Belt Hold Trading System

Belt Hold Trading System — Opening Marubozu Reversal Detection for MT5 --MANUAL--

Introductory Pricing: This indicator is offered at introductory pricing that increases based on sales milestones. The current price is $49. After 10 sales, the price increases to $59. After 30 sales, it increases to $69. After 60 sales, the final price of $79 takes effect. All buyers receive the same full-featured indicator regardless of purchase price.

This indicator identifies Belt Hold formations by examining whether each candle opens at the absolute extreme of its range — the low for bullish setups or the high for bearish setups — while closing strongly in the opposite direction with a dominant body. The Belt Hold, also known as the Opening Marubozu, differs from its full-body counterpart in that only the open side must be shaved; the close side may carry a small permitted shadow. This structure reflects a session in which one side of the market established control at the very first tick and sustained that control through the close. Bulkowski's research places the Bullish Belt Hold at a 71% reversal rate and the Bearish Belt Hold at 68%.

This indicator detects Belt Hold formations on any symbol and timeframe, draws automated Entry/SL/TP trading levels using immediate entry at candle close, and tracks signal performance in real-time. Includes a multi-timeframe scanner monitoring up to 150 symbols across 8 timeframes simultaneously.

Included Tools

Each Belt Hold Trading System purchase includes access to the following companion tools at no additional cost:

1. Smart Trend Consensus MT5 — Multi-timeframe trend agreement indicator. Displays trend direction across up to 7 timeframes on a single dashboard. Helps confirm whether a Belt Hold is forming against or with the higher-timeframe trend before entry. https://www.mql5.com/en/market/product/160553

2. Price Volume Distribution MT5 — Volume profile and price distribution analysis. Identifies high-volume price zones where institutional orders cluster. Useful for confirming that Belt Hold patterns form near significant support or resistance levels. https://www.mql5.com/en/market/product/160452

3. Belt Hold Trading System EA — Automated signal execution based on indicator output buffers. Reads Entry/SL/TP levels from the indicator and places trades automatically at candle close. Configurable lot sizing, risk per trade, and session filters. (Delivered via MQL5 private message after purchase confirmation.)

Contact the author through MQL5 messaging after purchase to receive access to the companion tools.

How Belt Hold Detection Works

The indicator evaluates each completed bar against four sequential structural gates:

1. Forbidden shadow gate: The shadow on the open side of the candle — the lower shadow for a bullish candle, the upper shadow for a bearish candle — must remain at or below the maximum allowed ratio of total candle range. This gate is the defining criterion of the Belt Hold: an open at the session extreme means the rejected side produced no meaningful shadow. Candles that fail this gate are not Belt Hold patterns regardless of body size or quality score. Standard threshold: 5% of range. Strict threshold: 3% of range.

2. Body ratio gate: The candle body must represent a minimum proportion of total range, confirming that the directional move was sustained and not offset by late-session counter-pressure. Standard: body/range >= 70%. Strict: body/range >= 75%.

3. Body/ATR gate: The candle body must equal or exceed a minimum multiple of the 14-period Average True Range, confirming the formation represents meaningful price movement rather than a small candle during low-volatility conditions. Standard: body/ATR >= 0.40. Strict: body/ATR >= 0.50.

4. Allowed shadow gate: The shadow on the close side of the candle must remain within an accepted limit. A large shadow on the close side would indicate that the closing push was partially rejected, weakening the reversal premise. Standard: allowed shadow/range <= 20%. Strict: <= 15%.

Trend context is determined from the three bars immediately before each candidate. If at least two of those bars are declining (lower closes), the pattern is classified as Bullish Belt Hold. If at least two are rising (higher closes), the pattern is Bearish Belt Hold. Ambiguous context defaults to classification by candle body direction.

6-Factor Quality Scoring

Each pattern that passes all four gates receives a quality score from 0 to 1 based on six weighted factors:

• Forbidden shadow ratio: how close the open-side shadow is to zero — lower values score higher (weight: 0.35, inverted)
• Body to ATR: candle body size relative to recent Average True Range, rewarding larger candles relative to current volatility (weight: 0.25)
• Body ratio: proportion of total candle range occupied by the body (weight: 0.20)
• Allowed shadow ratio: size of the close-side shadow relative to range — lower values score higher (weight: 0.10, inverted)
• Close vs prior range: how far the current close extends into the prior candle's range, confirming commitment (weight: 0.05)
• Relative body: this candle's body compared to the previous candle's body, confirming relative strength (weight: 0.05)

The forbidden shadow factor carries the highest weight (0.35) because the absence of an open-side shadow is the core structural requirement of the Belt Hold. A pattern with a perfectly shaved open side scores substantially higher on this factor than one near the detection limit.

Two detection presets are available. Standard mode applies baseline thresholds (forbidden shadow <= 5%, body ratio >= 70%, body/ATR >= 0.40, allowed shadow <= 20%). Strict mode tightens all four gates (3%, 75%, 0.50, 15%) and selects only the most clearly-formed examples. A Custom mode allows individual adjustment of each gate independently.

Entry Mode: Immediate

Belt Hold patterns use immediate entry at candle close rather than pending stop orders. When a valid Belt Hold is confirmed on bar close, the system enters the trade at that moment. For a Bullish Belt Hold, the entry is the candle close with a stop loss below the pattern low minus 0.25×ATR. For a Bearish Belt Hold, the entry is the candle close with a stop loss above the pattern high plus 0.25×ATR. Take profit levels are calculated from entry using configurable risk-reward multiples applied to the stop distance.

Pattern-Specific Settings

• Max Forbidden Shadow Ratio: maximum open-side shadow as a fraction of total range (Standard: 0.05, Strict: 0.03)
• Min Body Ratio: minimum body as a fraction of total range (Standard: 0.70, Strict: 0.75)
• Min Body/ATR: minimum body size as a multiple of ATR (Standard: 0.40, Strict: 0.50)
• Max Allowed Shadow Ratio: maximum close-side shadow as a fraction of range (Standard: 0.20, Strict: 0.15)
• SL Buffer (xATR): offset applied beyond the pattern low (Bullish) or high (Bearish) for stop loss placement (default: 0.25)
• Detection Preset: Standard, Strict, or Custom
• Quality Score Minimum: filter signals below a defined score threshold

Automated Trading Levels

Every detected pattern automatically draws Entry, Stop Loss, and up to 4 Take Profit levels (TP1-TP4) directly on the chart. For Bullish Belt Hold patterns, entry is placed at the close of the signal candle with a stop loss below the pattern low. For Bearish Belt Hold patterns, entry is placed at the close with a stop loss above the pattern high. Stop Loss can be calculated using one of three methods: Donchian Channel (based on the recent channel low for bullish or channel high for bearish), ATR multiplier (a fixed distance applied opposite to signal direction), or Pattern (a buffer beyond the candle extreme). Take Profit levels are spaced using configurable risk-reward multiples applied to the stop distance.

Live Signal Tracking

The indicator tracks each signal from detection through completion. Signal states include: Active (trade entered at close, tracking in progress), TP Hit (one or more take profit levels reached), SL Hit (stop loss triggered), and Expired (signal invalidated). All state transitions are reflected in the signal statistics dashboard.

Donchian Channel Trailing Stop

An optional trailing stop system uses the Donchian Channel lower band for bullish signals as a dynamic stop level that adjusts with price as the trade progresses. As the channel lower band rises during an upward move, the trailing stop follows, preserving open profit without requiring a fixed exit target. For bearish signals, the upper band trails downward. This method can be combined with fixed TP levels or used independently.

Multi-Timeframe Scanner (150 Symbols x 8 Timeframes)

Monitor patterns across the entire market from a single chart. The scanner checks up to 150 symbols across 8 timeframes simultaneously and displays results in a sortable panel. Each row shows symbol, timeframe, signal direction, quality score, and current signal state. Symbols are loaded from MT5 Market Watch. Scanner updates asynchronously to avoid blocking chart calculations during refresh cycles.

Market Structure Analysis (BOS / CHOCH)

Built-in Break of Structure and Change of Character detection identifies key swing points and labels structural shifts on the chart. BOS marks a continuation of the prevailing direction when price breaks a prior swing high or low. CHOCH marks a potential reversal when price breaks structure against the prior trend. These labels provide context for evaluating whether a Belt Hold signal aligns with current market structure or represents a counter-trend entry.

Multi-Layer Signal Filtering

Seven independent filters can be enabled or disabled individually to control which detected patterns are displayed:

1. Quality filter: only show patterns scoring at or above the defined minimum quality threshold
2. Extreme zone filter: block signals when price is positioned near overbought or oversold Donchian Channel extremes
3. Direction filter: only allow signals aligned with the detected higher-timeframe trend direction
4. Stoploss hunt filter: validate that signals originate from genuine sweeps of prior swing levels
5. Signal zone filter: require signals to form near confirmed market structure events (BOS, CHOCH, swing levels)
6. Spacing filter: enforce a minimum number of bars between consecutive signals
7. Opposite signal filter: prevent conflicting buy and sell signals from appearing simultaneously

4-Channel Alert System

Alerts are delivered through four independent channels that can be enabled separately: MT5 pop-up notification, MT5 push notification to mobile app, email alert, and sound alert with a selectable audio file. Alerts fire at pattern detection and optionally at TP hits and SL hit.

Signal Statistics Dashboard

A draggable panel displaying real-time performance metrics for signals detected in the current session and historically. Metrics include total signals detected, entry trigger rate, TP1 through TP4 hit rates, SL hit rate, average quality score, and win rate. The dashboard updates automatically as signal states change.

Professional Chart Themes

Built-in color schemes allow switching the indicator's visual style to match different chart backgrounds. Available themes include Dark, Light, and Custom. Each theme adjusts the color palette for pattern markers, trading level lines, scanner panel, and dashboard text. Custom color overrides are available for all elements through the inputs panel.

EA Signal Buffers

Indicator outputs are available as data buffers for Expert Advisors. Buffer 0 outputs the signal direction (1 for bullish, -1 for bearish) at the bar where a pattern is detected. Buffer 1 outputs the quality score. Buffer 2 outputs the calculated Entry price. Buffer 3 outputs the Stop Loss price. Buffers 4 through 7 output TP1 through TP4 prices. An EA can read these buffers using iCustom() to build automated strategies without modifying the indicator source.

Recommendations

Timeframes: H1 provides a reliable balance between signal frequency and structural quality for Belt Hold patterns. H4 produces fewer but more clearly defined formations with stronger reversal follow-through. Lower timeframes produce more signals with higher noise; higher timeframes produce fewer with stronger context.

Symbols: The indicator works on any symbol available in MT5 Market Watch. Belt Hold formations are commonly observed on Forex major and minor pairs, XAUUSD, stock indices, and commodity instruments, particularly at identifiable support and resistance levels following a directional move.

Installation:

1. Copy the indicator file to the MQL5/Indicators directory in the MT5 data folder.
2. Restart MetaTrader 5 or refresh the Navigator panel.
3. Locate Belt Hold Trading System under Custom Indicators in the Navigator.
4. Drag the indicator onto a chart and configure inputs as needed.
5. For the scanner, attach the indicator to a single chart; it will monitor all configured symbols automatically.

Notes:

• No repainting: signals are confirmed only on bar close and do not change after detection.
• Bar-close processing only: the indicator evaluates each bar once at close, following per-bar processing standards.
• Immediate entry mode: trade entry occurs at bar close rather than via pending stop order.
• Scanner operates asynchronously and updates in the background without affecting chart rendering performance.
• Memory usage is optimized for long-running sessions; object pooling is used for all chart drawings.

Documentation and User Guides

Detailed guides for each feature are available on the MQL5 Blog:

PART	Section	Description
1	INTRODUCTION	Product introduction, what the product helps you with
2	INSTALLATION & SETUP	System requirements, step-by-step installation guide
	Guide to Installing Free Indicators and EAs Included with the Mirage Trading System Purchase
3	INTERFACE DISPLAY	Explanation of the components displayed on the chart
	User Guide: Trading Lines & Signal Tracking System	The system automatically draws Entry, Stop Loss, and Take Profit lines (TP 1–4) on the chart, tracks price action for hits, records Win/Loss results, and displays real-time performance statistics.
	User Guide : Visualization, Zone Fill, Signal Dashboard & Cancelled Signals	When you attach an indicator to a chart, the system renders the following visual components for each detected signal
	User Guide: MTF SCAN & Dashboard User Guide	MTF SCAN automatically scans all Market Watch symbols across 8 timeframes (M1 to W1) and displays results on a Dashboard grid directly on your chart.
	User Guide : Chart Theme User Guide	Chart Theme is a feature that changes the entire chart color scheme in MetaTrader 5 — including the background, candles, grid, text, and Bid/Ask lines — with a single click.
4	CORE CONCEPTS	Fundamental concepts that the system is built upon
	User Guide: Market Structure Functionality in the Trading System	Identifies trend direction (Uptrend, Downtrend, Ranging) by analyzing swing highs/lows, and detects key events: BOS (trend continuation) and CHoCH (potential trend reversal).
	User Guide : Signal Types, States, and Lifecycle	A signal is the system's notification when it detects a qualifying candlestick pattern on the chart. Each signal tells you the expected price direction and provides suggested entry, stop loss, and take profit levels.
5	SIGNAL FILTERS	Filters that refine and validate trading signals
	User Guide: Trade Direction (Direction Filter) in the Trading System	Defines the allowed trading direction (Buy only, Sell only, both, or neither) as the first filter before searching for entry signals, based on current market trend.
	User Guide: Signal Zone Filter in the Trading System	Eliminates signals not near important price zones, retaining only those connected to market structures (swing high/low, BOS, CHoCH) to reduce noise.
	User Guide: StoplossHunt Filter User Guide — Filtering "SL Sweep" Signals	Identifies higher-probability signals by checking whether price "swept stoploss" before forming a pattern.
	User Guide : Extreme Zone Filter	Extreme Zone Filter is a signal filtering feature that helps avoid entering trades when price is at the top or bottom of a Donchian price channel.
	User Guide: Opposite Signal Filter	The Opposite Signal Filter is an automatic feature that prevents new signals from appearing when you already have an active trade running in the opposite direction.The principle is very simple: Don't buy when you're selling. Don't sell when you're buying.
	User Guide : Quality Filter User Guide	Quality Filter is a feature that helps you receive only the best signals — price patterns formed clearly, with balanced proportions and high reliability — and reject weak signals, dull patterns, and those below standard.
6	TRADE MANAGEMENT
	User Guide : Risk/Reward & SL Method User Guide	Risk/Reward (R:R) is the ratio between the amount of money you accept losing (Risk) and the amount of money you expect to gain (Reward) in a single trade.
	User Guide: Trailing Stop Loss (TSL) User Guide	Regular Stop Loss (SL) stays fixed in one place. You set SL at 1990.00, and it stays there forever — even if price has risen to 2030.00.Trailing Stop Loss (TSL) is different. It automatically moves in your favor when price advances. As price moves up, TSL moves up with it. When price stalls or reverses, TSL holds the best position it reached.
7	CONFIGURATION PARAMETERS GUIDE	Detailed guide to each configuration parameter
	SIGNAL SCANNING CONFIGURATION GUIDE - MIRAGE TRADING SYSTEM EA	Guide to mastering signal scanning settings within the Inputs tab, optimizing trade discovery on a single chart or across the entire market.
8	ALERTS & NOTIFICATIONS
	User Guide: Alerts & Notifications User Guide	Configure push notifications, and on-screen popups when new signals are detected.
9	SYSTEM RISKS & LIMITATIONS	Notes on system risks and limitations

Support

• Product comments section on this page
• Direct message to the author via MQL5: https://www.mql5.com/en/users/khiemni/seller
• Response time: within 24 hours