TravaRisco Signal Checker
- Indicators
- Version: 1.10
- Updated: 19 October 2026
Does your indicator really work, or does it just look good on history?
Version 1.10: new result curve on the panel
- Result curve in R after costs, green when the indicator wins and red when it loses, with total, number of trades and dates.
- The Pro version also shows the curve before costs, the deepest drawdown and the out-of-sample test.
TravaRisco Signal Checker is a free, honest test for any MT5 indicator that draws buy/sell arrows. Put it on a chart, type the name of your indicator, and in seconds you see what its signals would really have done.
What it shows
- Trade simulation on the last bars: entry at the next bar open, stop loss (fixed points or ATR), take profit by risk:reward, exit on opposite signal.
- Before and after costs: spread, commission and slippage in points. Many "winning" indicators lose once costs are counted.
- Win rate, profit factor, total and average R, max losing streak, max drawdown.
- Results by session: Asia, London, New York.
- REPAINT CHECK (live): it records every signal when the bar closes and later checks whether signals vanished or appeared late. If they did, the verdict is REPAINTS - history results are not real.
Real example (XAUUSD M15, screenshots): the standard Fractals indicator shows 81% win rate and profit factor 7.8 on history. The live check found 101 signals that appeared late, so the result is fake. A simple EMA cross shows a small edge with 0 late signals: that is a result you could really get.
How to use
- Indicator name: exactly as in the Navigator (e.g. Examples\Fractals or MyFolder\MyIndicator). Empty = built-in demo (EMA 20/50).
- Parameters: comma separated, or empty for defaults.
- Signal source: indicator buffers (choose buy/sell buffer numbers; the panel shows how many values each buffer has) or arrow objects on the chart.
- For the repaint check, leave it running on a live chart, or run it in the Strategy Tester in visual mode.
Honest notes: this is a simulation on bar data, not a guarantee. If stop loss and take profit are hit in the same bar, it counts as a loss. Past results are not a promise of future results. It does not open trades.
Other TravaRisco tools: Real Cost Monitor (free, real cost of every trade) and Daily Loss Lock (protects your account from a bad day).
Need more? TravaRisco Signal Checker Pro adds signal delay correction, an SL/TP optimizer with out-of-sample check, a multi-timeframe scan, an equity curve and CSV export.
Full version: TravaRisco Signal Checker Pro
Found it useful? A short review on this page helps other traders find it, and tells me what to improve. Questions or ideas: write in the comments.
News, guides and free trials - follow the channel: https://www.mql5.com/en/channels/travarisco
