About the Elder Impulse System Indicator
The Elder Impulse System for MT5 is a MACD-based trading indicator that signals potential market entries and reversals using colored blocks in a separate window below the main price area.
It is designed for traders of all experience levels, from beginners to experts.
The indicator uses three colors to communicate market sentiment.
Green blocks indicate bullish momentum, red blocks indicate bearish momentum, and gray blocks signal neutral conditions.
This visual approach allows traders to quickly assess market direction and make informed decisions on when to enter or exit trades.
The system calculates signals based on a combination of EMA and MACD parameters.
Users can adjust inputs such as EMA period, MACD fast and slow periods, and other settings to tailor the indicator to their preferred trading style and timeframe.
By observing the sequence and color of impulse blocks, traders can align their trades with the prevailing market trend or anticipate potential reversals.
This indicator is particularly useful for traders who prefer clear trading signals without complex analysis.
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Elder_Impulse_System.mq5 Indicator (MT5)
Key Features
- MACD-based system providing clear buy, sell, and neutral signals.
- Green blocks indicate bullish momentum, red blocks indicate bearish momentum, gray blocks are neutral.
- Entry and exit guidance directly from the colored blocks.
- Customizable EMA and MACD parameters for flexible signal timing.
- Newbie-friendly design, suitable for all experience levels.
Indicator Chart
The Elder Impulse System appears in a separate window below the main price area as green, red, or gray blocks.
Each block represents the market’s current impulse, showing potential buy, sell, or neutral periods.
Traders use the block colors to identify favorable trading opportunities and monitor momentum shifts that could indicate reversals or trend continuation.
Guide to Trade with Elder Impulse System
Buy Rules
- Wait for the first green impulse block to appear in the indicator window.
- Confirm that price action and trend context support bullish conditions.
- Open a buy trade when the green block aligns with market momentum.
- Monitor subsequent blocks to assess when momentum weakens or reverses.
Sell Rules
- Wait for the first red impulse block to appear in the indicator window.
- Confirm that price action and trend context support bearish conditions.
- Open a sell trade when the red block aligns with market momentum.
- Monitor subsequent blocks to evaluate potential trend continuation or reversal.
Stop Loss
- Place stop loss slightly below the most recent support for buy trades.
- Place stop loss slightly above the most recent resistance for sell trades.
- Maintain consistent risk management for each position.
Take Profit
- Close all buy trades when the first red impulse block appears.
- Close all sell trades when the first green impulse block appears.
- Partial profit-taking can be applied if the trend is strong and continues beyond the block change.
- Optionally, combine with nearby support or resistance levels for more precise exits.
MT5 Elder Impulse System Day Trading Strategy
This day trading strategy combines the Elder Impulse System Indicator with the Triple Jurik Smooth Moving Average Indicator to create a trend and momentum based approach for intraday trading.
The Elder Impulse System is designed to measure both trend direction and momentum at the same time.
Green impulse blocks indicate bullish momentum, while red blocks signal bearish conditions.
This makes it easier to quickly understand whether buyers or sellers are in control of the market.
The Triple Jurik Smooth Moving Average strengthens trend confirmation by using multiple smoothed moving averages to reduce noise and filter weak price fluctuations.
When all three signal lines are green, the market is considered strongly bullish.
When all three turn violet, it confirms a strong bearish environment.
This strategy works best on M15 and H1 charts during the London and New York sessions.
Buy Entry Rules
- Confirm the Elder Impulse System shows the first green impulse block, indicating bullish momentum has started.
- Confirm the Triple Jurik Smooth Moving Average shows three green signal lines aligned upward.
- Enter a buy trade at the close of the confirmation candle after both conditions align.
- Place stop loss below the most recent swing low or below the impulse candle that triggered the setup.
- Close the trade when the Elder Impulse System prints a red block or when the Triple Jurik lines turn violet, signaling trend weakening.
Sell Entry Rules
- Confirm the Elder Impulse System shows a red impulse block, indicating bearish momentum has started.
- Confirm the Triple Jurik Smooth Moving Average shows three violet signal lines aligned downward.
- Enter a sell trade at the close of the confirmation candle after both conditions align.
- Place stop loss above the most recent swing high or above the impulse candle that triggered the setup.
- Close the trade when the Elder Impulse System prints a green block or when the Triple Jurik lines turn green, signaling bearish momentum is fading.
Case Study 1: EURUSD M15 London Session Buy Trade
On EURUSD M15 during the London session, the Elder Impulse System printed its first green impulse block after a period of consolidation, showing that bullish momentum was taking control.
At the same time, the Triple Jurik Smooth Moving Average aligned with three green signal lines, confirming a strong upward trend structure.
A buy trade was opened at the close of the confirmation candle.
The stop loss was placed below the impulse candle and the recent swing low to protect against sudden reversals.
The long trade was closed when a red impulse block appeared, showing that momentum was weakening and buyers were losing control.
Case Study 2: GBPJPY H1 New York Session Sell Trade
On GBPJPY H1 during the New York session, the Elder Impulse System shifted into a red impulse block after a failed bullish continuation, confirming bearish momentum.
The Triple Jurik Smooth Moving Average displayed three violet signal lines, confirming strong downside trend alignment.
A sell trade was executed at the close of the signal candle.
The stop loss was placed above the recent swing high and above the impulse candle that triggered the move.
The short trade was closed when a green impulse block appeared, indicating that selling pressure had weakened and the market was starting to transition back toward bullish conditions.
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Elder_Impulse_System.mq5 Indicator (MT5)
FAQ
How does the Elder Impulse System help traders?
It provides visual, color-coded signals to show bullish, bearish, and neutral market conditions, helping traders time entries and exits with clarity.
Can the indicator settings be customized?
Yes. Users can adjust EMA periods, MACD fast and slow periods, and other parameters to tailor signals to their trading style and preferred timeframe.
Is it suitable for beginners?
Yes. The color-coded blocks make it easy to understand market momentum and trade decisions without complex analysis.
Summary
The Elder Impulse System indicator offers a visual and intuitive way to follow market momentum using green, red, and gray blocks.
Traders can quickly identify bullish, bearish, and neutral conditions and align their trades accordingly.
By using the indicator’s color changes to close trades, users can manage entries and exits efficiently.
Its simplicity, combined with adjustable EMA and MACD settings, makes it suitable for both novice and experienced traders looking for clear, actionable market signals.
