Ultra Charts brings advanced custom MT5 charts for clearer trading signals and efficiency

This Ultra Charts review provides a 2026 performance analysis based on a combination of historical backtests, demo runs, and selected live account snapshots. The report focuses on how alternative chart constructions affect trade identification and the measurable impact on win rate, average trade length, and drawdown. Ultra Charts is unique because it brings six professional-grade custom chart types directly into MT5, letting traders move beyond time-based candles to volume-based, range, and tick perspectives that highlight different market dynamics. The algorithm operates by reconstructing incoming tick data into the chosen alternative chart type, applying a set of configurable pattern and momentum filters, and generating trade signals when multiple criteria align. Ultra Charts then applies fixed-risk sizing rules and an optional trailing stop to manage exits. The system is primarily data-driven rather than discretionary, using threshold-based triggers that can be tuned by volatility or account size. In practice, Ultra Charts handles trending environments and structured range-breaks well, while very thin, low-liquidity sessions can produce more false signals. Risk management is conservative by default, with the EA designed around a per-trade risk percentage and a recommended maximum drawdown cap. Expected performance characteristics from combined tests show steady monthly returns with moderate volatility: typical live runs display mid-60s to low-70s percent win rates and max drawdowns in the single-digit to low double-digit percentages depending on leverage and position sizing. The developer, Tinashe Ndarimani, provides a demo version and manual for detailed parameter tuning on MT5.