Signal Density Heatmap
A backtest report saying a rule fired 340 times with a given win rate does not say WHEN those fires happened. If two hundred of them all cluster into the same three-hour window every trading day, the "340 independent setups" are really a much smaller number of genuinely different market conditions, sampled repeatedly - the win rate is really describing one recurring session, not the rule in general. This indicator makes that visible directly: it scans history for every fire of a self-contained RSI re-entry rule, buckets each one by hour (0-23, terminal time) and weekday, and draws a 7-row by 24-column heatmap panel in the corner of the chart, shaded from cool (few fires) to hot (many fires). The base rule counts either direction (RSI re-entering from oversold or from overbought) toward the same density count, because the panel's job is to answer "when does this rule fire", not "which side does it favour" - a separate question the trader can already see from the signal itself on any chart running the rule. Reading the grid is the point of the tool: a genuinely broad-based rule should show a roughly even scatter of warm cells across the week; a rule that is secretly a time-of-day artefact shows one or two hot columns and very little everywhere else. Notes and limitations - Hour and weekday are read from the terminal's own clock (server time), not the trader's local time or any specific market's open - convert manually if a different reference is needed. - The base rule is a plain RSI re-entry signal, not a pluggable external rule; the heatmap only ever describes this specific rule's own timing. - A symbol with a trading halt or thin session (e.g. weekend crypto gaps, or a Friday-close/Sunday-open FX gap) will naturally show near-zero density in those buckets - that is a data availability effect, not a finding about the rule. - Recomputes the full grid on every new bar close, not on every tick.
Indicator · MT5 · v1.0 · Free
About Signal Density Heatmap
Signal Density Heatmap is an indicator for MetaTrader 5 based on RSI. It has 7 settings, such as Rsi period, Rsi oversold and Rsi overbought. MQL source code included.
Files in the download: SignalDensityHeatmap.ex5, SignalDensityHeatmap.mq5, SignalDensityHeatmap.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Rsi period | 14 | RSI period driving the base signal |
| Rsi oversold | 30.0 | Buy signal: RSI crosses back ABOVE this level |
| Rsi overbought | 70.0 | Sell signal: RSI crosses back BELOW this level |
| Max history bars | 5000 | How far back to scan when building the heatmap |
| Cell pixels | 14 | Size of each heatmap cell, in chart pixels |
| Corner x | 20 | Panel offset from the left of the chart |
| Corner y | 20 | Panel offset from the top of the chart |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 5 open File → Open Data Folder, then go to MQL5 → Indicators.
- Copy the .mq5 file(s) there. Put any .mqh files in MQL5 → Include.
- Open the .mq5 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Grid · RSI · Buy/Sell Arrows · Trading Sessions · MT5 Indicator · MQL5 Source Code