The PDF Snake Trend Arrow Signals forex indicator is a real-time buy/sell trading oscillator with smoothing factor to reduce the number of false signals.
This indicator can be used as a standalone if you change the period length to for example 70.
By doing so, this generates more reliable trading signals.
Yellow arrows mean it is time to buy the currency pair, conversely, aqua arrows mean it is time to sell the currency pair.
This indicator works for any trading style, however, start using this indicator from the M5 charts and up.
For scalping and day trading: Trade only during the London and U.S trading session to increase your rate of successful trades.
For swing trading, any trading session is good to open trades but you should trade of the M30 charts and up.
The EUR/USD H1 chart below displays the PDF Snake Trend Arrow Signals forex indicator in action.
Basic Trading Signals
Signals from the PDF Snake Trend Arrow Signals forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a long trade position when a yellow arrow appears on the activity chart.
Sell Signal: Open a sell trade position when an aqua arrow appears on the activity chart.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Timeframe, Length, Method, Smoothing, Filter, RealTime, EmailON, CountBars) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Signal oscillator
Copy and paste the pfd-snake-trend.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)