Signal To Noise Ratio Panel
Trend-following systems work when price is moving with some coherence and lose money when it is chopping around a fixed level. This panel gives that distinction a number. A "signal" component is built from a fast-minus-slow SMA bandpass (a MACD-style swing line), a "noise" component from the average absolute bar-to-bar change over the same window, and the two are turned into a power ratio expressed in decibels: 10*log10(signalPower / noisePower) - the same convention Ehlers uses so the reading is interpreted the same way. Roughly above 6dB is commonly read as a clean trending stretch, roughly below 0dB as noise-dominated chop, with level lines drawn at both for reference. This is stated plainly as a practical, self-contained adaptation, not a port of Ehlers' full MESA/Hilbert-Transform dominant-cycle code, which needs an adaptive cycle-period estimate this file does not attempt. Dressing up a simpler construction as the original algorithm's output would be dishonest about what the number actually measures; the fixed-period bandpass-vs-noise-power approach here is transparent about its own assumptions while giving a genuinely useful reading of trend versus chop. Notes and limitations - Non-repainting: every value depends only on completed bars within its trailing window. - This is a simplified, honestly-labelled proxy for the amplitude-vs-noise idea, not the original MESA Hilbert Transform SNR calculation - see the full description. - The dB scale is clipped for display purposes between -10 and +20 via the indicator's fixed min/max window, but the underlying calculation is not clamped - a reading pinned at either edge just means the display range no longer covers it. - The 0dB/6dB reference levels are common rules of thumb, not hard thresholds calibrated to any specific instrument.
Indicator · MT5 · v1.0 · Free
About Signal To Noise Ratio Panel
Signal To Noise Ratio Panel is an indicator for MetaTrader 5 based on Moving Average. It has 4 settings, such as Bandpass short, Bandpass long and Noise period. MQL source code included.
Files in the download: SignalNoiseRatioPanel.ex5, SignalNoiseRatioPanel.mq5, SignalNoiseRatioPanel.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Bandpass short | 8 | Fast SMA leg of the signal (bandpass) proxy |
| Bandpass long | 21 | Slow SMA leg of the signal (bandpass) proxy |
| Noise period | 14 | Window used for both signal power and noise power |
| Smooth period | 5 | Final SMA smoothing applied to the raw dB reading |
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: Price Action · MACD · Moving Average · Buy/Sell Arrows · Trend · MT5 Indicator · MQL5 Source Code