The Super Arrow MT4 forex indicator draws buy and sell signals on the chart with the help of moving averages, RSI, Bollinger Bands, Bulls/Bear Power and magic filter.
This trading indicator is very easy to trade:
- Open buy trade when a green arrow appears on the chart
- Open sell trade when a red arrow appears on the chart
This indicator fits for scalping, day trading and swing trading currency pairs.
The Super Arrow Metatrader 4 indicator can be used as a standalone or can be combined with other technical indicators.
All default settings for the moving averages, RSI, Bollinger Bands, Bulls/Bear Power and magic filter can be fully modified directly from the indicator’s inputs tab.
The GBP/USD M15 chart below displays the Super Arrow forex indicator in action.
Basic Trading Signals
Signals from the Super Arrow forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade when the Super Arrow indicator draws a green buy arrow on the activity chart.
Sell Signal: Open sell trade when the Super Arrow indicator draws a red sell arrow 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 indicator
Customization options: Variable (Faster Moving Average, Slower Moving Average, RSI Period, Magic Filter Period, Bollinger Bands Period, Bulls Power Period, Bears Power Period, Alerts) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the super-arrow-indicator.mq4 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)