Fear and Greed INDEX: MT4 sentiment indicator for contrarian entries and risk control

In this detailed Fear and Greed INDEX review for 2026 we present a performance analysis that evaluates signal quality, robustness, and live trading adaptability. The first paragraph of this review highlights that the Fear and Greed INDEX combines momentum, volatility, and participation metrics into a single oscillator, and the 2026 performance analysis focuses on live-simulated results to quantify win rate and drawdown. What makes Fear and Greed INDEX unique is its multi-factor fusion: RSI provides momentum bias, ATR captures regime volatility, and volume participation weights signal strength, producing a 0-100 sentiment score tailored for contrarian execution. The algorithm works by normalizing each input, applying an adaptive smoothing filter, and scoring the combined output against configurable thresholds. Signal generation uses crossover and extreme band logic with optional trend filters such as moving average alignment or higher timeframe confirmation. The indicator excels in trending markets with periodic mean reversion episodes, and it reduces whipsaw through ATR-based volatility gating. Risk management is signal-aware: recommended rules include confirmed entry only, fixed stop based on recent ATR multiples, and position size scaled to account volatility. Expected performance characteristics for traders using the default settings include moderate trade frequency, higher win rate on mean-reversion setups, and drawdowns that remain manageable when position sizing is disciplined. Mohammad Abbas Mohammad Dashti delivers this MT4-compatible indicator with clear parameter descriptions and versioned updates to improve reliability and compatibility across brokers.