UT Bot Alerts for MT4

Faithful MQL5 & MQL4 conversion of the legendary "UT Bot Alerts" indicator by QuantNomad from TradingView.

Originally developed by Yo_adriiiiaan with the core idea by HPotter, and refined into Pine Script v4 with alerts by QuantNomad (Vadim Cissa) — one of the most followed quant developers on TradingView with over 100K followers. The original script has accumulated 1.1 million+ views and 35,500+ favorites on TradingView, making it one of the most popular open-source trading indicators ever published.

This conversion replicates the original algorithm with 100% logical fidelity: same 4-branch recursive trailing stop, same crossover detection, same signal generation. Non-repainting on closed bars.

What is UT Bot Alerts?

UT Bot Alerts is a trend-following signal system built on a single, elegant concept: an adaptive trailing stop that uses the Average True Range (ATR) to dynamically adjust its distance from price.

When price is trending up, the trailing stop ratchets upward and never moves down — protecting gains. When price is trending down, the stop ratchets downward and never moves up. When price crosses the trailing stop, the system flips direction and generates a Buy or Sell signal.

The result is a clean, responsive indicator that:

• Identifies trend direction with a color-coded trailing stop line
• Generates precise entry signals at trend reversals
• Adapts automatically to market volatility via ATR
• Works on any instrument (Forex, Crypto, Stocks, Commodities, Indices)
• Works on any timeframe (M1 to Monthly)

Think of it as a smarter, ATR-adaptive version of a Supertrend indicator that uses closing price instead of the midpoint (High+Low)/2.

How the Algorithm Works

The indicator calculates three things on every bar: (1) an adaptive trailing stop, (2) the current trend state, and (3) buy/sell crossover signals.

Step 1 — ATR and Loss Distance

The Average True Range (ATR) is calculated using Wilder's smoothing method (RMA) over the configured period. The trailing stop distance is defined as:

nLoss = Key Value × ATR

A higher Key Value places the stop farther from price (fewer signals, less noise). A lower Key Value places it closer (more signals, faster reaction).

Step 2 — The 4-Branch Recursive Trailing Stop

This is the core of the algorithm. On every bar, the trailing stop is updated using four mutually exclusive conditions:

Branch 1 — Uptrend Continuation: If the current price AND the previous price are both above the previous trailing stop, the stop can only move upward. It is set to the maximum of the previous stop and (current price - nLoss). This "ratchet" mechanism locks in gains as price rises.

Branch 2 — Downtrend Continuation: If the current price AND the previous price are both below the previous trailing stop, the stop can only move downward. It is set to the minimum of the previous stop and (current price + nLoss). The stop follows price down, tightening on rallies.

Branch 3 — Bullish Reversal: If the current price crosses above the previous trailing stop (but the previous price was below), the stop resets to (current price - nLoss), initiating a new upward trailing sequence.

Branch 4 — Bearish Reversal: If the current price crosses below the previous trailing stop (but the previous price was above), the stop resets to (current price + nLoss), initiating a new downward trailing sequence.

Step 3 — Signal Detection

Buy and Sell signals are generated using crossover detection between the source price and the trailing stop:

• Buy Signal = Price crosses above the trailing stop (price was below on the previous bar, now it is above)
• Sell Signal = Price crosses below the trailing stop (price was above on the previous bar, now it is below)

Signals fire exactly once per crossover event. They do not repaint on closed/confirmed bars.

Step 4 — Visualization

The indicator displays:

• Trailing Stop Line — Color-coded by trend direction: green during uptrend (long), red during downtrend (short), blue during neutral/undefined state
• Buy Arrows — Green upward arrows below the signal bar
• Sell Arrows — Red downward arrows above the signal bar
• Bar Coloring (MQL5 only) — Candles are colored green when price is above the trailing stop and red when below
• Position State Buffer — Available for EA access via iCustom (value: +1 for long, -1 for short, 0 for neutral)

Input Parameters

UT Bot Core

Visuals

Alerts

Recommended Settings by Market

These are community-tested parameter guidelines. Always backtest on your specific instrument and timeframe before trading live.

Forex

• Stable pairs (EURUSD, USDJPY, USDCHF): Key Value 1.0–1.5, ATR Period 10–14
• Moderate pairs (AUDUSD, USDCAD, EURJPY): Key Value 1.5–2.0, ATR Period 10–14
• Volatile pairs (GBPJPY, GBPNZD): Key Value 2.0–3.0, ATR Period 10–14

Crypto

• BTC, ETH: Key Value 2.0–3.5, ATR Period 10–14
• Altcoins: Key Value 3.0–5.0, ATR Period 10–20

Commodities

• Gold (XAUUSD): Key Value 2.5–3.5, ATR Period 10–14
• Oil (USOIL): Key Value 2.0–3.0, ATR Period 10–14

Indices

• NASDAQ, S&P 500: Key Value 3.0–4.0, ATR Period 10–14
• DAX, FTSE: Key Value 2.5–3.5, ATR Period 10–14

Timeframe Guidelines

• Scalping (M1–M5): Lower Key Value (0.5–1.0) for faster reaction. More signals, more noise.
• Intraday (M15–H1): Key Value 1.0–2.0. Good balance between signal frequency and reliability.
• Swing (H4–D1): Key Value 2.0–3.5. Fewer but higher-quality signals.
• Position (W1–MN): Key Value 3.0–5.0. Long-term trend following.

How to Trade with UT Bot Alerts

Basic Strategy

The simplest approach:

• Buy when a green Buy arrow appears (price crosses above the trailing stop)
• Sell/Close when a red Sell arrow appears (price crosses below the trailing stop)
• Use the trailing stop line itself as a dynamic stop-loss level

With Trend Filter (Recommended)

Add a 200-period EMA as a trend filter to significantly reduce false signals:

• Only take Buy signals when price is above the 200 EMA (bullish macro trend)
• Only take Sell signals when price is below the 200 EMA (bearish macro trend)

With Additional Confirmation

Combine UT Bot with other indicators for higher-probability setups:

• RSI: Only take Buy signals when RSI is below 70 (not overbought), Sell signals when RSI is above 30 (not oversold)
• VWAP: Use VWAP as an institutional bias filter — Buy above VWAP, Sell below VWAP
• Volume: Require above-average volume on signal bars for confirmation
• Support/Resistance: Only take signals near key S/R levels for better risk/reward

Risk Management

• Use the trailing stop line as your initial stop-loss
• The distance between entry price and the trailing stop line = your risk per trade
• Size your position accordingly (e.g., risk 1–2% of account per trade)
• Consider using the trailing stop as a dynamic exit: close when the bar color changes from green to red (or vice versa)

Using with Expert Advisors (EAs)

The indicator exposes its data through buffers accessible via iCustom() . Here is the buffer mapping for both platforms:

MQL5 Buffer Index Map

MQL5 Example:

int ut_handle = iCustom(_Symbol, PERIOD_CURRENT, "UTBotAlerts", 1.0, 10, false);

double buy_signal[];
double sell_signal[];
CopyBuffer(ut_handle, 2, 1, 1, buy_signal);  // Buy buffer, bar 1
CopyBuffer(ut_handle, 3, 1, 1, sell_signal);  // Sell buffer, bar 1

if(buy_signal[0] != EMPTY_VALUE)
{
   // Buy signal on last closed bar
}
if(sell_signal[0] != EMPTY_VALUE)
{
   // Sell signal on last closed bar
}

MQL4 Buffer Index Map

MQL4 Example:

double buy = iCustom(_Symbol, 0, "UTBotAlerts", 1.0, 10, false, 3, 1); // Buffer 3, bar 1 double sell = iCustom(_Symbol, 0, "UTBotAlerts", 1.0, 10, false, 4, 1); // Buffer 4, bar 1 if(buy != EMPTY_VALUE) { // Buy signal on last closed bar } if(sell != EMPTY_VALUE) { // Sell signal on last closed bar }

Installation

MQL5 (MetaTrader 5)

1. Copy UTBotAlerts.mq5 to your MQL5/Indicators/ folder
2. Open MetaEditor (F4 from MetaTrader) and compile the file (F7)
3. In MetaTrader, open the Navigator panel (Ctrl+N)
4. Drag "UTBotAlerts" from Indicators onto your chart
5. Configure the input parameters and click OK

MQL4 (MetaTrader 4)

1. Copy UTBotAlerts.mq4 to your MQL4/Indicators/ folder
2. Open MetaEditor (F4 from MetaTrader) and compile the file (F7)
3. In MetaTrader, open the Navigator panel (Ctrl+N)
4. Drag "UTBotAlerts" from Custom Indicators onto your chart
5. Configure the input parameters and click OK

Platform Differences (MQL5 vs MQL4)

Both versions produce the same signals on the same data. Any visual differences are purely cosmetic due to platform rendering.

Comparison with TradingView Original

This conversion achieves 95%+ signal match with the TradingView original when tested on the same instrument and timeframe with the same broker data. The remaining ~5% difference is attributed to:

• Data feed differences: Even the same broker may deliver slightly different OHLC values on TradingView vs MetaTrader due to aggregation methods and timestamp handling
• ATR initialization: The first few bars may differ slightly due to how each platform seeds the initial RMA/Wilder's smoothing calculation
• Floating point precision: Minor rounding differences between Pine Script and MQL runtime environments

These differences are negligible and do not affect the overall trading behavior of the indicator.

Comparison with Supertrend

UT Bot Alerts is functionally similar to the Supertrend indicator, but with key differences:

UT Bot's use of Close price makes it more responsive to actual price action, while Supertrend's use of the midpoint provides slightly more stability. Choose based on your trading style and the specific market conditions.

Credits & Original Source

• Original concept: HPotter (TradingView)
• Initial development: Yo_adriiiiaan (TradingView) — UT Bot
• Pine Script v4 with Alerts: QuantNomad / Vadim Cissa (TradingView) — UT Bot Alerts
• Strategy version: QuantNomad — UT Bot Strategy
• MQL5/MQL4 conversion: Exobeacon — exobeacon.com

The original Pine Script is open-source and published under TradingView's House Rules. This MQL conversion is an independent reimplementation of the publicly documented algorithm.

Changelog

v1.20

• Fixed trail line color alignment — color change now coincides exactly with signal arrows
• Fixed visibility toggles — disabling trail line or bar coloring no longer affects signal arrows
• Separated core algorithm into internal arrays independent of display buffers

v1.10

• Fixed buffer mapping issue when toggling visual elements off

v1.00

• Initial release
• Full algorithm conversion from Pine Script v4
• Color-coded trailing stop line
• Buy/Sell signal arrows with configurable offset
• Bar coloring (MQL5)
• Heikin Ashi source option
• Configurable alerts (Popup, Sound, Push, Email)
• Position state buffer for EA integration