Author: FX
The Spike Killer is a custom MT4 indicator that identifies and flags abnormal price spikes—those sudden, sharp movements that often reverse just as quickly as they appear. Unlike standard volatility indicators that simply measure price range, this tool examines the relationship between spike magnitude, timeframe, and subsequent price behavior. Here’s what makes it different: the indicator doesn’t just detect spikes. It categorizes them as either “kill signals” (likely to reverse) or “momentum signals” (likely to continue). This classification happens through a proprietary algorithm that compares the current spike’s characteristics against historical patterns within the same trading session. When loaded on…
Sun: Japanese Average Cash Earnings, Japanese Snap ElectionMon: Swiss Consumer Confidence (Jan), Mexican Inflation (Jan), US Consumer Inflation Expectations (Jan), Australian Household Spending (Dec)Tue: EIA STEO; Norwegian prelim. CPI (Jan), US NFIB (Jan), Weekly ADP, ECI (Q4), Export/Import Prices (Dec)Wed: BoC Minutes (Jan), OPEC MOMR; ECB Wage Tracker (post-meeting); Chinese Inflation (Jan), Norwegian GDP (Q4), US NFP (Jan)Thu: IEA OMR, EU Informal Leaders Retreat; Japanese PPI (Jan), UK GDP Prelim. (Q4), GDP (Dec), US Weekly/Continuing Claims; Existing Home Sales (Jan), South Korean Export/Import Prices (Jan)Fri: Indian WPI (Jan), Swiss CPI (Jan), EZ Prelim. Employment (Q4), GDP 2nd (Q4), US CPI…
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A non repainting indicator commits to its signals. Once an arrow prints on a closed candle, it stays there—period. The code doesn’t look back and redraw based on future price action. Most repainting indicators use look-ahead functions or recalculate values on current bars. They might show a buy arrow at 1.0850 on EUR/USD, but when the next candle closes at 1.0840, that arrow shifts or disappears entirely. Traders who acted on the original signal find themselves in losing positions based on data that no longer exists in the indicator’s memory. Non repainting versions avoid this trap through strict coding discipline.…
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We are through the biggest market cap names on earnings and it was dramatic, with 10% moves in some of the world’s biggest companies. Next week switches the focus back to some smaller companies but many with good insight on the real economy, which is tough to pin down right now.MondayThe week starts off relatively quiet, which is typical. The main event for the broader market will come after the closing bell with the semiconductor sector.Before Open: The main one I’m watching is Cleveland-Cliffs and colorful CEO Lourcenco Goncalves though we will also see reports from asset manager Apollo and…
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The problem is spotting these gaps manually while monitoring multiple pairs, which gets exhausting. You might catch the obvious ones, but subtle gaps in lower timeframes slip through. Miss those setups, and you’re leaving high-probability entries on the table. Worse, by the time you notice a gap forming, the price has already moved 20-30 pips past your ideal entry. That’s where the Fair Value Gap Indicator for MT4 comes in. This tool automatically identifies these imbalances and marks them on your chart, letting you focus on execution rather than endless pattern recognition. The indicator doesn’t predict the future, but it…