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This arrow indicator is based on the correlation of the currency pairs like EURJPY and AUDJPY.

The indicator is attached to the EURJPY chart with the timeframe of H4 or D1 and displays potential reversals as buy (white) and sell (black) arrows.

The indicator also generates sound alerts (optional) and does not redraw!

If the indicator is attached to the AUDJPY chart with the timeframe of H4 or D1, then it is a great opportunity to supplement (secure) the positions opened on EURJPY with the positions on AUDJPY.

The indicator makes an average of 10 trades on both currency pairs.

This indicator was used as the basis for an Expert Advisor. Testing results are provided below (see screenshot).

Input Parameters

  • Use Alert - use an alert
  • Use Filter MA - use trend filter (moving average)
  • Show Info - display information
  • Bar Process - bar calculation to display the indicator
  • Color Symbol - color of the displayed symbol
  • Color Price - color of the displayed price
  • Color Spread - color of the spread
  • Color Time Candle - color of the time until the bar closure
  • Font Size
  • Font Type - font type
  • What Corner - the corner to display the information on currency pair
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