The Arrow Head Trend Movement Indicator for Metatrader 5 uses a unique trading formula to determine the direction of the Forex trend.
The indicator gets loaded in the price chart as a sequence of non-repaint blue and red colored arrows.
Understanding these arrows is simple: A blue arrow generates a buy signal, while a red arrow indicates a sell signal.
This signal indicator should work equally well for any currency pair and time frame.
The indicator includes several inputs and parameters, such as sharpness, alerts, messages, push, email, colors, and more.
Becoming familiar with this technical indicator and thoroughly testing it on a demo account for an extended period is advisable.
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Arrowhead MT5.ex5 Indicator (MT5)
Chart Example
The picture below illustrates how the Arrow Head Trend Movement indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Using The Arrow Head Trend Movement Indicator?
Find a simple trading strategy below:
Buy Signal
- A buy signal is generated when the blue-colored arrow appears on the chart.
- Initiate a buy market order and place a stop loss below the most recent swing low level.
- Close the buy trade for a profit target that suits your preference, for example, +25 pips on the 5-minute chart.
- Alternatively: await a sell arrow to close the buy trade.
Sell Signal
- A sell signal is generated when the red-colored arrow appears on the chart.
- Initiate a sell market order and place a stop loss above the most recent swing high level.
- Close the sell trade for a profit target that suits your preference, for example, +10 pips on the 1-minute chart.
- Alternatively: await a buy arrow to close the buy trade.
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Arrowhead MT5.ex5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Arrowhead MT5.ex5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click on the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on the properties
- Now you can edit the inputs, colors, levels, scale, and visualization
- Finally, click the OK button to save the new configuration