SMC Algo Spartan MT5
- Indicators
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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
- Activations: 10
SMC Algo Spartan reads market structure the way a smart money trader marks it by hand, and draws it for you. It finds the swing highs and lows, labels every break of structure as a BOS (the trend continues) or a CHoCH (the trend turns), marks the order block each break leaves behind, and prints a buy or sell arrow when price comes back into a live block and a candle rejects it, with an entry, a stop and two targets drawn beside it. Everything is decided when a bar closes and stays where it was drawn.
HOW IT READS THE CHART
- Swings: a swing high is a high that no candle within 5 bars on either side beats, confirmed 5 bars later (swing length 5 by default). Swing lows are the mirror image.
- Breaks: a candle that closes above the last swing high, or below the last swing low, breaks structure. If the structure already pointed that way it is a BOS, drawn as a dotted line; if it pointed the other way it is a CHoCH, drawn as a solid line, and the structure turns. Teal for breaks up, orange for breaks down.
- Order blocks: every break marks the candle with the lowest low before a break up (the highest high before a break down) as an order block, drawn as a box that runs to the right while it is alive, up to 4 on each side. A close through its far side ends it: by default the box is removed, or kept in grey if you prefer.
- Retest arrows: a buy arrow prints when a candle reaches into a live bullish block, closes up, and does not close through it. A sell arrow is the mirror image. With "Only trade in direction of structure" on (the default), buys print only in bullish structure and sells only in bearish structure. One arrow per block.
- The plan: the entry at the arrow candle's close, the stop beyond the block or the candle, whichever is further, plus 0.2 of an ATR(14), TP1 at 1 times the risk and TP2 at 2 times, drawn for 20 bars with their prices. The last 5 plans stay on the chart.
THE SETTINGS THAT CHANGE THE PICTURE MOST
- Swing length: a smaller value finds more, smaller swings; a larger value fewer, bigger ones.
- Create OB only on CHoCH: blocks only where the structure turns, so every arrow is the retest of a turn and there are fewer of them.
- Only trade in direction of structure: switch it off to see the retests against the structure as well.
- Max active OB per side, Remove OB when mitigated, the extra stop room in ATR, both risk:reward targets, how long the levels run and how many plans stay drawn.
ON THE CHART
- Structure lines with BOS and CHoCH labels.
- Order blocks: green for bullish, red for bearish, grey for a block kept after it was closed through.
- Buy arrows (green) and sell arrows (magenta).
- Entry, stop, TP1 and TP2 lines with their prices.
- Every colour can be changed. The block shading is blended over your own chart background, so it reads on dark and light charts.
ALERTS
Four events, each with its own switch: buy (bullish OB retest), sell (bearish OB retest), bullish CHoCH and bearish CHoCH. Channels: popup, sound, push notification and e-mail. Every alert is evaluated on a closed bar, fires once for that bar, and never fires for history or in the Strategy Tester. Example:
BUY (bullish OB retest) on EURUSD H1 @ 1.12253
WHAT IT DOES NOT DO
- It does not place trades. It draws and alerts; you place and manage every order.
- It does not print a win rate. Results depend on the market, the timeframe and how you manage the trade.
- It does not see the future. A swing is confirmed 5 bars after it forms, and nothing is decided on the forming bar.
SETTINGS AND NOTES
- 44 inputs in 7 groups, each explained in the manual. It runs on any symbol and timeframe from M1 to monthly.
- Bars to calculate (5,000 by default) keeps loading fast on long charts.
- The chart keeps at most 500 lines, 500 labels and 200 boxes and removes the oldest first; switch "Keep object limits" off to keep everything.
- Arrows, blocks and levels are decided on closed bars and do not repaint: nothing changes while a bar is forming.
Trading leveraged products carries a high level of risk and may not be suitable for all investors. SMC Algo Spartan is an analysis tool, not financial advice. Test it on a demo account first.
