Super Arrow Indicator MT5

Super Arrow Indicator MetaTrader5

The Super Arrow indicator, designed for MetaTrader 5, integrates signals from several technical indicators to generate the most probable reversal signals and identify pivot highs and lows. It combines RSI, Bollinger Bands, Moving Average, and Magic Filter indicators to highlight lows with green arrows and highs with red arrows.

Indicator Table

Overview

When multiple indicators provide conflicting signals simultaneously, it can confuse traders and lead to poor decisions, increasing risk. To reduce this risk, combining several indicators can help eliminate false signals and result in more reliable trades.

The Super Arrow indicator identifies potential lows (valleys) with a green arrow when a bullish trend is expected and multiple buy signals are detected. Likewise, it marks potential highs (peaks) with a red arrow when the trend is expected to be bearish and sell signals are confirmed. This method allows traders to make decisions based on the most likely trend reversal points.

Buy Signals (Uptrends)

The image below illustrates a 4-hour chart of the S&P 500 index (US500). The indicator has pinpointed two major valleys at points 1 and 2, which serve as critical starting points for upward trends, and marked them with green arrows (Buy). When these buy signals appear, traders can prepare to go long by considering support levels and confirming tools such as candlestick patterns, classical chart patterns, trend lines, and channels.

Sell Signals (Downtrends)

In the image below, a 1-hour chart of the NZD/USD currency pair is shown. The indicator has identified key peaks at points 1 and 2—locations often signaling a change in trend. These highs are marked with red arrows (Sell), indicating potential reversals. To confirm these sell signals, traders may use trend lines, static resistance levels, and reversal patterns.

Settings of the Super Arrow Indicator

• FasterMovingAverage: 5
• SlowerMovingAverage: 12
• RSIPeriod: 12
• MagicFilterPeriod: 1
• BollingerbandsPeriod: 10
• BollingerbandsShift: 0
• BollingerbandsDeviation: 0.5
• BullsPowerPeriod: 50
• BearsPowerPeriod: 50
• Alerts: True
• Utstup: 10
• Shift: 0

Conclusion

Pinpointing market lows and highs—valleys and peaks—is a fundamental objective for traders. By aggregating signals from multiple indicators, the Super Arrow indicator helps identify areas with the greatest potential for major trend reversals. It can be utilized across all financial markets and various timeframes.

For stronger and more confident trading strategies, it is recommended to use this indicator alongside other tools such as price channels, regression channels, Fibonacci levels, and divergence analysis.