Extreme Spike EA

Free spike-detection indicator/EA · Real-time volatility surges · Martingale variant available · MT4/MT5

About Extreme Spike EA

The Extreme Spike EA, built on the Extreme Spike indicator documented at theforexgeek.com and FXCodeBase.com, is a MetaTrader tool designed to detect market trend extreme high and extreme low price spikes in real time. It instantly identifies sharp price spikes and volatility surges, helping pinpoint exhaustion points, potential reversals, and breakout zones with greater accuracy than standard trend indicators.

The underlying indicator produces clear buy and sell signals, and is versatile across a variety of currency pairs. Multiple file variants exist, including a standard MQ4/MQ5 indicator and an Extreme_Spike_martingale_EA.mq4 version that automates trade execution around detected spikes using a martingale-based position management approach.

Platform: MetaTrader 4 & MT5
Core signal: Extreme high/low price spike detection
Variants: Indicator-only and martingale EA versions
Compatibility: Multiple currency pairs
Price: Free
Source: theforexgeek.com · Extreme Spike Indicator

Key Features

✓ Real-time spike detection — identifies volatility surges and exhaustion points as they happen

✓ Free — no purchase cost for the base indicator

✓ Versatile pair compatibility — usable across a wide range of instruments

⚠ Can generate false signals — the developer notes additional confirmation tools are recommended

⚠ Martingale EA variant carries elevated risk — size positions conservatively if using that version

⚠ Less effective in low-volatility markets, since it relies heavily on price spikes

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