Rheon Indica

A multi-timeframe rejection-signal indicator for MetaTrader 5, built around H4 trend structure and M15 support/resistance "yellow lines."

Rheon v1.1 is the signal engine behind the Rheon ScalpGrid strategy, packaged as a pure, non-trading indicator. It draws the same H4 structure levels and M15 "yellow lines" the strategy trades from, and marks every valid rejection with a clean arrow the moment it's confirmed — so you can watch the logic, backtest it visually, or feed it into your own manual or automated workflow.

How It Works

1. H4 Trend Bias — The indicator scans H4 swing highs/lows to classify the higher-timeframe structure as bullish, bearish, or ranging.
2. M15 Yellow Lines — On the entry timeframe, the most recent significant swing high and swing low are plotted as "yellow lines" — the key rejection zones.
3. Rejection Detection — A signal fires when price wicks through a yellow line but closes back on the correct side of it, confirming a rejection rather than a breakout.
4. Fake-Rejection Filter — Each rejection wick is measured against ATR. Wicks that are too small relative to volatility are discarded as noise.
5. Trend Confirmation — Optionally, signals are only shown when they align with the H4 bias, filtering out counter-trend rejections.
6. Repeat-Level Guard — Once a yellow line has produced a signal, the indicator won't re-signal on that same level until a new swing forms — no duplicate arrows stacking on one price.

What You See on the Chart

All levels update live and repaint-free once a candle closes — nothing is redrawn after the fact.

Key Features

• Non-repainting signal logic — arrows are placed only on confirmed, closed candles
• Full historical replay on load, so you can evaluate past performance directly on the chart, not just from the current bar forward
• Two-timeframe design (H4 bias / M15 trigger) — both timeframes are fully configurable
• ATR-based noise filter to cut down on false rejections during quiet or choppy markets
• Optional trend filter to trade only with the higher-timeframe structure
• Optional session filter to restrict signals to your preferred trading hours
• SL / TP / grid preview overlays so discretionary traders can see the same reference levels the underlying strategy would use
• Clean, lightweight chart footprint — no clutter beyond the active levels

Configurable Inputs

Timeframe Settings — H4 trend timeframe, M15 entry/signal timeframe (either can be changed to suit other pairs or styles)

Swing / Yellow Line Detection — pivot lookback, swing history depth, minimum swing size

Rejection Filter — require candle close beyond the level, ATR period, minimum wick size (% of ATR), max spread, trend filter on/off

Grid Preview — optional projected recovery level, step size (visual reference only)

Stop Loss / Take Profit Preview — optional SL distance, single-position TP distance

Session Filter — restrict signals to a chosen server-time window

Display — toggle yellow lines on/off, customize bullish/bearish line colors

Who It's For

• Discretionary traders who want a clear, rules-based rejection signal without giving up manual control
• Algo traders who want to visually validate a rejection strategy before automating it
• Anyone running the Rheon ScalpGrid EA who wants to see the same signals it trades from, without opening real positions

Important Notes

• This is a signal and analysis tool only — it does not place, manage, or close trades.
• Default input values reflect a tested GBPUSD M15 configuration; all settings are fully adjustable for other symbols, timeframes, and styles.
• As with any indicator, past signals are not a guarantee of future performance. Always validate on a demo account before committing to live use.

Risk Disclaimer

Trading foreign exchange, CFDs, commodities, indices, and other leveraged financial instruments carries a high level of risk and may not be suitable for all investors. Past performance, including any historical signals shown by this indicator, is not indicative of future results.

This product is a technical analysis tool. It identifies and displays potential rejection patterns based on the rules and parameters you configure — it does not constitute financial advice, a recommendation to trade, or any guarantee of profit. All trading decisions, and full responsibility for them, remain with the user.

Before using this indicator to inform live trading decisions, you should:

• Test it thoroughly on a demo account across the symbols and timeframes you intend to trade
• Understand that market conditions change, and a configuration that performed well historically may not continue to do so
• Only risk capital you can afford to lose
• Seek independent financial advice if you are unsure whether trading is appropriate for your circumstances

The author(s) and publisher of this product accept no liability for any losses incurred through its use, misuse, or interpretation.