, notifications, and display preferences. 🔔

Trading Strategy Guide

• Traders are encouraged to combine this tool with other strategies for optimal effectiveness.
• Learning resources are available for enhancing trading techniques and understanding price action.
• Consult chapter 11 of "Introduction to Price Action and Pattern Trading" for in-depth explanations.

Conclusion of the Features

• The Peak Trough Analysis Tool is free and empowers traders to make informed decisions based on market behavior.
• With its ease of use and flexibility, it can be a valuable addition to any trading toolkit!
• Join the ranks of savvy traders who leverage technology to enhance their market predictions. 🚀