Download the free five wave patterm mt5 indicator. The Five Pattern Indicator is a custom technical indicator which provides pattern-based trade setups based on the “M” and “W” wave patterns.
This indicator plots lines connecting swing highs and swing lows to help traders identify the last pattern formed on the price chart. It also labels the swing highs and swing lows with a number to show where the market currently is at relative to the key points on the pattern. It then plots a dashed line to show the projections where price may possibly move towards if price action would form another pattern.
It also plots horizontal lines based on the identified price swings of the market. These horizontal lines can also be used as support and resistance lines where traders can anticipate potential reversals:-
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