Volumatic VIDYA Dashboard Indicator - Complete User Guide & Trading Manual (MT4 & MT5)
The Volumatic VIDYA Dashboard Indicator is a professional multi-symbol, multi-timeframe trading tool built around Tushar Chande's Variable Index Dynamic Average (VIDYA). It scans up to 20 instruments across nine timeframes and presents every detected opportunity in a compact, interactive eight-column dashboard -- complete with computed Entry, Stop Loss, and Take Profit prices for each signal.
Key Features:
- Adaptive VIDYA Engine: Uses Chande Momentum Oscillator (CMO) weighting so the moving average accelerates in trending markets and decelerates in choppy ones
- Computed Entry, SL & TP: Every signal includes specific price levels derived from ATR-based bands -- no guesswork required
- Multi-Symbol Monitoring: Watch up to 20 currency pairs, metals, indices, or crypto assets simultaneously
- Multi-Timeframe Analysis: Monitor M1 through Monthly timeframes (9 timeframes)
- Non-Repainting Signals: Evaluates only closed bars (bar 1) -- signals never disappear or shift
- Two-Bar Confirmation: Requires a pullback to the VIDYA band followed by a confirming bullish or bearish close
- 8-Column Dashboard: Symbol, Timeframe, Direction, Entry, SL, TP, Age, and Chart navigation
- Filter & Sort Mode: Optionally rank signals by recency so the freshest opportunities appear first
- Visual Chart Signals: Color-coded arrows and price labels plotted directly on the chart
- Multiple Alert Types: Popup, sound, email, and mobile push notifications
Download the indicator:
- MetaTrader 5: Volumatic VIDYA Dashboard MT5
- MetaTrader 4: Volumatic VIDYA Dashboard MT4
TIP: This indicator provides Entry, Stop Loss, and Take Profit levels for every signal. Always combine these with proper position sizing and risk management -- never risk more than 1-2% of your account on a single trade.
Understanding VIDYA & ATR Bands
What is VIDYA?
VIDYA (Variable Index Dynamic Average) was introduced by Tushar Chande in 1995. It is an adaptive exponential moving average that adjusts its smoothing speed based on market volatility. When the market is trending strongly, VIDYA responds quickly. When the market is choppy, VIDYA slows down and filters out noise.
The adaptive weighting comes from the Chande Momentum Oscillator (CMO), which measures the ratio of net momentum to total momentum over a given period:
CMO = |100 x (sumPositive - sumNegative) / (sumPositive + sumNegative)| alpha = 2 / (VidyaLength + 1) VIDYA = alpha x (CMO / 100) x Price + (1 - alpha x CMO / 100) x previousVIDYA
In plain terms: when price moves are overwhelmingly in one direction (high CMO), VIDYA tracks price closely. When buying and selling pressure are balanced (low CMO), VIDYA barely moves, acting as a stable reference line.
The Three ATR Bands
The indicator constructs three bands around the VIDYA line using the Average True Range (ATR):
| Band | Multiplier | Purpose |
|---|---|---|
| Entry Band | ATR x 2.0 | Defines the pullback zone where price must touch to trigger a signal |
| Stop Loss Band | ATR x 2.0 | Placed beyond the entry band to define the protective stop level |
| Take Profit Band | ATR x 4.0 | Placed on the opposite side of VIDYA to define the profit target |
For a BUY signal, the Entry Band sits below VIDYA, the Stop Loss Band sits further below, and the Take Profit Band sits above VIDYA. The arrangement mirrors for SELL signals.
How Signals Are Generated
The indicator uses a two-bar confirmation process:
- Bar 2 (pullback bar): Price must touch or penetrate the VIDYA entry band -- for a BUY, the low must reach the lower band; for a SELL, the high must reach the upper band
- Bar 1 (confirmation bar): The bar must close in the signal direction -- a bullish close (close > open) confirms a BUY; a bearish close (close < open) confirms a SELL
Additionally, the overall trend direction must align: an uptrend must be active for BUY signals, and a downtrend must be active for SELL signals. This two-step process filters out many false signals that single-bar systems produce.
NOTE: The indicator evaluates only bar 1 (the most recently closed bar) and never evaluates bar 0 (the current forming bar). This is what makes the signals non-repainting.
Installation Guide
For MetaTrader 4
- After purchasing, locate the file named Volumatic_VIDYA_Dashboard_Indicator.ex4 in your downloads
- Open MetaTrader 4 and click File > Open Data Folder
- Navigate to MQL4 > Indicators
- Copy the indicator file into the Indicators folder
- Return to MetaTrader 4 and press Ctrl+N to open the Navigator panel
- Right-click on "Indicators" in the Navigator and select Refresh
- Find "Volumatic_VIDYA_Dashboard_Indicator" in the list
The typical path is: C:\Users\[YourName]\AppData\Roaming\MetaQuotes\Terminal\[ID]\MQL4\Indicators\
For MetaTrader 5
- After purchasing, the indicator installs automatically via the MQL5 Market
- Open MetaTrader 5 and press Ctrl+N to open the Navigator panel
- Expand Indicators > Market section
- Find "Volumatic_VIDYA_Dashboard_Indicator" in the list
Adding to a Chart
- In the Navigator panel, locate the indicator under Indicators
- Double-click on the indicator name, OR drag and drop it onto any chart
- A settings window will appear -- adjust settings as needed (see Input Parameters Reference below)
- Click OK to apply
After applying, you will see two components:
- Dashboard Panel: A separate window below your main chart showing all monitored symbols and timeframes with Entry, SL, and TP prices
- Chart Signals: BUY and SELL arrows with price labels plotted at signal points, plus yellow candle highlighting
NOTE: The indicator must be attached to a chart of one of the symbols in your monitoring list to display arrows. For example, if you are monitoring EURUSD, attach the indicator to a EURUSD chart to see the arrows and price labels on that pair.
Dashboard Overview
The dashboard appears in a separate window below your main chart. It displays eight columns of information for every detected signal.
Dashboard Columns
| Column | Description |
|---|---|
| Symbol | The currency pair or instrument name (e.g., EURUSD, XAUUSD) |
| Timeframe | The chart timeframe where the signal was detected (M1 through MN) |
| Direction | Trend direction shown as Bullish with a green upward arrow or Bearish with a red downward arrow |
| Entry | The computed entry zone price, derived from the VIDYA entry band |
| SL | The computed Stop Loss price, derived from the extra ATR band beyond the entry |
| TP | The computed Take Profit price, derived from the ATR band on the opposite side of VIDYA |
| Age | How many bars ago the signal appeared (e.g., "3 bars ago") |
| Chart | Click this button to instantly switch your chart to that symbol and timeframe |
Using the Dashboard
- Scrolling: Use the scrollbar on the right side or your mouse wheel to view more rows when signals exceed the visible area
- Quick Navigation: Click any Chart button to instantly open that symbol on the specified timeframe, allowing you to examine the signal in full detail
- Color Coding: Green text and icons indicate bullish/buy conditions; red text and icons indicate bearish/sell conditions
- Filter Mode: When InpFilterRecent is enabled, the dashboard sorts signals by recency so the freshest opportunities appear at the top
TIP: Use the Chart button to jump directly to a signal that interests you. This switches both the symbol and timeframe in one click, saving time when scanning multiple markets.
Input Parameters Reference
Dashboard Settings
| Setting | Default | Description |
|---|---|---|
| Symbols | EURUSD,GBPUSD,USDCAD,USDJPY | Currency pairs to monitor, separated by commas. No spaces. Up to 20 symbols. |
| Symbol Prefix | (empty) | Prefix your broker adds to symbol names (e.g., "x" for xEURUSD). |
| Symbol Suffix | (empty) | Suffix your broker adds (e.g., ".pro" for EURUSD.pro, or "m" for EURUSDm). |
| Enable M1 Timeframe | false | Monitor 1-minute charts. Disabled by default due to high noise. |
| Enable M5 Timeframe | true | Monitor 5-minute charts. Suitable for scalping strategies. |
| Enable M15 Timeframe | true | Monitor 15-minute charts. Popular for day trading. |
| Enable M30 Timeframe | true | Monitor 30-minute charts. Good balance of signals and reliability. |
| Enable H1 Timeframe | true | Monitor 1-hour charts. Recommended for most traders. |
| Enable H4 Timeframe | true | Monitor 4-hour charts. Excellent for swing trading. |
| Enable D1 Timeframe | true | Monitor daily charts. Great for identifying major trends. |
| Enable W1 Timeframe | true | Monitor weekly charts. For long-term position trading. |
| Enable MN Timeframe | false | Monitor monthly charts. For very long-term analysis. |
| Visible Rows | 12 | Number of rows visible in the dashboard at one time. Use the scrollbar to see more. |
| Filter Recent | false | When enabled, sorts dashboard rows by signal age so the most recent signals appear at the top. |
VIDYA Settings
| Setting | Default | Description |
|---|---|---|
| VIDYA Length | 5 | The smoothing period for the VIDYA calculation. Lower values make VIDYA more responsive; higher values make it smoother. |
| CMO Period | 20 | The lookback period for the Chande Momentum Oscillator that drives VIDYA's adaptive weighting. |
| Entry Band Multiplier | 2.0 | ATR multiplier for the entry band. Defines how far from VIDYA price must pull back to trigger a signal. |
| Stop Loss Band Multiplier | 2.0 | ATR multiplier for the stop loss band. Defines the protective stop distance beyond the entry band. |
| Take Profit Band Multiplier | 4.0 | ATR multiplier for the take profit band. Defines the profit target distance on the opposite side of VIDYA. |
| ATR Period | 200 | Lookback period for the Average True Range calculation used in all band computations. |
| SMA Period | 15 | Simple Moving Average period used in the trend direction filter. |
| Max History Bars | 500 | How many bars of history to analyze per symbol/timeframe. Higher values show older signals but use more memory. |
Chart Arrow Settings
| Setting | Default | Description |
|---|---|---|
| Show Arrows | true | Display BUY and SELL arrows on the chart. Set to false to hide them. |
| Show Labels | true | Display price labels alongside arrows showing Entry, SL, and TP values. |
| BUY Arrow Color | Lime (Green) | Color of the buy signal arrows. |
| SELL Arrow Color | Red | Color of the sell signal arrows. |
| Arrow Size | 4 | Size of the arrows (1-5). Larger numbers produce bigger arrows. |
| Arrow Gap | 0.8 | Distance between the arrow and the candle, expressed as an ATR multiplier. |
| Label Gap | 1.8 | Distance between the text label and the candle. Should be larger than Arrow Gap. |
| BUY Arrow Code | 233 | Wingdings character code for buy arrows. 233 is an upward-pointing arrow. |
| SELL Arrow Code | 234 | Wingdings character code for sell arrows. 234 is a downward-pointing arrow. |
Alert Settings
| Setting | Default | Description |
|---|---|---|
| Alert Title | Volumatic VIDYA Dashboard | The title that appears at the beginning of all alert messages. |
| Popup Alerts | true | Shows a popup window on screen when a new signal appears. |
| Sound Alerts | true | Plays a sound when a new signal appears. |
| Sound File | alert2.wav | The sound file to play. Must be located in MT4/MT5's Sounds folder. |
| Email Alerts | false | Sends an email when a new signal appears. Requires email configuration in MT4/MT5 settings. |
| Push Alerts | true | Sends push notifications to your mobile phone via the MetaTrader mobile app. Requires MetaQuotes ID. |
TIP: The ATR multipliers for Entry Band, Stop Loss Band, and Take Profit Band are the most impactful parameters. Adjusting these changes where signals trigger, how tight your stops are, and how far your profit targets reach. See the Band Multiplier Tuning section for guidance.
Chart Arrows & Visual Signals
BUY Signal Appearance
When a BUY signal is detected on the chart's symbol and timeframe:
- A green upward arrow (Lime) appears below the signal candle
- A price label is displayed above the arrow showing the computed levels in this format: BUY E:1.0952 SL:1.0918 TP:1.1020
- The signal candle is highlighted in yellow for easy visual identification
SELL Signal Appearance
When a SELL signal is detected:
- A red downward arrow appears above the signal candle
- A price label is displayed below the arrow showing: SELL E:1.0948 SL:1.0982 TP:1.0880
- The signal candle is highlighted in yellow
Non-Repainting Guarantee
The Volumatic VIDYA Dashboard evaluates only bar 1 (the most recently closed bar) and never reads bar 0 (the current forming bar). This means:
- Signals only appear after a candle has fully closed
- Once a signal appears, it will never disappear, move, or change
- What you see in historical data is exactly what you would have seen in real-time
- Backtesting results accurately reflect live trading conditions
IMPORTANT: Non-repainting is essential for trustworthy backtesting and reliable live trading. Because the indicator requires both a pullback bar and a confirming close bar before plotting a signal, every arrow on the chart represents a genuinely confirmed setup.
Alert Configuration
Alert Message Format
When a new signal is detected, the alert message follows this format:
Volumatic VIDYA Dashboard: EURUSD BUY on H1 | Entry: 1.09500 | SL: 1.09200 | TP: 1.09900
Each alert includes the symbol, direction, timeframe, and all three computed price levels, giving you the complete trade setup at a glance.
Setting Up Email Alerts
- In MetaTrader, go to Tools > Options > Email
- Check Enable
- Enter your SMTP server, port, login, password, and destination email
- Click Test to verify the configuration works
- Set InpEmailAlerts to true in the indicator settings
Setting Up Push Notifications
- Install the MetaTrader mobile app on your phone (iOS or Android)
- Open the app and go to Settings > Messages
- Copy your MetaQuotes ID
- In the desktop MetaTrader, go to Tools > Options > Notifications
- Enter your MetaQuotes ID and enable notifications
- Set InpPushAlerts to true in the indicator settings
Smart Deduplication
The alert system includes built-in deduplication logic. Once an alert fires for a specific symbol, timeframe, and direction combination, it will not repeat until the signal changes. This prevents alert flooding when the indicator recalculates on each tick.
NOTE: MetaTrader has built-in alert throttling that limits the frequency of popup and sound alerts. If you are monitoring many symbols across many timeframes, some alerts may be slightly delayed during periods of high signal activity.
Trading Strategies
WARNING: The following strategies are provided for educational purposes only. Trading involves significant risk of loss. Always practice on a demo account first and never trade with money you cannot afford to lose.
Strategy 1: VIDYA Pullback Entry (Primary)
This is the core strategy the indicator is designed for. The dashboard provides all the information you need.
Rules:
- Open the dashboard and scan for fresh signals (low Age values)
- When a BUY signal appears, consider entering at or near the Entry price shown in the dashboard
- Set your Stop Loss at the SL price provided
- Set your Take Profit at the TP price provided
- For SELL signals, follow the same process in the opposite direction
Why it works: The two-bar confirmation ensures price has already pulled back to a value zone (the VIDYA band) and then shown directional commitment with a confirming close. The ATR-based SL and TP levels automatically adapt to current volatility.
Strategy 2: Multi-Timeframe Confirmation
Use the dashboard's multi-timeframe view to align trades across different time horizons.
Rules:
- Check the higher timeframe (H4 or D1) for the trend Direction in the dashboard
- Look for signals on a lower timeframe (M15 or H1) in the same direction
- Only take BUY signals on the lower timeframe when the higher timeframe also shows Bullish
- Only take SELL signals on the lower timeframe when the higher timeframe also shows Bearish
- Use the lower timeframe Entry, SL, and TP levels for trade execution
Why it works: Aligning with the higher timeframe trend increases the probability that the lower timeframe pullback is a continuation rather than a reversal.
Strategy 3: Filter Mode Scanner
Enable InpFilterRecent to focus exclusively on the freshest signals.
Rules:
- Set InpFilterRecent to true in the indicator settings
- The dashboard now sorts all signals by age, with the newest at the top
- Focus on signals that are 1-5 bars old -- these are the most actionable
- Click the Chart button to examine the signal in detail before entering
- Ignore signals with high Age values unless they align with a broader thesis
Why it works: Fresh signals offer the best entry timing. As a signal ages, price has already moved away from the entry zone, reducing the risk-to-reward ratio.
TIP: Regardless of strategy, always calculate your position size based on the distance between Entry and SL. Risk no more than 1-2% of your account equity per trade.
Band Multiplier Tuning
The three ATR multiplier parameters control the geometry of every trade setup. Adjusting them changes signal frequency, stop distance, and profit potential.
How Band Multipliers Affect Trading
| Style | Entry Band | SL Band | TP Band | Characteristics |
|---|---|---|---|---|
| Scalping | 1.0 | 1.0 | 2.0 | More frequent signals, tighter stops, smaller targets. Best for M5-M30. |
| Default (Balanced) | 2.0 | 2.0 | 4.0 | Moderate signal frequency with generous risk-reward. Best for M15-H4. |
| Swing Trading | 3.0 | 3.0 | 6.0 | Fewer signals, wider stops, larger targets. Best for H4-D1. |
General guidelines:
- Entry Band: Lower values trigger signals more frequently because price does not need to pull back as far. Higher values require deeper pullbacks, producing fewer but potentially higher-quality signals.
- SL Band: This defines your risk per trade. Tighter values reduce the monetary risk but may result in more stop-outs during normal volatility.
- TP Band: This defines your reward potential. The default 4.0 combined with an SL of 2.0 produces an approximate 2:1 reward-to-risk ratio before accounting for entry placement.
TIP: When changing multiplier values, always backtest the new settings on historical data using MetaTrader's Strategy Tester or by visually reviewing past signals on the chart. Small changes can significantly affect signal frequency and performance.
Broker Symbol Configuration
Different brokers use different naming conventions for currency pairs and other instruments. If the dashboard shows errors or missing data, you need to configure the Symbol Prefix or Symbol Suffix.
Common Broker Formats
| Broker Format | Symbol Prefix | Symbol Suffix | Example |
|---|---|---|---|
| Standard | (leave empty) | (leave empty) | EURUSD |
| With .pro suffix | (leave empty) | .pro | EURUSD.pro |
| With m suffix | (leave empty) | m | EURUSDm |
| With .ecn suffix | (leave empty) | .ecn | EURUSD.ecn |
| With x prefix | x | (leave empty) | xEURUSD |
| With # prefix | # | (leave empty) | #EURUSD |
How to Find Your Broker's Format
- Open the Market Watch window by pressing Ctrl+M
- Look at how currency pairs are named in the list
- Identify any prefix (characters before "EURUSD") or suffix (characters after "EURUSD")
- Enter the prefix and/or suffix in the indicator settings
- The Symbols list itself should use the base names only (e.g., EURUSD, not EURUSD.pro) -- the indicator will combine them with the prefix and suffix automatically
Troubleshooting
Dashboard Shows No Signals
- Ensure your symbol names are spelled correctly in the Symbols input
- Verify your broker's symbol format in the Market Watch window and configure Prefix/Suffix accordingly
- Check that at least some timeframes are enabled (M5 through W1 are on by default)
- Confirm you have enough history data loaded -- go to Tools > Options > Charts and increase the max bars setting
- Wait a moment after attaching the indicator; it needs time to load data for all symbol/timeframe combinations
Indicator Does Not Load
- Ensure the file is in the correct folder ( MQL4/Indicators for MT4 or MQL5/Indicators/Market for MT5)
- Right-click on Indicators in the Navigator panel and select Refresh
- Restart MetaTrader completely
- Check the Experts tab at the bottom of MetaTrader for any error messages
Symbols Show "---"
- The symbol name was not found on your broker's server
- Check Market Watch for the exact spelling your broker uses
- Configure the Symbol Prefix and Symbol Suffix fields to match your broker's naming convention
Signals Differ from Chart Arrows
- The dashboard scans all enabled timeframes, while chart arrows only appear for the timeframe currently displayed
- Switch the chart to the timeframe shown in the dashboard row to see the corresponding arrows
- Use the Chart button in the dashboard to navigate directly to the correct symbol and timeframe
Chart Buttons Do Not Work
- Ensure the chart is not locked (right-click the chart, check that "Chart Locked" is unchecked)
- Some chart templates or profiles may override the symbol change -- try on a clean chart
- In MetaTrader 5, ensure the symbol is available in Market Watch before clicking the button
NOTE: The most common issue is an incorrect Prefix or Suffix setting. Always check your Market Watch window first to confirm the exact symbol format your broker uses.
Frequently Asked Questions
Q: What is VIDYA and how is it different from a regular moving average? A: VIDYA (Variable Index Dynamic Average) is an adaptive exponential moving average created by Tushar Chande. Unlike a standard EMA that uses a fixed smoothing factor, VIDYA adjusts its speed based on the Chande Momentum Oscillator. It moves faster during strong trends and slower during choppy, directionless markets.
Q: How are the Entry, SL, and TP prices calculated? A: All three are based on ATR bands around the VIDYA line. The Entry price comes from the VIDYA band at the Entry Band multiplier (default 2.0x ATR). The Stop Loss is placed at the extra band (default 2.0x ATR beyond VIDYA in the protective direction). The Take Profit is placed at the opposite band (default 4.0x ATR on the profit side of VIDYA).
Q: Does this indicator repaint? A: No. The indicator evaluates only bar 1 (the most recently closed bar) and never reads bar 0 (the current forming bar). Once a signal appears, it will never disappear, move, or change.
Q: How many symbols can I scan at once? A: You can monitor up to 20 symbols simultaneously. Enter them as a comma-separated list in the Symbols parameter (e.g., EURUSD,GBPUSD,XAUUSD). More symbols require more processing time, so find a balance that suits your system.
Q: Which timeframes work best with this indicator? A: H1 and H4 generally provide the best balance of signal frequency and reliability for most traders. M15 works well for active day traders, while D1 suits swing traders who prefer fewer, higher-conviction setups.
Q: Can I use this indicator alongside other indicators? A: Yes. The Volumatic VIDYA Dashboard works well as a signal generator that you confirm with other tools such as support/resistance levels, RSI divergence, volume analysis, or higher-timeframe trend filters.
Q: What if my broker uses different symbol names? A: Use the Symbol Prefix and Symbol Suffix settings. For example, if your broker names pairs as "EURUSD.pro", leave the Symbols field as "EURUSD" and set the Suffix to ".pro". The indicator combines them automatically.
Q: How do I update the indicator to a newer version? A: For MT5 Market purchases, updates install automatically. For MT4, download the updated file from your MQL5 Market purchase history and replace the old file in your MQL4/Indicators folder. Then refresh the Navigator and re-apply the indicator to your charts.
Support & Contact
If you need assistance with the Volumatic VIDYA Dashboard Indicator:
| Contact Method | Details |
|---|---|
| support@forexobroker.com | |
| Website | www.forexobroker.com |
| MQL5 Market | Use the Comments section on the product page |
When contacting support, please include:
- Your MetaTrader version (MT4 or MT5)
- Your broker name and symbol format
- A description of the issue
- Screenshots if applicable
- Your indicator settings (especially Symbols, Prefix, Suffix, and multiplier values)
Download:
- MetaTrader 5: Volumatic VIDYA Dashboard MT5
- MetaTrader 4: Volumatic VIDYA Dashboard MT4
Risk Disclaimer
HIGH RISK WARNING: Trading foreign exchange (Forex), CFDs, and other financial instruments on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade, carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment. You should not invest money that you cannot afford to lose.
NO GUARANTEE OF PROFIT: Past performance is not indicative of future results. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this guide or shown by the indicator.
DEMO ACCOUNT RECOMMENDATION: We strongly recommend testing any trading strategy or indicator on a demo account before trading with real money.
