Shadow Flare MT5
- Indicators
-
Kestutis Balciunas
With over 16 years of active experience in financial markets, I specialize in developing high-performance forex trading strategies, technical indicators, and automated Expert Advisors for MT4/MT5. My work spans precision-engineered trading systems designed for accuracy, consistency, and real-world - Version: 1.0
Shadow Flare Indicator is a non-repainting trend & liquidity tool for MetaTrader 5. It runs a configurable moving-average baseline (HMA, EMA, SMA, or RMA) wrapped in an Average True Range envelope and produces a sticky trend state that only flips when price closes through the upper or lower band. The same trend engine drives an automatic supply/demand zone module that detects pivot highs and pivot lows, draws coloured boxes around them, and mitigates each zone the moment price closes through it.
Buy and sell signals fire when the trend state flips, with optional volume and RSI filters that let traders block weak or counter-momentum entries. A built-in dashboard reports Trend Bias, Momentum (RSI-based), and Volume in real time. The full alert package — popup, sound, mobile push, and email — fires once per signal at bar close so live trading and backtesting produce identical signal counts.
Check MT4 version at: Shadow Flare MT4
See more products at: All Products
Check MT4 version at: Shadow Flare MT4
See more products at: All Products
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How It Works
Adaptive Trend Engine
The indicator computes a baseline using the user-selected method (HMA, EMA, SMA, or RMA) at the configured length (default 55) and then builds an upper and a lower band by adding and subtracting ATR(LenMain) multiplied by the volatility multiplier (default 1.5). The internal trend state starts at zero and switches to +1 the first time the bar's close exceeds the upper band, or to -1 the first time the bar's close falls below the lower band. Once the state is set, it remains sticky until the opposite band is crossed — close prints inside the cloud do not flip it. This eliminates the whipsaw that plagues simpler moving-average crossover systems and keeps the trend state stable through normal price oscillation around the mean.
Smart Liquidity Zones
Independently of the trend engine, the indicator scans for pivot highs and pivot lows using a both-sides lookback window (default 10 bars left and 10 bars right). When a pivot high is confirmed, a red supply box is drawn from the pivot bar to N bars into the future, with the box top at the pivot's high and the box bottom at the larger of the pivot bar's open or close. Demand zones use the mirror logic for pivot lows in green. Active zones extend their right edge forward each tick, and any zone is automatically deleted the moment price closes through it (above the bottom of a supply zone, or below the top of a demand zone). A configurable cap (default 5 per type) keeps the chart uncluttered.
Signal Generation and Filters
A buy signal fires on the bar where trend transitions to +1, and a sell signal fires on the bar where trend transitions to -1. Two optional filters can block these signals:
- Volume filter (enabled by default) — the bar's tick volume must exceed the simple moving average of tick volume over the configured length (default 20)
- RSI filter (disabled by default) — buys are blocked when RSI is at or above the overbought level (default 70); sells are blocked when RSI is at or below the oversold level (default 30)
Signal arrows print in yellow so they remain clearly visible against both the red supply zones and the green demand zones.
Dashboard and Alerts
A 2x4 corner dashboard reports the current trend bias (BULLISH / BEARISH / NEUTRAL), the momentum classification (STRONG / NEUTRAL / WEAK based on RSI position relative to the OB / OS bands), and the volume state (HIGH / LOW relative to the volume moving average). The dashboard uses Arial Black for crisp text at any chart-DPI setting. Position is selectable from any of the four chart corners.
The alert package fires once per signal at bar close. Each channel is individually toggleable, and a master switch disables alerts entirely for use in the Strategy Tester.
Key Features
- Adaptive baseline with four MA methods: HMA, EMA, SMA, RMA
- ATR-scaled trend cloud sized by a user multiplier
- Sticky trend state that only flips on confirmed close-through-band events
- Automatic pivot-based Supply (resistance) and Demand (support) zones with auto-mitigation
- Up to 5 active zones per type, capped to keep the chart readable
- Yellow buy / sell arrows that stay visible over both red and green zones
- Per-bar trend marker dots in the trend colour for quick visual scanning
- Optional volume filter (volume > moving-average) and RSI filter (OB / OS guards)
- 2x4 real-time dashboard: Trend Bias, Momentum, Volume — bold Arial Black, four corner positions
- Full alert package: popup, sound, mobile push notification, email — each toggleable, master switch included
- Non-repainting: signals evaluated at bar close, pivots confirmed both sides, zones never move backwards
