Hello Traders,
I would like to introduce Alpha Pointer, a non-repainting adaptive trend indicator for MetaTrader 5 that combines a momentum-driven CCI selector with ATR-displaced bands to produce a single color-coded trend line that ratchets in one direction during bullish regimes and the opposite during bearish regimes. The indicator is currently completely FREE — download it now at no cost.
HOW IT WORKS
The Trend Magic Engine
On every confirmed bar, the indicator computes the True Range and takes a Simple Moving Average over the ATR period (default: 5) to form two candidate bands — an upper band at High + ATR × Multiplier and a lower band at Low − ATR × Multiplier. The CCI of the chosen source (default: Close, period 20) then selects which band drives the trend line.
When CCI is at or above zero, the engine takes the maximum of the previous trend line value and the lower band — meaning the line never falls during a bullish regime. When CCI is below zero, it takes the minimum of the previous trend line value and the upper band — the line never rises during a bearish regime. This ratcheting behavior produces the characteristic stair-step shape that makes trend direction instantly readable at a glance.
Direction Latch
The displayed direction is decided by crossover events on closed bars only. When the bar low crosses above the trend line, direction latches bullish and the line color flips to mint-green. When the bar high crosses below the trend line, direction latches bearish and the line flips to red. Between flips the previous direction is held — the indicator does not toggle on every CCI sign change, only on actual confirmed price interaction with the line.
Swing-Anchored Arrows
When direction changes from bear to bull, the indicator places an up arrow at the lowest low of the most recent configurable lookback window (default: 21 bars). When direction changes from bull to bear, a down arrow is placed at the highest high of the same window. Arrows always sit at meaningful structural points rather than at the bar where the line color happened to flip. Once placed, arrows are never moved or removed.
Optional Smoothing
The raw trend line can be smoothed with a moving average for cleaner regime detection in noisy conditions. Five MA types are available — SMA, EMA, SMMA (RMA), WMA, and VWMA. Smoothing is disabled by default for maximum responsiveness. With smoothing enabled at the default length (14), the line is more stable but lags by approximately half the MA length.
KEY FEATURES
Non-repainting — every value locked at bar close, never updates intra-bar
Single color-coded trend line — mint-green during bullish regimes, red during bearish
ATR-adaptive bands — automatically scales to instrument volatility
CCI direction selector — configurable period and source
Ratcheting state machine — line never reverses direction within an active regime
7 source options — Close, Open, High, Low, HL2, HLC3, OHLC4
5 smoothing modes — SMA, EMA, SMMA (RMA), WMA, VWMA — toggle on or off
Swing-anchored arrows — placed at structural extremes, never repaints or moves
3 alert events — Bullish Trend, Bearish Trend, Any Trend Shift
4 alert channels — popup, sound, email, push notification — independently toggleable
Identical math and identical look between MT4 and MT5 builds
Works on all symbols — Forex, XAUUSD, indices, commodities, crypto
Works on all timeframes
COMPATIBILITY NOTES
I would like to introduce Alpha Pointer, a non-repainting adaptive trend indicator for MetaTrader 5 that combines a momentum-driven CCI selector with ATR-displaced bands to produce a single color-coded trend line that ratchets in one direction during bullish regimes and the opposite during bearish regimes. The indicator is currently completely FREE — download it now at no cost.
HOW IT WORKS
The Trend Magic Engine
On every confirmed bar, the indicator computes the True Range and takes a Simple Moving Average over the ATR period (default: 5) to form two candidate bands — an upper band at High + ATR × Multiplier and a lower band at Low − ATR × Multiplier. The CCI of the chosen source (default: Close, period 20) then selects which band drives the trend line.
When CCI is at or above zero, the engine takes the maximum of the previous trend line value and the lower band — meaning the line never falls during a bullish regime. When CCI is below zero, it takes the minimum of the previous trend line value and the upper band — the line never rises during a bearish regime. This ratcheting behavior produces the characteristic stair-step shape that makes trend direction instantly readable at a glance.
Direction Latch
The displayed direction is decided by crossover events on closed bars only. When the bar low crosses above the trend line, direction latches bullish and the line color flips to mint-green. When the bar high crosses below the trend line, direction latches bearish and the line flips to red. Between flips the previous direction is held — the indicator does not toggle on every CCI sign change, only on actual confirmed price interaction with the line.
Swing-Anchored Arrows
When direction changes from bear to bull, the indicator places an up arrow at the lowest low of the most recent configurable lookback window (default: 21 bars). When direction changes from bull to bear, a down arrow is placed at the highest high of the same window. Arrows always sit at meaningful structural points rather than at the bar where the line color happened to flip. Once placed, arrows are never moved or removed.
Optional Smoothing
The raw trend line can be smoothed with a moving average for cleaner regime detection in noisy conditions. Five MA types are available — SMA, EMA, SMMA (RMA), WMA, and VWMA. Smoothing is disabled by default for maximum responsiveness. With smoothing enabled at the default length (14), the line is more stable but lags by approximately half the MA length.
KEY FEATURES
Non-repainting — every value locked at bar close, never updates intra-bar Single color-coded trend line — mint-green during bullish regimes, red during bearish ATR-adaptive bands — automatically scales to instrument volatility CCI direction selector — configurable period and source Ratcheting state machine — line never reverses direction within an active regime 7 source options — Close, Open, High, Low, HL2, HLC3, OHLC4 5 smoothing modes — SMA, EMA, SMMA (RMA), WMA, VWMA — toggle on or off Swing-anchored arrows — placed at structural extremes, never repaints or moves 3 alert events — Bullish Trend, Bearish Trend, Any Trend Shift 4 alert channels — popup, sound, email, push notification — independently toggleable Identical math and identical look between MT4 and MT5 builds Works on all symbols — Forex, XAUUSD, indices, commodities, crypto Works on all timeframesCOMPATIBILITY NOTES
- All trend line values and direction states are locked at bar close — no intra-bar updates or retroactive changes
- Direction latches only on confirmed price crossover events, not on CCI sign changes alone
- Smoothing introduces lag approximately equal to half the MA length — disable for fastest response
- Identical calculation between MT4 and MT5 builds ensures consistent behavior across platforms
SPECIFICATIONS
- Platform: MetaTrader 5 (MT4 version also available)
- Symbols: All symbols — Forex, XAUUSD, indices, commodities, crypto
- Timeframes: All timeframes supported
- Signal Type: ATR + CCI regime detection on confirmed closed bar
- Arrows: Swing-anchored at structural extremes on direction change
PRODUCT LINKS
️️️️️ Alpha Pointer MT5
️️️️️ Alpha Pointer MT4
MQL5 Channel
All Products
The indicator is currently FREE — no cost, no trial period, just download and use. I welcome any questions about CCI configuration, ATR multiplier settings, smoothing mode selection, or alert setup. Happy to assist via private message.
Please trade responsibly and always combine signals with your own market analysis.
Trade what you see not what you think!