Matrix Arrow Indicator MT4/5 Settings/Inputs Guide

How the Matrix Arrow Indicator Generates Signals

The Matrix Arrow Indicator MT4/5 combines multiple technical indicators into a single Matrix and uses their combined conditions to generate Entry arrow signals and Exit dot signals.

The available Matrix components are:

• Average Directional Movement Index (ADX)

• Commodity Channel Index (CCI)

• Heiken Ashi

• Moving Average (MA)

• MACD

• Relative Vigor Index (RVI)

• Relative Strength Index (RSI)

• Parabolic SAR (PSAR)

• Stochastic Oscillator

• Williams' Percent Range (W%R)

• EMA Crossing(s)

Each enabled component contributes its own bullish or bearish condition to the Matrix.

For each component indicator, the Use [Indicator] for setting determines whether that indicator participates in the calculation of Entry signals, Exit signals, both, or neither.

Entry and Exit Signal Assignment

Each Matrix component can be configured as:

Nothing: The indicator is not used for either Entry or Exit signal calculation.

Entry Only: The indicator participates only in the calculation of Entry signals.

Exit Only: The indicator participates only in the calculation of Exit signals.

Entry & Exit: The indicator participates in the calculation of both Entry and Exit signals.

This allows you to create different combinations of technical indicators for generating Entry and Exit signals.

For example, you can configure some indicators as Entry Only so that they participate in generating the Buy/Sell arrow signals, while other indicators can be configured as Exit Only so that they participate only in generating the Exit dot signals.

Indicators configured as Entry & Exit participate in both calculations.

The Matrix displays the individual bullish and bearish conditions of the enabled indicators, while the final Entry arrows and Exit dots represent the combined Matrix Arrow signal according to your selected settings.

Matrix Arrow Indicator MT4/5 Settings/Inputs Guide

Matrix Component Settings

Use ADX for: Selects whether ADX participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

ADX Period: Defines the calculation period of the ADX indicator.

ADX Applied Price: Defines the price data used for the ADX calculation.

Commodity Channel Index (CCI)

Use CCI for: Selects whether CCI participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

CCI Period: Defines the calculation period of the Commodity Channel Index.

CCI Applied Price: Defines the price data used for the CCI calculation.

CCI Threshold: Defines the CCI level used to determine the bullish or bearish condition.

When CCI is above the configured threshold, it produces a bullish/Buy condition, represented by a blue square in the Matrix.

When CCI is below the configured threshold, it produces a bearish/Sell condition, represented by a red square.

Heiken Ashi

Use Heiken Ashi for: Selects whether Heiken Ashi participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

When enabled, the Heiken Ashi direction contributes its bullish or bearish condition to the corresponding Matrix Arrow signal calculation.

The Matrix Arrow Indicator uses Classic Heiken Ashi candles for this calculation.

Moving Average (MA)

Use MA for: Selects whether the Moving Average participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

When enabled, the Moving Average condition contributes to the corresponding Matrix Arrow signal calculation.

MA Period: Defines the number of candles/bars used to calculate the Moving Average.

MA Shift: Defines the number of bars by which the Moving Average is shifted.

MA Method: Defines the Moving Average calculation method.

MA Applied Price: Defines the price data used for calculating the Moving Average.

MACD

Use MACD for: Selects whether MACD participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

When enabled, the MACD condition contributes to the corresponding Matrix Arrow signal calculation.

MACD Fast EMA: Defines the Fast Exponential Moving Average period used in the MACD calculation.

MACD Slow EMA: Defines the Slow Exponential Moving Average period used in the MACD calculation.

MACD SMA: Defines the period of the MACD signal line.

MACD Applied Price: Defines the price data used for calculating MACD.

Relative Vigor Index (RVI)

Use RVI for: Selects whether RVI participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

When enabled, the RVI condition contributes to the corresponding Matrix Arrow signal calculation.

RVI Period: Defines the calculation period of the Relative Vigor Index.

Relative Strength Index (RSI)

Use RSI for: Selects whether RSI participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

RSI Strategy: Selects which RSI strategy is used in the Matrix Arrow calculation:

• RSI Crossing

• RSI Smooth

The settings relevant to each strategy are explained below.

RSI Period: Defines the RSI calculation period.

RSI Applied Price: Defines the price data used for calculating RSI.

RSI Crossing

RSI Crossing Threshold: Defines the level used by the RSI Crossing strategy to determine bullish or bearish direction.

When RSI is above the threshold, it produces a bullish/Buy condition, represented by a blue square in the Matrix.

When RSI is below the threshold, it produces a bearish/Sell condition, represented by a red square.

RSI Smooth

RSI Smooth Period: Defines the main period of the RSI Smooth indicator.

RSI Smooth Fast Period: Defines the fast period used by the RSI Smooth calculation.

RSI Smooth Slow Period: Defines the slow period used by the RSI Smooth calculation.

RSI Smooth Oversold Level: Defines the oversold level of the RSI Smooth indicator. Below this level, the RSI Smooth strategy produces its configured bearish/Sell condition.

RSI Smooth Overbought Level: Defines the overbought level of the RSI Smooth indicator. Above this level, the RSI Smooth strategy produces its configured bullish/Buy condition.

Use PSAR for: Selects whether Parabolic SAR participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

When enabled, its bullish or bearish condition contributes to the corresponding Matrix Arrow signal calculation.

PSAR Step: Defines the acceleration step used by the Parabolic SAR indicator.

PSAR Maximum: Defines the maximum acceleration value used by the Parabolic SAR indicator.

Stochastic Oscillator

Use Stochastic for: Selects whether the Stochastic Oscillator participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

When enabled, its bullish or bearish condition contributes to the corresponding Matrix Arrow signal calculation.

Stochastic %K Period: Defines the %K calculation period.

Stochastic %D Period: Defines the %D calculation period.

Stochastic Slowing: Defines the slowing value used by the Stochastic Oscillator.

Stochastic Price Field: Defines the price field used for the Stochastic calculation.

Stochastic Method: Defines the Moving Average method used in the Stochastic calculation.

Williams' Percent Range (W%R)

Use W%R for: Selects whether Williams' Percent Range participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

W%R Period: Defines the calculation period of Williams' Percent Range.

W%R Threshold: Defines the level used to determine bullish or bearish direction.

When W%R is above the threshold, it produces a bullish/Buy condition, represented by a blue square in the Matrix.

When W%R is below the threshold, it produces a bearish/Sell condition, represented by a red square.

EMA Crossing(s)

Use EMA Crossing for: Selects whether the EMA Crossing component participates in Nothing, Entry Only, Exit Only, or Entry & Exit signal calculations.

The EMA Crossing component can use up to four Exponential Moving Averages. Each EMA can be enabled or disabled individually.

Use EMA 1: Enables or disables EMA 1 in the EMA Crossing calculation.

EMA 1 Period: Defines the period of EMA 1. The default value is 5.

Use EMA 2: Enables or disables EMA 2 in the EMA Crossing calculation.

EMA 2 Period: Defines the period of EMA 2. The default value is 10.

Use EMA 3: Enables or disables EMA 3 in the EMA Crossing calculation.

EMA 3 Period: Defines the period of EMA 3. The default value is 20.

Use EMA 4: Enables or disables EMA 4 in the EMA Crossing calculation.

EMA 4 Period: Defines the period of EMA 4. The default value is 50.

The enabled EMAs and their relative crossing/alignment conditions contribute to the bullish or bearish EMA Crossing condition used by the Matrix.

Matrix and Signal Display

Indicator Labels: Enables or disables the names/labels of the individual indicators displayed on the left side of the Matrix.

When enabled, each Matrix row can be easily identified by its corresponding indicator label.

Enable Arrow: Enables or disables the Entry arrow signals and Exit dot signals displayed on the main chart.

When enabled, the Matrix Arrow Indicator displays its generated Entry arrows and Exit dots directly on the price chart.

Alert Settings

The Matrix Arrow Indicator can notify you whenever a new Matrix Arrow signal is generated.

Terminal Alerts: Enables or disables pop-up alerts inside the MT4/MT5 terminal for new Matrix Arrow signals.

Push Notification Alerts: Enables or disables push notifications to your mobile device for new Matrix Arrow signals.

To receive push notifications, your MetaQuotes ID and notification settings must first be configured correctly in the MT4/MT5 terminal.

Email Alerts: Enables or disables email notifications for new Matrix Arrow signals.

To receive email alerts, your email settings must first be configured correctly in the MT4/MT5 terminal.

Indicator Matrix Label Settings

The following settings allow you to customize the names displayed on the left side of each Matrix row.

ADX Label: Defines the label displayed for the Average Directional Movement Index.

CCI Label: Defines the label displayed for the Commodity Channel Index.

Heiken Ashi Label: Defines the label displayed for Heiken Ashi.

MA Label: Defines the label displayed for the Moving Average.

MACD Label: Defines the label displayed for MACD.

RVI Label: Defines the label displayed for the Relative Vigor Index.

RSI Label: Defines the label displayed for the Relative Strength Index.

PSAR Label: Defines the label displayed for Parabolic SAR.

Stochastic Label: Defines the label displayed for the Stochastic Oscillator.

W%R Label: Defines the label displayed for Williams' Percent Range.

EMA Crossing Label: Defines the label displayed for the EMA Crossing component.

These settings change only the labels displayed in the Matrix and do not change the calculations or trading signals.

Display Settings

Arrow Size: Defines the size of the Buy/Sell Entry arrows and Exit dot signals displayed on the chart.

Label Font Size: Defines the font size of the indicator labels displayed in the Matrix Arrow Indicator subwindow.

Arrow Buy Colour: Defines the colour used for bullish/uptrend Matrix squares and Buy arrow signals.

Arrow Sell Colour: Defines the colour used for bearish/downtrend Matrix squares and Sell arrow signals.

Arrow Neutral Colour: Defines the colour used for neutral Matrix conditions when neither a bullish nor bearish condition is present.

Label Text Colour: Defines the colour of the indicator labels displayed on the left side of the Matrix Arrow Indicator subwindow.

Performance and Troubleshooting

The Matrix Arrow Indicator calculates the conditions of all its enabled component indicators over the historical bars available on the chart.

If Max Bars in Chart is set to a very large number, such as hundreds of thousands or millions of bars, the Indicator may require considerably more processing time when it is first attached or when its settings are changed.

For normal use, you can reduce:

MT4/MT5 → Tools → Options → Charts → Max Bars in Chart

to a reasonable number of bars if you experience slow loading or updating.

A value such as 1000 bars can significantly reduce the amount of historical data the Matrix Arrow Indicator needs to process.

Choose a value appropriate for the amount of chart history you need.