MetaTrader 4 indicator
Falling Wedge Rising Wedge Chart Pattern Indicator for MT4
Spot falling wedges and rising wedges the moment they form. The indicator scans your MetaTrader 4 chart, draws both boundary lines, projects them forward and sounds an alert, so you stop hunting for converging trendlines by eye.
- MetaTrader 4
- Any symbol
- Any timeframe
- Sound alerts
The patterns
What are falling and rising wedges?
A wedge is a chart structure where price moves between two trendlines that slope the same way and gradually converge. In a falling wedge both lines slope down and the range narrows as price drifts lower. In a rising wedge both lines slope up and the range narrows as price climbs.
Traders watch wedges as a sign that momentum behind the current drift is fading. A falling wedge is commonly read as bullish-leaning and a rising wedge as bearish-leaning, and both are often watched near key support and resistance levels. They can also fail, which is why confirmation matters.
Wedges are easy to miss and slow to draw by hand, and the shape keeps changing as new bars print. The Falling Wedge Rising Wedge Chart Pattern Indicator for MT4 does that scanning on every bar, so you can spend your time on the trade instead of the trendline.
Two patterns, one indicator
Falling wedge and rising wedge detection in one tool
Both wedge types are detected by the same indicator, and each one has its own on/off switch. Both are on by default.
Falling wedge
Downward-sloping, converging
Both boundaries slope down and close in on each other. Traders often study it as a bullish-leaning structure near support or after a decline.
Rising wedge
Upward-sloping, converging
Both boundaries slope up and close in on each other. Traders often study it as a bearish-leaning structure near resistance or after a rally.
Features
Everything you need to trade wedge patterns on MT4
A chart-window indicator built for one job: finding wedges quickly, drawing them clearly and telling you when a new one appears.
Automatic wedge detection
Scans the chart history and every new bar for falling and rising wedges. No manual trendlines and no guessing which points to connect.
Falling and rising switches
Show both wedge types, or turn one off and keep the chart focused on the direction you trade.
Small, medium and large sizes
Choose the scale of wedge you want to see. Small is on by default, and Medium and Large can be added in the inputs.
Trendlines drawn for you
The upper and lower boundaries are placed on the chart as standard MT4 trend lines, so they stay visible, selectable and easy to inspect.
Forward projection
Both boundaries run ahead of the pattern. Set the number of bars to fit your timeframe, or keep the default of 20.
Sound and log alerts
When a wedge is found on the live bar, the indicator plays your chosen sound file and writes a message to the Experts log.
Latest-pattern-only mode
Keep only the most recent wedge on the chart. Older lines are replaced as new ones appear, which keeps busy charts readable.
Full control of line style
Choose separate colors for the upper and lower boundaries and set the line width to match your chart theme.
Detection marker and data buffer
A dot marks the bar where a wedge is detected, and the same value is held in an indicator buffer you can read from your own tools.
Pattern sizes
Choose the wedge size that fits your trading
Wedges come in different scales. Pick the sizes you care about and leave the rest off.
Small
Compact wedges
Shorter structures suited to lower timeframes and fast intraday trading. Enabled by default.
Medium
Everyday wedges
Mid-sized structures that fit most day trading and short swing setups. Off by default.
Large
Wide wedges
Bigger structures that take longer to build. Useful on higher timeframes for swing and position traders. Off by default.
Only the Small size is on when you first attach the indicator. Enable Medium and Large in the inputs window to scan for every scale.
The MT4 version
Built for MetaTrader 4, not ported from somewhere else
This version of the Falling Wedge Rising Wedge Chart Pattern Indicator for MT4 is a compiled MetaTrader 4 indicator. It uses the terminal’s own tools, so it behaves like the rest of your MT4 workspace.
Native chart-window indicator
Drop the file into your Indicators folder and it appears in the Navigator. It draws on the main price chart and needs no DLLs or outside software.
Standard MT4 trend lines
Boundaries are regular trend line objects. Double-click one to open its properties, or use the Objects list to select, restyle or delete it, as with any line you draw yourself.
Familiar inputs window
Every option sits in the normal MT4 inputs dialog, with the built-in color picker. Change a setting and the chart redraws.
Alerts through the terminal
Sound alerts use files from your MT4 Sounds folder, and messages go to the Experts log you already use.
Readable from your own tools
The detection value sits in an indicator buffer, so your own tools can read it with iCustom.
Fits your charts and templates
Attach it to any symbol and timeframe your broker offers, and save it in a chart template with the rest of your setup.
Setup
Install the indicator and start scanning in minutes
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Copy the file into MetaTrader 4
In MT4, choose File, then Open Data Folder. Place the downloaded
.ex4file inMQL4/Indicators. Restart MT4, or right-click the Navigator and choose Refresh. -
Attach it to a chart
Open any symbol and timeframe, find the indicator under Navigator, Indicators, and drag it onto the chart.
-
Pick your wedge types and sizes
In the inputs window, choose falling wedges, rising wedges or both, enable the sizes you want, and set the projection length, line colors and width.
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Let the chart do the scanning
Wedges appear with their boundary lines. Keep alerts on and MT4 will play a sound when a new one is found on the live bar.
Requires MetaTrader 4 build 600 or newer. The indicator is supplied as a ready-to-use compiled file, so there is nothing to compile. Removing the indicator from a chart also clears the objects on that chart, so keep manual drawings you want to keep on a separate chart or template.
In practice
How traders use falling and rising wedges
Wedges can break in either direction or fail altogether. Many traders wait for confirmation before acting. The indicator finds the pattern. Your plan decides what to do with it.
Reversal context
A falling wedge after a decline, or a rising wedge after a rally, can flag a move that is losing momentum. Combine it with the support and resistance levels you already trade.
Breakout watching
Use the projected boundaries as reference levels. Watch how price behaves when it reaches a line, and wait for your own confirmation.
Scanning many charts
Keep alerts on across several symbols and let the sound tell you when a wedge appears, instead of paging through charts.
Multi-timeframe confirmation
Run the Large size on a higher timeframe for the bigger picture and the Small size on a lower one to look for structure within it.
Settings
Inputs you can adjust
Every option appears in the standard MT4 inputs window when you attach the indicator.
| Input | Default | What it does |
|---|---|---|
ShowBullish |
true | Show falling wedges. |
ShowBearish |
true | Show rising wedges. |
EnableSmall |
true | Look for small wedges. |
EnableMedium |
false | Look for medium-sized wedges. Turn on to add this scale. |
EnableLarge |
false | Look for large wedges. Turn on to add this scale. |
LastOnly |
false | Show only the most recent wedge and replace older lines. |
SetAlert |
true | Play a sound and write to the Experts log when a wedge is found on the live bar. |
ExtensionBars |
20 | How many bars the trendlines run ahead of the pattern. |
LineWidth |
2 | Thickness of the trendlines. |
UpperLineColor |
Orange | Color of the upper boundary line. |
LowerLineColor |
Lime | Color of the lower boundary line. |
SoundAlertFile |
notify.wav | Sound file played by the alert. Use any file in your MT4 Sounds folder. |
Compatibility
Requirements and compatibility
- Platform
- MetaTrader 4, build 600 or newer
- File type
- Compiled indicator (.ex4)
- Indicator type
- Chart window overlay
- Symbols
- Any instrument your broker offers
- Timeframes
- M1 to MN
- Alerts
- Sound file and Experts log message
- Trading
- Analysis only, places no orders
FAQ
Frequently asked questions
What does the Falling Wedge Rising Wedge Chart Pattern Indicator for MT4 do?
It scans your MetaTrader 4 chart for falling wedges and rising wedges. When it finds one, it draws the upper and lower trendlines, extends them forward, marks the detection bar with a dot and can sound an alert.
What is the difference between a falling wedge and a rising wedge?
A falling wedge slopes downward with the two boundary lines converging, and traders often read it as a bullish-leaning structure. A rising wedge slopes upward with converging lines, and is often read as bearish-leaning. Neither is a guarantee, so both call for confirmation.
Can I show only falling wedges or only rising wedges?
Yes. Two switches let you turn the falling wedge and the rising wedge on or off independently, so the chart shows only the structures you trade.
What is the difference between small, medium and large patterns?
The three sizes look for wedges of different scales. Small suits quick intraday structures, medium suits everyday trading, and large picks up wider, slower-forming structures. Only Small is on by default. Enable Medium and Large in the inputs window if you want them.
Does it work on every symbol and timeframe?
Yes. It can be attached to any symbol your broker offers in MetaTrader 4 and to any timeframe from M1 to monthly. Make sure the chart has enough history loaded for the indicator to scan.
How do the alerts work?
With alerts enabled, the indicator plays a sound file and writes a message to the Experts log when a wedge is found on the live bar. The default sound is notify.wav, and you can point it at any file in your MT4 Sounds folder.
Does it place trades for me?
No. It is an analysis tool that marks patterns on your chart. It does not open, modify or close orders, so every trading decision stays with you.
Can I keep only the latest wedge on the chart?
Yes. Turn on the latest-only option and the indicator keeps just the most recent wedge, replacing older lines as new ones appear.
Does a wedge pattern guarantee a profitable trade?
No chart pattern does. Wedges can fail or break out in either direction, so use the indicator alongside your own analysis, confirmation and risk management.
Get started
Add the Falling Wedge Rising Wedge Chart Pattern Indicator for MT4 to your charts
Stop drawing wedges by hand. Attach the indicator, choose your wedge types and sizes, and let MetaTrader 4 tell you when a new one appears.
Trading leveraged products such as forex and CFDs carries a high level of risk and may not be suitable for everyone. You can lose more than your initial deposit.
The Falling Wedge Rising Wedge Chart Pattern Indicator for MT4 is a charting tool for MetaTrader 4. It is not financial advice and does not guarantee results. Past patterns do not predict future price movement. MetaTrader is a trademark of its respective owner.
