Velox Momentum Confluence Engine 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
- Activations: 10
Velox Momentum Confluence Engine puts six momentum and money-flow readings on one scale and blends them into a single score from -100 to +100. Instead of six separate windows, you read one line, its signal line, and how many of the six agree with the move. A signal needs the score to cross its signal line with enough agreement behind it. Each signal maps an ATR stop and three targets, the candles take the score's colour, and a dashboard shows the state of every component and filter.
WHAT IT DRAWS
In its own window:
- The Momentum Score, coloured by a gradient: green toward +60, amber around zero, red toward -60.
- The violet signal line, shaded overbought and oversold zones, threshold lines, and a value tag for every level at the window's right edge.
- BULL and BEAR markers on accepted signals.
- Optional lines for each of the six components.
On the price chart:
- Candles coloured with the same gradient as the score.
- BULL and BEAR markers below and above the signal bars.
- The current trade: stop, entry and three target lines, each with a label that prints its price. When a target is touched its label changes to a check mark with the distance in percent. When a close beyond the stop ends the trade, the stop label does the same.
- A dashboard of up to 29 rows: Bias, Score, Agreement, Zone, Signal, the trade with its entry, stop and targets, ATR, the open result in R and each component's score. Hover a row for what it means.
Both windows are painted with real transparency and exact colours, so a translucent zone or dashboard row shows what is under it. The painting follows every scroll, zoom and price-scale change.
HOW IT DECIDES
The score. RSI, the smoothed stochastic, CCI and MFI are rescaled directly. The MACD histogram and rate of change become z-scores over 100 bars. Each is then averaged by its weight, smoothed by a short EMA, and followed by a 9-bar signal line. Any component can be switched off or weighted from 0 to 10.
The signal. A cross of the score over its signal line is only a candidate. It becomes a BULL or BEAR marker if at least 60 % of the component weight points the same way and the score is rising or falling over the last 3 bars. Two more filters are off by default: a higher timeframe's Bias state, and a minimum ADX. Signals are decided on a closed bar and do not change afterwards.
The trade. The entry is the close of the signal bar. The stop sits 1.5 ATR away, and the targets at 1.0, 2.0 and 3.0 times that distance. A target counts on the touch, the stop only on a close beyond it, and the third target or the stop closes the trade. A new signal replaces the trade that is open. These levels are planning references, not orders and not a forecast.
Bias reads BULL at a score of +20 or more and BEAR at -20 or less. Zone reads OVERBOUGHT at +60 or more and OVERSOLD at -60 or less. These are conditions of stretched momentum, not instructions to act.
ALERTS
Ten conditions, each with its own switch: BUY Signal, SELL Signal, Close Long, Close Short, Partial Close Long, Partial Close Short, SL Hit, TP1 Hit, TP2 Hit and TP3 Hit. BUY and SELL are on by default. An eleventh switch sends the indicator's own JSON trade messages, with six action words you choose. Channels: popup, sound with a file of your choice, push notification and e-mail, and a test on start checks your settings without waiting for a signal. Targets alert on the touch. Entries, the stop and a replaced trade alert on the closed bar. Each fires once for its bar, and nothing fires for history or in the Strategy Tester.
Velox Momentum Confluence Engine - BUY Signal Fired | EURUSD H1
WHAT IT DOES NOT DO
- It does not place trades. It draws and alerts; you place and manage every order.
- It does not promise a result. A score, a cross or a target says where momentum and price have been, not where they will go.
- It does not see the future. On the bar that is still forming, the score and the dashboard move with every tick and a target can be touched; markers, the stop and a new trade wait for the closed bar, and what a bar shows is final when it closes.
SETTINGS AND NOTES
- 112 inputs in 10 groups, each explained in the manual. It runs on any symbol and timeframe from M1 to monthly: forex, metals, indices and crypto.
- Bars To Calculate (20,000 by default) sets how much history it works through, and keeps loading fast. The markers and the trade state depend on where history starts, so a different setting can change the earliest signals.
- A trade's labels sit ten bars past the last bar, so give the chart some room on the right with the chart shift, or switch on Pin Labels Inside Chart to pull them in.
- MFI reads your broker's tick volume, and every component reads your broker's candles, so another feed can give a slightly different score.
- The dashboard can move to any corner or into the indicator's own window. Its rows explain themselves when you hover them.
- No DLL, no internet access and no files: the indicator only reads the chart it is attached to.
Trading leveraged products carries a high level of risk and may not be suitable for all investors. Velox Momentum Confluence Engine is an analysis tool, not financial advice. Test it on a demo account first.
