Daily Bias Trading View Indicator: Four Weighted D1 Scores

Written by Dominic Walsh · Published 6 Aug 2026 · Last updated 26 Aug 2026

The daily bias trading view indicator answers one question: which way is the day leaning? Four components each vote, each carries a weight, and the total decides the verdict. Every reading comes from the daily series, so the answer is identical whether you attach it to M5 or H4.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	3: D1 trend – bullish day, D1 trend – bearish day, D1 trend – neutral day
Alerts	popup, push notification, email, sound
Inputs	51

What the Daily bias trading view Indicator draws on the chart

D1 trend – bullish day colours the days the score called upward.

D1 trend – bearish day and D1 trend – neutral day take the other two verdicts.

Trend line objects mark the previous daily high, low and midpoint when InpShowLevels stays on.

A gold line marks the daily open under InpShowD1Open.

A corner panel shows each component score, its weight and the running total.

• D1 trend – bullish day: line, lime green, width 3
• D1 trend – bearish day: line, crimson, width 3
• D1 trend – neutral day: line, slate gray, width 3

How the Daily bias trading view Indicator calculates its values

Close against the daily open

The oldest daily bias read there is: where the day closed relative to where it opened. The difference has to clear a dead band before it counts.

InpFlatAtrFrac sets that dead band as a fraction of daily ATR, 0.05 by default, which stops a two pip drift from casting a vote.

Break of structure, and position in yesterday range

A daily close beyond the previous daily high or low scores a break. The current day gets checked first and the day before second, so a fresh break outranks a stale one. This component carries the heaviest weight at 1.5.

Position asks where the close sits inside yesterday envelope as a fraction. Above InpUpperPct votes up and below InpLowerPct votes down, defaulting to 0.60 and 0.40 so the component actually votes rather than sitting on the fence.

Slope, and the verdict

The fourth component measures the slope of a daily average over InpMaPeriod bars, across InpSlopeBars, against the InpSlopeThresh floor.

Each component returns minus one, zero or plus one, gets multiplied by its weight, and the code sums the four. InpVerdictScore sets how large that total has to be before the tool calls the day rather than leaving it neutral.

How to read the signals

The verdict is a daily object, so it does not change because you switched chart timeframe.

The panel shows which components agreed, which matters more than the headline colour.

A neutral day means the weighted total never cleared InpVerdictScore, not that the components all read zero.

Break of structure carries the largest weight, so a fresh daily break can outvote two other components.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

Alerts cover popup, push, email and sound when the verdict changes. A bar time check keeps it to one alert per closed bar.

Every Daily bias trading view Indicator input

Core settings: Daily series

Setting	What it does	Default
InpD1Bars	D1 bars pulled for the EMA, the ATR and the history. InpD1Bars is how many daily bars get loaded for the scoring, 300 by default.	300
InpMergeSunday	Fold the short Sunday bar forward into Monday. InpMergeSunday folds the short Sunday session into Monday. It defaults to true.	on
InpDayShiftHours	Hours added to the D1 open when chart bars are mapped.	0
InpUseClosedDay	Judge the last CLOSED day instead of the forming one. InpUseClosedDay scores the last completed day rather than the forming one. It defaults to false.	off
InpMaPeriod	D1 EMA period behind the slope component. InpMaPeriod is the daily average behind the slope component, 20 by default.	20
InpSlopeBars	Days the EMA slope is measured over.	3
InpAtrPeriod	D1 ATR period (Wilder) used to normalise everything.	14

Core settings: Component thresholds

Setting	What it does	Default
InpFlatAtrFrac	Close-vs-open dead band as a fraction of the D1 ATR. InpFlatAtrFrac is the dead band on the open component, as a fraction of daily ATR. It defaults to 0.05.	0.05
InpUpperPct	Previous-range position above this counts bullish. InpUpperPct is the fraction of yesterday range above which the position component votes up, 0.60 by default.	0.60
InpLowerPct	Previous-range position below this counts bearish. InpLowerPct is the matching floor at 0.40.	0.40
InpSlopeThresh	EMA slope in ATR per day needed to count.	0.02

Core settings: Component weights

Setting	What it does	Default
InpWeightOpen	Weight of the close-versus-daily-open component.	1.0
InpWeightBos	Weight of the break-of-structure component. InpWeightBos weights the break of structure component at 1.5, the heaviest of the four.	1.5
InpWeightRange	Weight of the previous-range position component.	1.0
InpWeightSlope	Weight of the D1 EMA slope component.	1.0
InpVerdictScore	Absolute score needed for a BULLISH / BEARISH verdict. InpVerdictScore sets the weighted total a day must reach before the tool calls it, 25.0 by default.	25.0

Core settings: Touches a component, a weight, a threshold or the verdict)

Setting	What it does	Default
InpMaxRayTags	Cap on how many reference captions are drawn.	4
InpTagGapPx	Caption gap from its ray in PIXELS, never points.	16
InpPriceScalePx	Right margin owned by the price scale, in pixels.	62
InpOneClickWpx	Width of the one-click trade panel zone, top-left.	260
InpOneClickHpx	Height of the one-click trade panel zone, top-left.	100

Core settings: Panel

Setting	What it does	Default
InpX	Panel X offset (px).	14
InpY	Panel Y offset (px) – clears the one-click panel.	120
InpGaugeW	Score gauge cell width (px).	20
InpGaugeH	Score gauge cell height (px).	14
InpRefreshSec	Minimum seconds between two full recalculations.	2

Display settings

Setting	What it does	Default
InpShowTrendLine	Paint the D1 EMA on the chart in the verdict colour.	on
InpShowLevels	Thin dotted previous-day high / low / mid rays.	on
InpShowD1Open	Dashed ray on the daily open of the judged day.	on
InpLevelColor	Previous-day high and low ray colour.	medium orchid
InpMidColor	Previous-day mid ray colour.	dim gray
InpOpenColor	Daily open ray colour.	gold
InpBullColor	Bullish verdict colour.	lime green
InpBearColor	Bearish verdict colour.	crimson
InpNeutColor	Neutral verdict colour.	slate gray
InpCapFontSize	Reference caption font size.	9
InpLabelEdgePadPx	Padding kept clear at the chart edges, in pixels.	10
InpAvoidPanel	Keep captions clear of the info panel.	on
InpShowPanel	Show the bias breakdown panel.	on
InpCorner	Panel corner (0=UL 1=UR 2=LL 3=LR).	0
InpFontSize	Panel font size.	9
InpFont	Panel font (monospaced keeps the columns square).	Consolas
InpPanelBg	Panel background colour.	RGB 22,10,32
InpBorderColor	Panel border colour.	medium purple
InpTextColor	Panel body text colour.	gainsboro

Alert settings

Setting	What it does	Default
EnableAlerts	Master alert switch.	on
EnablePopup	Terminal popup alert.	on
EnablePushNotify	Push notification to the MetaQuotes ID.	off
EnableEmail	E-mail alert (Tools > Options > Email).	off
EnableSound	Play a sound file when the verdict changes.	off
SoundFile	Sound file in the terminal Sounds folder.	alert.wav

Settings that fit your chart

The screenshot uses EURUSD H1. Because every reading comes from the daily series, the chart you attach it to changes nothing about the verdict, only where you happen to be reading it. Intraday charts are the natural home, since that is where a daily view adds context you cannot already see.

When the Daily bias trading view Indicator fails

Four components on one instrument is a narrow sample. They can all agree and still be wrong about the session ahead.

Scoring the forming day means the verdict can change as that day develops. Setting InpUseClosedDay to true trades that for a view that is always one day behind.

Daily boundaries follow the broker clock, so two brokers in different server timezones can score the same market differently unless you match InpDayShiftHours.

The weights hold fixed conventions rather than fitted values. No one tuned them against outcomes.

Copy the compiled Daily bias trading view Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Related on forexmt4systems.com: Range Trading Strategy.

Background reading on the method behind the Daily bias trading view Indicator: Status quo bias on Wikipedia, Decisionpoint Intermediate Term Breadth Momentum Oscillator Itbm at StockCharts ChartSchool.

Download the Daily bias trading view Indicator for MT4 and MT5

The zip holds the compiled Daily bias trading view Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

Does the verdict change if I switch from M5 to H4?

No. Every component reads the daily series explicitly rather than the chart series, so the score is a daily object. Attaching it to a different timeframe changes where you read the verdict and never what it says.

Why does InpWeightBos default higher than the others?

InpWeightBos defaults to 1.5 against 1.0 for the other three. A daily close beyond the previous daily high or low is a harder event to produce than a close on one side of the open, so it earns more say in the total. You can change the weight.

What does InpFlatAtrFrac 0.05 prevent?

A tiny drift from voting. The close against open component only scores once the difference clears five percent of the daily ATR. Without that dead band a day finishing two pips above its open would count as fully bullish, which it plainly is not.

Should I set InpUseClosedDay to true?

It depends on whether you want a verdict that is stable or current. Left false, the score reads the forming day and can change as it develops. Set true, it reads the last completed day, which never changes but is always one day behind the market.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Daily bias trading view Indicator as one input. Always backtest before trading live.