Tweezer Top Bottom Marker
A tweezer is two adjacent candles whose highs (top) or lows (bottom) land close together. Taken completely literally that fires constantly - any two quiet bars in a row can produce a near-identical high or low that means nothing at all. This indicator adds the two checks that make the pattern worth marking: InpTolerancePoints controls exactly how close is "close enough" in points rather than an arbitrary visual judgement, and InpRequireTrendContext only accepts a tweezer top after a genuine prior uptrend (measured over InpTrendLookback bars) and a tweezer bottom after a genuine prior downtrend - a matching high/low pair in the middle of a flat range is not a reversal signal, it is coincidence. InpRequireOppositeColours adds the stricter textbook definition (first candle one colour, second the opposite) for traders who want the classical two-colour tweezer rather than the looser matching-wick version. Notes and limitations This is a shape/context detector, not a trade signal generator: it does not predict that price actually reverses after a marked tweezer, only that the wick-matching and trend-context conditions were met. A wide InpTolerancePoints value on a volatile instrument can pass pairs that don't look like a tweezer by eye; start tight and widen only if genuine matches are being missed. InpTrendLookback uses a plain close-to-close comparison rather than a smoothed trend filter, so it can occasionally read a choppy stretch as trending. Does not repaint once a pair is marked.
Indicator · MT5 · v1.0 · Free
About Tweezer Top Bottom Marker
Tweezer Top Bottom Marker is an indicator for MetaTrader 5. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 5 settings, such as Tolerance points, Trend lookback and Require trend context. MQL source code included.
Files in the download: TweezerMarker.ex5, TweezerMarker.mq5, TweezerMarker.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Tolerance points | 30 | Max high/low difference between the pair (points) |
| Trend lookback | 10 | Bars before the pair used to establish trend context |
| Require trend context | true | Only mark a top after an uptrend, a bottom after a downtrend |
| Require opposite colours | false | Require first/second candle bodies to be opposite colours |
| Alerts | true | Alert once when a new tweezer completes |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 5 open File → Open Data Folder, then go to MQL5 → Indicators.
- Copy the .mq5 file(s) there. Put any .mqh files in MQL5 → Include.
- Open the .mq5 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Trend · Buy/Sell Arrows · Alerts · MT5 Indicator · MQL5 Source Code