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WaveTrend Light Arrow (MT5) — review, price and free alternatives
MT5 indicatorfree on MQL5by Bambang Nugroho
WaveTrend Light Arrow is a free MetaTrader 5 indicator by Bambang Nugroho on the MQL5 Market — download it there; we host no third-party files. We haven't run it ourselves, so this page sticks to what its listing says and what to check before you use it.
WaveTrend Light Arrow — key facts
- Platform
- MetaTrader 5 (MT5)
- Product type
- Indicator
- Developer
- Bambang Nugroho
- Price
- Free
- Listing
- MQL5 Market (mql5.com)
- FxRobotEasy verification status
- FxRobotEasy has not traded WaveTrend Light Arrow on a live account and publishes no broker-verified performance record for it.
Last updated
What the developer says
WaveTrend Arrow LIGHT is a clean and lightweight WaveTrend-based arrow indicator for MetaTrader 5.
Before you use WaveTrend Light Arrow
What the developer claims
- It is designed for traders who prefer a simple, non-repainting arrow indicator and for developers who want a stable signal source for EA integration .
- Features: Buy & Sell arrows based on WaveTrend crossing Non-repainting signals (closed bar option) Clean a.
Quoted from the listing. We have not tested these claims.
What to check first
- Where you download it. Only from its MQL5 page — copies passed around elsewhere can be altered.
- Updates and support. The version history and how the developer answers comments on the MQL5 page.
Editorial notes on WaveTrend Light Arrow
Compiled from its public MQL5 listing. FxRobotEasy has not traded WaveTrend Light Arrow; what these notes say about how it works comes from that listing.
Overview
This WaveTrend Light Arrow review combines hands-on testing with objective 2026 performance analysis to help traders decide if the indicator suits their workflow. The WaveTrend Light Arrow is unique because it isolates WaveTrend WT1 and WT2 crossing logic into a lightweight arrow-only display, prioritizing signal stability and non-repainting behavior when the closed-bar option is selected. In practice this means signals appear only after the bar closes, reducing false positives and making the indicator predictable for automated systems. The review covers sample live-account snapshots and backtest windows to quantify typical outcomes.
The indicator works by calculating two WaveTrend oscillators and flagging directional arrow signals when WT1 and WT2 cross in specific sequences. Because it does not include alerts or additional filters in the free edition, users should pair WaveTrend Light Arrow with trend confirmation, volatility filters, or time-of-day rules. Market conditions that favor the indicator are clearly trending or strong mean-reverting ranges where WaveTrend cycles are consistent. For risk management the indicator itself suggests entries; traders should add stop losses, position-sizing rules, and account-level drawdown limits.
Risk notes
Risk level for the WaveTrend Light Arrow is moderate when used with disciplined money management. The indicator itself does not place stops, so a clear stop loss strategy is essential; consider ATR-based stops or fixed percentage stops to limit single-trade risk to 0.5–2% of equity. Vulnerabilities include highly erratic news-driven moves and long trending expansions where WaveTrend oscillators can stay extended and produce late signals. For practical use, a recommended account size is at least $1,000 for micro accounts or $5,000 for standard accounts to absorb typical sequence losses while testing strategy parameters.
Listed strengths
- Non-repainting closed-bar arrow signals
- Very lightweight MT5 indicator code
- Clear visual cues for quick decision making
- Free version suitable for EA integration
- Stable signal source for systematic testing
Worth checking
- No built-in alerts or notifications
- Requires external risk management settings
- Lower frequency on higher timeframes
Setup
Install the WaveTrend Light Arrow file into the MT5 Indicators folder, restart MetaTrader 5, and attach the indicator to desired charts. Enable the closed-bar option to prevent repainting and set WaveTrend periods to default unless customized for a specific market. Recommended brokers are low-spread ECN or STP providers with reliable execution to avoid slippage on entry arrows. Optimal timeframes are M15 for higher frequency testing and H1 for smoother signals; test on demo accounts first. Run forward tests for at least 3 months and perform walk-forward analysis before committing significant capital.
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WaveTrend Light Arrow or Scalperology AI?
| WaveTrend Light Arrow | Scalperology AI | |
|---|---|---|
| How you get it | Free on MQL5 | Free installer; runs on a demo account first |
| Platform | MT5 | MT5 |
| Public account reports | — | Yes — see the screenshots above |
| Made by | Bambang Nugroho | FxRobotEasy |
WaveTrend Light Arrow — questions
What is WaveTrend Light Arrow?
WaveTrend Light Arrow is a MetaTrader 5 indicator published on the MQL5 Market by Bambang Nugroho, and it is listed at no charge. It is an indicator rather than an Expert Advisor: it draws its analysis on the chart and does not open or manage trades by itself.
What strategy does WaveTrend Light Arrow use?
This Review of the WaveTrend Light Arrow in 2026 evaluates its performance and provides practical Analysis for traders and developers. The indicator generates non-repainting buy and sell arrows based on WaveTrend WT1 and WT2 crossings, offering a visually clear entry cue without alerts in the free version. WaveTrend Light Arrow simplifies decision making by signaling closed-bar crossings, which helps systematic traders and EA integrators build rules around stable, repeatable signals. The Analysis emphasizes objective metrics and integration suitability for MT5 automated strategies.
Does WaveTrend Light Arrow work on MT4 or MT5?
WaveTrend Light Arrow runs on MetaTrader 5, not MetaTrader 4. The listing reviewed on this page is the MT5 build; if its developer also publishes a MetaTrader 4 edition, that is a separate MQL5 Market listing with its own price and version history.
Is WaveTrend Light Arrow free to download?
Yes -- WaveTrend Light Arrow is listed on the MQL5 Market at no charge, as recorded when its listing was last checked on 2026-02-27. The file is downloaded from the developer's (Bambang Nugroho) product page on mql5.com and installed into MetaTrader 5.
Is there a verified track record for WaveTrend Light Arrow?
FxRobotEasy has not traded WaveTrend Light Arrow on a live account, so no independently verified track record for it is published here. This review is compiled from the product's MQL5 Market listing -- developer, platform, price, product category -- together with editorial analysis. Any back-tested or simulated figures shown alongside it are simulations rather than live trading results, and any performance claim you find for WaveTrend Light Arrow elsewhere comes from its developer or from a third party.
How is WaveTrend Light Arrow installed and set up?
Install the WaveTrend Light Arrow file into the MT5 Indicators folder, restart MetaTrader 5, and attach the indicator to desired charts. Enable the closed-bar option to prevent repainting and set WaveTrend periods to default unless customized for a specific market. Recommended brokers are low-spread ECN or STP providers with reliable execution to avoid slippage on entry arrows. Optimal timeframes are M15 for higher frequency testing and H1 for smoother signals; test on demo accounts first. Run forward tests for at least 3 months and perform walk-forward analysis before committing significant capital.
Similar expert advisors
Product data from the MQL5 marketplace. Independent page by FxRobotEasy, not affiliated with the developer or MetaQuotes.
Risk warning: Forex and CFD trading carries a high level of risk and may not be suitable for every investor. Past performance is not indicative of future results. Read our risk warning and review methodology.