Obsidian Ribbon MT5

Obsidian Ribbon: Trend Pullback Indicator for MT5

Trade the pullback, not the chase.

Obsidian Ribbon finds the moment a trend pauses and gets ready to continue. It combines an EMA ribbon, a higher-timeframe trend filter and a 7-timeframe dashboard. When price pulls back into the ribbon and turns back with the trend, you get a clear BUY or SELL arrow.

How it works

  1. Trend: the ribbon shows the direction. It’s green in an uptrend and red in a downtrend. It turns grey when the trend is unclear or the higher timeframe disagrees, and then there are no signals.
  2. Pullback: price dips back into the ribbon. The dashboard shows “in progress” and the exact trigger price.
  3. Entry: a reversal candle closes back in the trend direction, and the arrow appears.

Signals use closed candles only, so they don’t repaint.

Features

  • EMA ribbon: 4 EMAs with a shaded band, coloured by trend.
  • Higher-timeframe filter: signals only in the direction of the H1 trend (adjustable).
  • 3 sensitivity buttons, switchable on the chart:
    • LOW: confirmed entries, fewer and cleaner signals.
    • NORMAL: an entry when the candle breaks the previous high or low.
    • HIGH: the earliest entry, on the first reversal candle at the pullback low or high.
  • MTF dashboard:
    • 7 timeframes (M1–D1) as colour chips, brighter when the trend is stronger.
    • Weighted bias: higher timeframes count more, so a pullback on M1 doesn’t hide an H4 trend.
    • Clear verdict: BUYS ONLY, SELLS ONLY, LEAN BUY / LEAN SELL, or MIXED – STAND ASIDE, with the bias %.
    • Live pullback status and next trigger price.
    • Signals today and the last signal, with entry, SL and TP.
  • Trend Glow background: a dark chart with a dot grid and a soft glow that turns green, red or grey with the market bias.
  • Carbon chart theme: your original chart colours come back when you remove the indicator.
  • SL and TP for each signal: the stop goes beyond the pullback extreme and the target is a set R:R. Optional lines show the last signal on the chart.
  • Alerts: pop-up, sound and push notification, once per signal, when the candle closes.

Main settings

  • Ribbon EMAs (default 5 / 8 / 13 / 21; LOW and HIGH scale from these)
  • Filter timeframe and EMAs
  • Reward:risk, stop buffer, minimum and maximum stop size
  • Minimum ribbon width, candles between signals, sensitivity at start
  • Bias level for the verdict
  • Background, glow strength, chart theme, ribbon shading
  • Alerts: pop-up, sound, push

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