✨ "Spot Reversals Before They Happen – Let the Magic Signal Guide Your Trade!"

📌 Indicator Overview

Name: Magic Signal

Version: 1.00

Platform: MetaTrader 4 (MT4)

Display: Main Chart Window

Type: Reversal Signal Indicator

Developer: R.KH 1001

Source: https://www.robomql.com

🧠 How It Works

The Magic Signal indicator is a reversal pattern detector that identifies a unique 4-bar sequence, signaling potential market turning points (tops and bottoms). It plots directional arrows (up/down) directly on the chart and triggers alerts accordingly.

📊 Pattern Detection Logic

Bullish Reversal (Buy Signal) — 2 Bar Reversal Up

Occurs when:

4 bars ago: bullish (Close Open)

3 & 2 bars ago: bearish (Close Open)

Most recent bar: bullish (Close Open)

Additional confirmation:

Close[1] Low[2]

Close[0] High[1] + small buffer (point value)

Bearish Reversal (Sell Signal) — 2 Bar Reversal Down

Occurs when:

4 bars ago: bearish (Close Open)

3 & 2 bars ago: bullish (Close Open)

Most recent bar: bearish (Close Open)

Additional confirmation:

Close[1] High[2]

Close[0] Low[1] - buffer

These conditions aim to capture "bull trap" and "bear trap" setups commonly seen in price reversals.

⚙️ Technical Details

📍 Indicator Outputs (Buffers)

Buffer NameContentDisplay

CrossUp[]Up arrows for buy signalDeepPink arrow (code 233)

CrossDown[]Down arrows for sell signalDeepPink arrow (code 234)

📐 Range Calculation

The indicator computes the average range of the last 10 candles:

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AvgRange = Average of (High - Low) over 10 bars

This range is used to offset arrow positions slightly above/below highs and lows for visual clarity.

🔔 Alert System

When a valid reversal is detected and a new bar is forming, the indicator triggers an MT4 Alert showing:

Symbol name

Direction (Up/Down)

Time of alert (Hour and Minute)

Example:

sql

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EURUSD 2 Bar Reversal Up @ Hour 14 Minute 35

🛠 How to Use

Attach to Chart: Drag and drop "Magic Signal" onto any MT4 chart.

No Inputs Required: The indicator has no external input parameters — it's designed to be plug-and-play.

Interpret Arrows:

Up Arrow (below bar): Bullish reversal — potential long opportunity.

Down Arrow (above bar): Bearish reversal — potential short opportunity.

Use With Confirmation: Combine with trend filters, support/resistance, or oscillators for best results.

📢 Developer Information

Developer: R.KH 1001

Website: https://www.robomql.comhttps://www.robomql.com