ALYAS Market Sentiment

ALYAS Market Sentiment is a lightweight real-time market sentiment indicator for MetaTrader 5, designed to provide a quick visual overview of the current bullish and bearish pressure on the chart.

Instead of relying on a single technical indicator, ALYAS Market Sentiment combines several market factors into one weighted sentiment score and displays the result in a simple Buy / Sell percentage bar.

Key Features

Multi-Factor Market Analysis

The indicator combines six different components:

• Trend — 25%

  • EMA 20

  • EMA 50

  • EMA 200

  • Price position relative to the moving averages

• Momentum — 20%

  • RSI (14)

  • MACD (12, 26, 9)

  • MACD is normalized relative to ATR to improve comparability across different instruments.

• ADX & Direction — 15%

  • ADX (14)

  • +DI / -DI

  • Measures directional strength together with trend direction.

• Volume — 15%

  • Uses current tick volume compared with the average volume of recent completed bars.

  • Volume direction is combined with recent price direction.

• Volatility — 10%

  • ATR (14)

  • Current ATR is compared with recent average ATR.

  • Helps identify whether current price movement has meaningful volatility.

• Market Structure — 15%

  • Optional HH/HL and LH/LL structure analysis.

  • Uses completed candles to reduce the influence of the currently forming candle.

Simple Visual Dashboard

The indicator displays a compact dashboard directly on the chart:

ALYAS MARKET SENTIMENT

🟢 Buy %
🔴 Sell %

A horizontal split bar provides an immediate visual representation of the current calculated sentiment.

The calculation produces a score from -100 to +100, which is then converted into a 0–100% Buy / Sell representation.

For example:

• 70% Buy / 30% Sell → bullish sentiment bias

• 50% Buy / 50% Sell → balanced sentiment

• 30% Buy / 70% Sell → bearish sentiment bias

Customizable Settings

You can adjust:

• Calculation timeframe

• Sentiment bar width

• Dashboard X position

• Dashboard Y position

• Enable / disable market structure analysis

• Buy color

• Sell color

The indicator can calculate using the current chart timeframe or a separately selected timeframe.

Lightweight Design

ALYAS Market Sentiment is designed to remain simple and lightweight.

It does not create additional indicator plots or complicated chart elements. Instead, it uses a compact graphical dashboard so traders can keep their charts clean while still having a quick overview of the calculated market sentiment.

Important Note

ALYAS Market Sentiment is a technical analysis and market sentiment tool. The Buy/Sell percentages represent a calculated combination of technical conditions and should not be interpreted as guaranteed trading signals or predictions of future price movement.

Market conditions can change rapidly, and the indicator should be used together with proper risk management and the trader's own analysis.

Recommended Use

ALYAS Market Sentiment can be used as:

• A quick market-condition filter

• A confirmation tool alongside a trading strategy

• A trend and momentum overview

• A multi-factor technical analysis dashboard

• A visual way to monitor bullish vs. bearish pressure

Keep your analysis simple. See the market sentiment at a glance with ALYAS Market Sentiment.

Support & Feedback

Thank you for using ALYAS Market Sentiment.

If you find the indicator useful in your market analysis, your review and feedback are greatly appreciated. Your feedback helps other traders discover the product and provides valuable information for future improvements and updates.

For questions, suggestions or technical support, please feel free to contact me through the MQL5 platform.

Thank you for your support.