Dear traders,
Here we are again with something new and innovative for our MT5 charts.
This time I've been working on Astral Wave Riding: trend direction, filtered signals and session volume context, brought together in one indicator.
Those of you who have followed the other threads will recognise the idea: give us useful information to read the market and make our own decisions. With Wave Riding, I wanted the relationship between the trend, the signals and their filters to be easily visible on the chart.
You have the trend line and signal markers on the main chart, Strength, Momentum and Context underneath, and a panel showing which conditions pass or block a signal.
Let's get to the charts.
Two markers, two different roles
- Arrows mark changes in trend direction that pass the enabled signal filters.
- Dots mark signals within the existing trend, triggered by Strength, Momentum, or the combination you select.
See the conditions behind the signal
Alignment and Choppiness are enabled by default, with optional Context filtering. Their controls and status are visible in the panel, and your filter choices are retained on that chart. The latest readings and the decision made at the last trend change are shown separately.
Three readings in one Wave View
Strength, Momentum and Context share a chart-aligned subwindow. Choose compact historical ribbons or curves, depending on how you prefer to read them. The ribbons use four coordinated shades to distinguish each reading's lower zone, lower half, upper half and upper zone.
Signals in Trend starts with Strength OR Momentum selected. You can use either source, require both on the same candle, or turn these markers off.
Keep the previous session in view
The side volume profile shows the previous available completed UTC day's estimated volume distribution, including its Point of Control (POC) and Value Area. It helps you place current price in relation to that session.
The profile is visible by default; its optional signal filter is a separate control and starts OFF. Showing a level on the chart does not mean it has filtered the signals. The profile uses the broker's available M1 volume data, so it is an estimate rather than exchange trade-by-trade order flow.
Make the chart comfortable to use
Move or resize the panel, switch between Overview, Wave View and Compact, and choose Quantum colours for the chart elements. Optional trend-coloured candles or OHLC bars and popup, sound, push and email alerts let you adapt the display to your workflow.
Reading the example — BTCUSD, M5
In the attached chart, the BUY arrow on the 00:55 candle was confirmed at 01:00. The dot on 01:45 was a Strength signal within the bullish trend, confirmed at 01:50. You can see the subsequent rise on the chart.
Later, at 11:30, the trend turned bearish, but Alignment and Choppiness blocked the SELL signal. This is why you see a purple trend segment without a downward arrow. The direction changed; the conditions for an admitted short signal were not met.
The Volume Profile filter is OFF in this example. The displayed profile levels became available after the early BUY and dot, so those signals should not be read as entries confirmed by that Value Area. All times are broker chart times.
Astral Wave Riding supports discretionary analysis. It does not execute trades or define your position size, stops, targets or exits. An accepted signal can still fail; those trading decisions remain part of your own method.
I'd be glad to see your charts and hear how you use the different views and filters. Please include your symbol, timeframe and relevant settings when sharing an example or reporting an issue, so we can discuss the same setup.
Love,
+C+
