Overwatch, the multi timeframe indicator MT5 that only fires when everything agrees
Most losing trades are taken against something bigger. The five minute chart says buy while the hour chart is falling apart, and the trade dies in ten candles. Overwatch is a multi timeframe indicator MT5 that builds three larger horizons out of the chart you are already on and stays silent until all three point the same way.
The arrow does not repaint, does not move and does not disappear. It needs a closed candle, and once it prints it stays exactly where it printed.
Click the image to enlarge
Real chart, EURUSD on M5. The three horizons are all pointing down, price bounces for two candles, and then one candle closes under the previous one. The sell arrow prints at 1.14525 with the stop above the bounce at 1.14591, a risk of only 7 pips. From there the euro fell to 1.14335, a move of 19 pips, almost three times the risk. Every price comes from the exact candle history of that chart.
Three horizons without opening three charts
The usual way to check the bigger picture is to open another window and squint at it. Instead, this tool aggregates the candles of your own chart into longer horizons, so the fast, the mid and the slow view live on the same screen. Therefore nothing depends on another timeframe being downloaded, and nothing changes when you switch brokers.
As a result the dots tell you at a glance when the market is aligned, and the arrows only appear when the pullback inside that alignment has ended. That is the moment the trend resumes, which is the cheapest place to get in.
What this multi timeframe indicator MT5 checks before it fires
- The fast horizon. Price has to be above or below where it stood a dozen candles ago.
- The mid horizon. Then the same has to be true four times further back.
- The slow horizon. After that, the longest view has to agree as well.
- The pullback. Finally, a candle against the trend must appear, and the next close has to take out its extreme.
Besides, a gap between signals on the same side keeps the chart from filling with arrows during one long run.
How to trade the signals
- Enter on the close of the arrow candle. By then the pullback is over.
- Stop on the other side of the pullback, which is usually only a few pips away.
- Hold while no opposite arrow appears. This one is built to be left running, so a trend can pay for the whole session.
- Take partials at the old extreme. Also, moving the stop to entry after the first push keeps the trade free.
Markets and timeframes
| EURUSD | M5, the example above |
| Gold XAUUSD | M5 |
| All major pairs | M5 to H1, the same rules |
M5 is the sweet spot, because the three horizons then cover roughly one hour, four hours and half a day. In practice, higher charts give fewer and slower signals with the same logic.
What is inside
- Dots on every candle where the three horizons agree.
- Arrows on closed candles only. They do not repaint, move or disappear.
- Editable horizons, pullback length and gap between signals.
- Popup, sound, push and email alerts, each one switchable.
- Premium dark chart theme, applied on attach and restored on remove.
Besides, it reads price only, so any broker and any account works. If you want robots that trade by themselves, browse our automated robots, and the rest of the manual set is in our chart tools for traders.
Questions about this multi timeframe indicator MT5
Does it repaint? No. Every horizon is built from candles that already closed, and so is the arrow.
Do I need to load other timeframes? No. The horizons come from the chart you are on, which is why nothing lags behind.
Can I hold the trade for hours? Yes. While no opposite arrow prints, the alignment is still there, and trend following rewards exactly that patience.
Do you have the other version? Yes. This is the MetaTrader 5 build, and Overwatch for MT4 builds the same horizons on MetaTrader 4.
Trading involves risk. Signals are information, not advice, so try any new tool on a demo account first and only trade money you can afford to lose.
