Semaphore arrow signal indicator based on the QQE oscillator. Signals are generated when there is a crossover of the main and the signal oscillator line.
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig.1. The QQESign indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/12865
The QQE indicator implemented as a sequence of candlesticks.Ozymandias_Lite
Simplified version of Ozymandias with price band lines removed.