This indicator show possible price reversals using volumes, breakouts and fractal analysis based on wave timing. A great arsenal to add to any chart. It points price reversals with high degree of accuracy and it is great for scalping 5min time frame, though I would recommend trading on the 1hr time frame. Buy and sell arrows are shown on the chart as green and red arrows respectively. They do not repaint but confirmation entries are formed often after the second candles or bar close.
Based on our proprietary price and volume algorithms, it is a powerful tool to have to increase your rate of success. What makes it stand out from most other buy sell arrow indicators is that it is not based on moving averages but price action. Its main focus is the relation of the securities current price to its past prices as opposed to values derived from that price history.
- The indicator can be used to trade forex, contract for difference(CFD) and binary options
- Suitable in 5mins and higher but also works well with 1min on low spread currencies pairs
- You can trade on any instrument
- It is an efficient tool for both novice and experience traders
- Green arrows are buy signals
- Red arrows are sell signals
- Works best with signals above 200MA(Moving Averages)
Parameters Default Set
- Calculates On Bar Close False
- Alert On True
- Alert On Current True
- Alert Massage True
- Alert Sound True
- Alert Notify True
- Alert Email True
Calculate On Bar Close: The indicator runs on historical data thus OnBarUpdate is activated at the close of each historical bar even if this property is set to "False". This is because with a historical data set, only Open, High, Low and Close of the bars are known and not each tick that made up the bar. Property value default is set to False.
Alert On: Gives only one alert per bar as the buy/sell signal appears
Alert On Current: Set as "True" will give alerts on current bar not the close bar from historical data
Alert Message: Set as "True" pops a message on alert to buy long or sell short as the arrow appears
Alert Sound: Give a sound alert as the message box pops up and signal appears
Alert Notify: Announces on message alert earlier signals
Alert Email: Email alerts can be configured from this setting to send messages to email address from mt4 platform.