Signalmatrix Trade Assistant

Combine up to 30 indicators into one signal, trail stops with 9 options, use auto currency lots, partially close positions, display 4 major candle stick patterns on your chart, break even, use risk reward and more.

Signal matrix can send alerts and notifications when all or most of the indicators you turn ON are bullish or bearish.

You get easy one-click trading, easy multi-timeframe analysis while using up to 30 indicators, and a fully minimizable non-intrusive interface.

Download the demo here https://www.mql5.com/en/blogs/post/766973 and run it on a demo account.

How to use signal matrix

For a better explanation you can watch the video tutorial.

You need to make sure your broker allows algo-trading, then make sure that your Mt5 algo-trading in ON both in the Mt5 settings and on Mt5's front end.

There are four buttons on top of the tool

• Trader Hides an unhides the trader panel right below the four main buttons.

• Lines off When clicked it turns to instant rr and instant risk reward lines are drawn on the chart, when any of the lines is dragged (excluding the midline) they move accordingly and all the data in the trader panel is updated in real time.

The midline however follows the bid or ask price and it also adjusts the other lines to maintain the risk reward ratio while the data in the trader panel is updated in real-time. When instant rr is clicked, instant rr button turns to pending rr and you get pending risk reward lines.

These lines are only for placing pending orders. They are similar to the instant risk reward lines except all the three lines can be dragged anywhere on the chart while the data in the trader panel updates in real time.

When you click pending rr you get the lines off button again and all the risk reward lines are deleted from the chart. The buy and sell buttons at the bottom right of the trader panel automatically recognize buys, buy stops and buy limits or sells, sell stops and sell limits, all this depending on the type and positioning of the risk reward lines.

All data on the trader panel cannot be edited manually apart from the lots, if you turned off automatic lots in the inputs, then it means you will be using manual lots and you will be able to edit the lots text field.

NOTE: If the tool is on a lower time frame and you load the RR lines and they don’t appear, you can try clicking the reset button on the risk reward tab, you can also try going to a higher time frame, the 4hour or daily and bringing the lines close enough so they can be visible when you go back to the lower time frame. The reset button should resolve any issues with the risk reward lines.

• Pending x Closes all pending orders.

• Open x Closes all open orders.

Right below the trader panel we have the main indicator panel

Signal matrix has all the main MT5 indicators and most have been split or combined for easier use. As a result it has 55 indicators in total.

When they are turned ON they appear bright, when they give a bullish signal in respect to your settings they glow green on their right, when they give a bearish signal they glow red on their right.

If more of the indicators you have turned on in the settings are bullish, the green button below the main indicator panel will turn green and it will also indicate the number of indicators that are bullish out of all that are ON. The opposite is true if more indicators are bearish.

There are three pages of indicators and you can access all of them by clicking the page like buttons on the top of the indicator panel.

NOTE: ADX, ADX WILDER and ATR are not considered as indicators of bullish or bearish conditions, they are ON by default and do not contribute to the total number of indicators.

The ADX and ADX WILDER will glow blue if there is a trend and yellow if there’s no trend, ATR will glow blue if the volatility is high and yellow if the volatility isn’t high, all this depends on their setting which you can adjust just like the other indicators in the settings section.

So ADX, ADX WILDER and ATR are just meant to be periodically checked for trend and or volatility conditions.

When you click the yellow minimize button on the main indicator panel, you go to the trade management section.

The mini panel on the top left is just a small version of the main indicator panel that updates and shows the bullish and the bearish buttons without showing the indicators.

Right below we have the candlestick patterns which are all customizable in the settings section, you can turn them ON or OFF using the toggles on the side.

ON the right we have the risk reward tab responsible for all the risk reward settings. We also have the trail stop/partial close which is responsible for displaying the trail stop, partial close, break even and 'oco' settings. An important note is that you can only turn on one trail stop option at a time, you can trail stops only to break even by turning ON trail to break even, otherwise stops will be trailed all the way.

If your position is in a loss and you would like it to break even if possible, you just turn ON 'B even' and you can set a particular number of pips beyond break even to close your position, just remember to never turn 'B even' ON when your position is in profit because it will be closed instantly.

The partial closes when turned ON while a position is open will not interfere with the position, they will always be drawn above or below current price depending on whether the position is a buy or sell.

Next, we have 'Min Bal' which is where you can protect your account equity by turning the toggle on the side ON. it use a percentage set in the settings and when the 'Min Bal' value is reached, signal matrix will close all open positions.

Input settings

Main settings

Inpmagicnumber - This is a unique number assigned to the tool incase you have opened it on multiple charts, each variation must have a unique magic number.

Minimum balance percentage - This is where you set the minimum equity as a percentage at which all open positions will be closed to protect the account.

Automatic lot size - This if ON will calculate your lot size in real time as the risk reward lines are dragged. If it's off you will be using manual lots and the lots field on the trader panel will be editable.

Automatic lot size account risk - This is where you put the percentage of your account you are willing to risk so as to calculate the automatic lot size above.

Maximum automatic lot size - This is where you put the maximum lot size you are willing to use when automatic lot size is ON.

Alert/notify when ALL indicators ON are bullish or bearish - This will allow you to receive alerts or notifications ONLY when ALL the indicators you turned ON are either bullish or bearish.

Alert/notify when MOST indicators ON are bullish or bearish - This will allow you to receive alerts or notifications when MOST and not necessarily ALL the indicators you turned ON are either bullish or bearish.

Email notifications - You turn this ON if you want to get email notifications when the chart is bullish or bearish, before you turn it ON you must set up email notifications on your MT5 which is a standard procedure and you can find the process online.

Alerts - When this is turned ON, you will receive bullish or bearish alerts straight on your Mt5 terminal.

Bullish alert/notification text - This is the bullish text you receive when email notifications or alerts is ON.

Bearish alert/notification text - This is the bearish text you receive when email notifications or alerts is ON.

Font size 10 Max - This is the font size setting of all the text on the tool, it cannot go beyond 10px and below 8px.

Trailing stop settings

This is where you can customize all the settings of the indicators that are used when trailing stops.

Candlestick patterns

This is where you can customize all the settings of the candle stick patterns.

Indicator settings

This is where all the indicator settings are and we cannot go through all of them, we will just explain how they work since everything is quite intuitive.

Some of the indicators have been split or combined into two for efficiency resulting in about 55 total indicators. You can set any number or all of indicators to true. You can then choose under them, the bearish or bullish conditions you want.

To avoid false signals, all the signals are generated on candle close.

As highlighted earlier ADX, ADX WILDER and ATR are just meant to be periodically checked for trend and or volatility conditions. They always true/ON when signal matrix is loaded onto any chart.

If to have set to true 10 indicators and 7 are bullish while 3 are bearish, signal matrix will give you a bullish signal and the green button bellow the main panel or in the lower mini panel will glow green. if 5 indicators are bullish while 5 are bearish then the bullish and the bearish buttons will remain dark.

If 6 or more are bearish while 4 are bullish then the bearish button will glow red.

NOTE: You can turn ON only one or as many indicators as you want and it doesn’t matter if ADX, ADX WILDER and ATR are ON or OFF because they don’t add to the bearish or bullish tally.

If you set the bullish and bearish conditions without setting the indicator to true, the indicator will remain off and it won’t show anything.

To turn an indicator ON you set it to true, then below the indicator name will be the indicator settings which you can adjust as you wish.

below the settings, preceded by the > sign are the bullish and bearish conditions for the indicator which you can adjust accordingly. If you set an indicator to true and do not adjust its bullish and bearish conditions, it will remain off and won't show on the main panel.