The indicator signals about a good situation for closing open positions The arrow-signal does not disappear and does not redraw after a bar closes. The fractal market high/low structure is searched in a user-defined range. When it is found, a signal appears. Using this indicator is intuitive. Appearance of a turquoise arrow is a signal to partially or fully close sell orders. Appearance of a red arrow is a signal to partially or fully close buy orders.
The indicator can be used to close positions opened by the signals of the "Trend hunter" indicator.
When creating an EA use the «0» buffer of the indicator for buy orders, the «1» buffer for sell orders.
The indicator parameters
The indicator has one custom parameter.
- The range in bars, in which to search the market high/low structure (1-6000) - 1- frequent signals, 6000 -very rare signals
Recommended parameters for the four digit quotes of the EURUSD pair: M1 - 417, M5 - 396, M15 - 285, H1 - 174