Cycles Plotter (MT5) — review, price and free alternatives

Cycles Plotter intentionally calculates sinusoidal cycles solely from user inputs rather than deriving cycles automatically from price data, which gives traders deterministic control over the plotted waveform.

Edoardo Centorame designed Cycles Plotter to be a transparent study tool rather than a black-box EA. The algorithm computes two independent sine waves using user-selected period, phase, and amplitude parameters, then overlays moving averages to show trend context. Because the indicator does not generate buy or sell alerts, users must combine visual cycle crossings and moving average direction with their own entry rules. Cycles Plotter works best in markets with detectable periodicity such as FX major pairs and certain commodity cycles, and it can be adapted for intraday or daily timeframes.

Risk management with Cycles Plotter is procedural rather than built-in: traders apply standard stop loss, position sizing, and correlation limits informed by the plotted cycles. Expected performance characteristics depend heavily on parameter choice; with conservative settings traders can expect clearer timing signals but lower trade frequency. For those willing to tune start dates and amplitudes, Cycles Plotter can reveal repeating patterns that improve trade timing when used alongside confirmed trend filters.

Cycles Plotter represents a moderate risk tool because it is an indicator rather than an automated money manager. Risk level depends on how aggressively a trader converts plotted cycle interactions into live positions. Recommended stop loss strategies include using a multiple of recent cycle amplitude or ATR to accommodate expected oscillation. Position sizing should follow percentage-based risk per trade, commonly 0.5% to 2% of account equity, adjusted for correlation. The indicator is vulnerable in strongly trending, non-reverting market conditions where sinusoidal assumptions break down, and during major news events that distort periodicity.

Install Cycles Plotter by copying the indicator file into the MT5 MQL5 Indicators folder and refreshing the terminal or restarting MT5. Attach the indicator to the desired chart and set the start date, primary and secondary cycle periods, amplitudes, and moving average lengths. Choose a reliable STP or ECN broker that supports low spreads for FX testing. Recommended chart timeframes are 4-hour and daily for clearer cycle structure, with 1-hour or 15-minute for intraday experiments. Begin with historical backtests and forward testing on a demo account for at least 3 months before trading live, documenting parameter choices and outcomes.