Waddah Attar Explosion
Waddah Attar Explosion answers a narrower question than most momentum indicators: not "is momentum up or down" but "is this momentum reading big enough to trust". The histogram itself is how much the fast-minus- slow EMA spread changed this bar, scaled up so it is readable on its own axis. Read alone, that would flag every minor wiggle along with genuine breakouts. So two reference lines are plotted alongside it: a Bollinger Band width line, which widens naturally when the market has room to move and narrows when it is compressed, and an ATR-based dead-zone line, which sets a noise floor scaled to the instrument's own typical range. A bar only counts as a confirmed breakout when the histogram clears both lines simultaneously - clearing only the dead zone is still inside normal noise for a squeezed market, and clearing only the explosion line without enough raw momentum behind it is a false positive from a market that merely got quiet. Every value read here - the two EMAs, the Bollinger Bands, the ATR - is read directly off this bar's own built-in platform calculation. Nothing in this indicator accumulates state between bars, so nothing here can repaint once a bar has closed. Notes and limitations - Needs roughly SlowEmaPeriod + DeadZonePeriod bars of history before the first value appears; earlier bars are intentionally left empty. - The histogram magnitude and the two reference lines are on different underlying units (a scaled EMA-spread change versus price-range measures) - the sensitivity input can be retuned per instrument, but changing it does not alter the "clears both lines" logic itself. - This flags confirmed momentum, not direction reliability by itself - it is normally read alongside a trend filter, not traded standalone. - The forming, still-open bar's histogram and both lines can still move tick to tick as the bar develops - that is normal intrabar update for any live oscillator, not repainting of a closed bar.
Indicator · MT5 · v1.0 · Free
About Waddah Attar Explosion
Waddah Attar Explosion is an indicator for MetaTrader 5 based on Moving Average, Bollinger Bands and ATR. It can alert you with a pop-up, sound, email or push message. It has 8 settings, such as Sensitivity, Fast ema period and Slow ema period. MQL source code included.
Files in the download: WaddahAttar.ex5, WaddahAttar.mq5, WaddahAttar.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Sensitivity | 150 | Scales the raw MACD-spread change up to histogram size |
| Fast ema period | 20 | Fast EMA period for the underlying MACD spread |
| Slow ema period | 40 | Slow EMA period for the underlying MACD spread |
| Bands period | 20 | Bollinger Bands period used for the explosion line |
| Bands deviation | 2.0 | Bollinger Bands standard-deviation multiplier |
| Dead zone period | 100 | ATR period used for the dead-zone line |
| Dead zone multiplier | 3.7 | ATR multiplier setting the noise floor |
| Alerts | true | Alert once per closed bar when momentum clears both lines |
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: Breakout · MACD · Moving Average · Bollinger Bands · ATR · Momentum · Alerts · MT5 Indicator · MQL5 Source Code