Wyckoff Phase Tracker
Wyckoff method material is usually taught with annotated screenshots of hand-picked, textbook-perfect examples. This EA instead runs the same event vocabulary live and mechanically against real price, so a trader can see how often a "spring" actually looks like the diagram versus how often the rule almost fires and then does not. A trading range is only recognised once volatility has genuinely contracted: the rolling high/low over a lookback window must fit inside a configurable multiple of ATR. Inside a valid range, a spring is a bar that pierces the range low by a minimum point distance and then closes back above it within a configurable number of bars - the reclaim is required, not assumed, so a clean breakdown that never comes back is correctly left unlabelled. An upthrust is the mirror image at the range high. A test is a later low that revisits the spring's low within a tolerance, without breaking it, on reduced volume relative to the spring bar itself. A sign of strength or weakness is a bar that closes beyond the range with an above-average range and above-average volume, which also resolves the range and starts a hold-the-breakout confirmation window before the phase is marked E (markup/markdown). Every event is drawn as a coloured arrow with a text label at the exact bar and price that triggered it, and logged to the Experts journal with the rule that fired. This EA never calls OrderSend - it exists purely to make the Wyckoff vocabulary testable against real charts rather than taken on faith from a diagram. Notes and limitations This is a teaching aid, not a signal generator - it never trades and carries no forward-looking claim about what happens after any labelled event. The range/event rules are one reasonable, documented mechanical reading of Wyckoff's vocabulary; other practitioners draw the same diagrams with different exact thresholds, and this EA's labels will not always agree with a discretionary analyst's eye on ambiguous structures. Detection only runs on closed bars of the chart's own timeframe - it does not look down to a lower timeframe for finer event timing.
Expert advisor · MT4 · v1.0 · Free
About Wyckoff Phase Tracker
Wyckoff Phase Tracker is a script for MetaTrader 4 based on ATR. It draws buy and sell arrows on the chart. It has 18 settings, such as Range lookback, Atr period and Range width atr multiple. MQL source code included.
Files in the download: WyckoffPhaseTracker.ex4, WyckoffPhaseTracker.mq4, WyckoffPhaseTracker.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Range lookback | 60 | Bars used to measure the rolling range high/low |
| Atr period | 14 | ATR period used to judge range tightness and breakout strength |
| Range width atr multiple | 3.0 | Range is only "valid" while (high-low) <= this many ATRs |
| Penetration points | 30 | Minimum points beyond the range edge to count as a genuine pierce |
| Reclaim bars | 3 | Bars allowed for price to reclaim the range after a pierce (spring/upthrust) |
| Test tolerance atr multiple | 0.35 | How close a later low must sit to the spring low to count as a test |
| Test volume ratio | 0.85 | Test bar's volume must be below this fraction of the spring bar's volume |
| Volume avg period | 20 | Bars used to compute the average volume for breakout confirmation |
| Breakout range atr multiple | 1.2 | Breakout bar's own range must be at least this many ATRs |
| Breakout volume multiple | 1.5 | Breakout bar's volume must be at least this multiple of the average |
| Markup confirm bars | 3 | Bars price must hold beyond the range before Phase E (markup/markdown) confirms |
| Max labels on chart | 80 | Oldest event labels are pruned once this many are on the chart |
| Range line colour | clrSilver | Colour on the chart |
| Spring colour | clrLime | Colour on the chart |
| Upthrust colour | clrOrangeRed | Colour on the chart |
| Test colour | clrYellow | Colour on the chart |
| Sos colour | clrDodgerBlue | Colour on the chart |
| Sow colour | clrMagenta | Colour on the chart |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Scripts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the script onto a chart to run it once.
Tags: Buy/Sell Arrows · ATR · MT4 Expert Advisor · MQL4 Source Code