WaveSniper — Adaptive Trend Filter + Multi-Layer Signal Engine (MT5)

Hi everyone,

I wanted to introduce first WaveSniper, the MT5 indicator I recently published on the Market after months of work converting, optimizing and testing dozens of different approaches (PineScript, ProRealCode, EasyLanguage, various MQL libraries). The core idea wasn't to add yet another oscillator to the pile, but to build an engine that combines a selectable adaptive baseline with a multi-factor scoring system to filter out noise before it turns into a signal.

It's not a "holy grail system", and it's worth saying that upfront: it's a market-reading tool with cross-confirmation, built for traders who want an already-filtered signal flow instead of having to cross-reference 5 indicators by hand.

How it works, in short

WaveSniper operates on two layers:

1. Adaptive baseline (4 selectable profiles)
You can choose between 4 different trend engines depending on your preferred style:
- Adaptive — dynamically adjusts to current volatility
- Smooth Trend — prioritizes visual cleanliness, fewer whipsaws
- Market Structure — more reactive to structure shifts
- Kernel Regression — non-linear statistical approach

The baseline changes color/state (bull/bear/neutral) based on a combination of slope and adaptive threshold — not a simple "price above/below the average".


2. Multi-layer signal engine
This is where WaveSniper differs from most "arrow-based" indicators you find around. Every potential signal goes through a scoring system that evaluates several independent conditions at the same time, including:

- Price excess relative to volatility (ATR-normalized)
- Order-flow imbalance structure
- Pivots and recent price action
- Momentum and directional alignment
- Trend cascade/coherence across multiple bands
- Price triggers on the baseline or on dynamic bands
- Volume filter

A signal is only generated when a minimum number of these conditions align at the same time (configurable threshold). This is why WaveSniper doesn't fire an arrow on every crossover — most "near-signals" get filtered out upstream.

No-repaint by design

A point I was particularly strict about during development: all signals are confirmed on closed bars, using write-once logic — once a signal is written, it is never overwritten or removed on later ticks. Anyone who's used badly converted PineScript indicators knows how frustrating it is to see arrows appear and disappear in visual backtesting or live. With WaveSniper this doesn't happen: what you see after the bar closes is what would have stayed there in real time too.

There's also an optional Slope Gate that adds an extra check on the raw slope of the baseline, to block entries when the trend is already turning but the (smoother) directional state hasn't caught up yet.

Exit handling

Besides Long Entry and Short Entry, the indicator also generates distinct Close Long / Close Short signals, with mutually exclusive logic against entries — no conflicting arrows on the same bar.

Alerts on every channel

- Popup
- Sound
- Push notification
- Email

Configurable separately for entry signals and close signals.

Visuals

5 selectable color themes for the "glow" baseline (Neon Magenta, Electric Cyan, Toxic Lime, Gold, Solar Orange) — it's not just about looks, it's about readability: on noisy intraday timeframes it helps you spot the trend state at a glance.

Who it's for

- Trend-following/swing traders who want a multi-factor confirmation filter instead of a single oscillator
- Traders working across multiple timeframes who want a clean read without stacking 4-5 indicators on the same chart
- Anyone who needs stable signals for manual use (the indicator doesn't place trades on its own — it's built for discretionary reading or as a base for future automation)

Technical specs

- Platform: MetaTrader 5
- Type: Standalone indicator, no external dependencies
- Timeframes: any
- Symbols: any (forex, indices, metals, crypto CFDs — broker-dependent)
- Repainting: none (signals confirmed on closed bars)


If you have questions about how it behaves on specific symbols/timeframes, or any technical doubts, happy to answer here in the thread.

AlgoAlex81