Trend Ribbon Indicator for MT4 and MT5

Written by Dominic Walsh · Published 14 Jul 2026 · Last updated 24 Sep 2026

A ribbon earns its keep by showing agreement at a glance. The trend ribbon indicator spreads six exponential averages evenly from eight bars out to forty-eight, shades them from pale aqua to navy, and marks the bar where the fastest line crosses the slowest one.

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	8: Ribbon 1, Ribbon 2, Ribbon 3, Ribbon 4, Ribbon 5, Ribbon 6, Ribbon Buy, Ribbon Sell
Alerts	popup, push notification, email, sound
Inputs	11

What you see once it loads

Six ribbon lines and two marks.

`Ribbon 1` traces aqua as the quickest line.

`Ribbon 6` traces navy at width 3 as the slowest.

Widths grow from one to three as the lines slow.

`Ribbon Buy` prints lime using arrow 233.

`Ribbon Sell` prints red using arrow 234.

• Ribbon 1: line, aqua, width 1
• Ribbon 2: line, deep sky blue, width 1
• Ribbon 3: line, dodger blue, width 1
• Ribbon 4: line, royal blue, width 2
• Ribbon 5: line, medium blue, width 2
• Ribbon 6: line, navy, width 3
• Ribbon Buy: arrow, lime, width 2, arrow code 233
• Ribbon Sell: arrow, red, width 2, arrow code 234

What the code actually computes

Spreading the lengths

`FastPeriod` `8` and `SlowPeriod` `48` bound the ribbon. Four more lines sit at even steps between them, so the band widens smoothly as a trend builds.

Flip on the outer pair

Only the outer pair decides a mark. When the quickest line crosses above the slowest, the buy prints; the lines between are there for you to read by eye.

Spacing the marks

`ATRPeriod` `14` gives a range figure, and `ArrowOffsetATR` `0.6` sets each mark that fraction of it away from the candle.

What the output means

Lines fanned wide mean the pace is steady.

Lines pinched together mean the trend is stalling.

Pale over dark means the short end leads upward.

The mark only fires on the outer pair.

`ShowArrows` hides the marks and keeps the ribbon.

Warm-up needs forty-eight bars.

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

The outer pair flipping is what gets reported. `EnableAlerts` decides whether it goes out and a popup handles it by default, while the handset, mail and desktop clip behind `SoundFile` wait.

Every Trend Ribbon Indicator input

Core settings

Setting	What it does	Default
FastPeriod	fastest ribbon EMA length. Length of the quickest ribbon line, `8`.	8
SlowPeriod	slowest ribbon EMA length. Length of the slowest, `48`.	48
ATRPeriod	ATR length for arrow spacing. Window behind mark spacing, `14`.	14

Display settings

Setting	What it does	Default
ArrowOffsetATR	arrow offset in ATR units. Range share used as the gap, `0.6`.	0.6
ShowArrows	draw ribbon-flip arrows. Draw the flip marks, `true`.	on

Alert settings

Setting	What it does	Default
EnableAlerts	Decides whether a flip is reported, `true`.	on
EnablePopup	A popup handles it, `true`.	on
EnablePushNotify	A handset can take it, `false`.	off
EnableEmail	Mail can take it, `false`.	off
EnableSound	(see inputs panel)	off
SoundFile	The desktop clip, `”alert.wav”`.	alert.wav

Fitting the settings to a market

Forty-eight bars at the slow end wants a chart with steady trends. EURUSD H1 is the reference chart, where a flip comes every few days. On M5 the ribbon tangles often. On D1 a single fan can last a season.

What it misses

An outer-pair flip arrives late by design.

Pinched ribbons produce flips that fail fast.

Six lines add clutter to a busy chart.

Agreement between averages is not a forecast.

Copy the compiled Trend Ribbon 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.

Background reading on the method behind the Trend Ribbon Indicator: Moving Average Ribbon at Investopedia, Exponential smoothing on Wikipedia.

Download the Trend Ribbon Indicator for MT4 and MT5

The zip holds the compiled Trend Ribbon 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

Which lines decide a Ribbon Buy mark?

Only the quickest and the slowest. `Ribbon 1` crossing above `Ribbon 6` prints the buy; the four lines between them show the shape of the trend but play no part in the test.

How are Ribbon 2 to Ribbon 5 spaced out?

They sit at even steps between `FastPeriod` `8` and `SlowPeriod` `48`. That spacing is what makes the band open and close smoothly rather than in jumps.

What does a pinched ribbon mean?

All six lines agree on roughly the same price, which happens when a trend stalls. Flips from a pinched ribbon tend to reverse quickly, so they deserve less weight.

Can I keep the ribbon but drop the marks?

Yes. Setting `ShowArrows` to false hides the flip marks and leaves all six lines in place, which suits anyone who reads the fan by eye.

Are results guaranteed?

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