Voltage Arrows is a multi currency arrow indicator. Its signals are based on the algorithm that uses currency pairs specified by the user as the main filter.
The indicator first calculates "voltage" points of the pair, on which the indicator is running, and then applies a multi-level filtering to them, based on the values of other currency pairs.
The Voltage Arrows tool will help you implement various multi currency strategies.
The indicator can be used on any timeframe. Signals are generated on candlestick close. Once formed, arrows do not flicker, do not disappear, do not get redrawn.
Matching Signal settings. 7 parameters, each of which includes a list of 28 currency pairs + gold and silver. Every used parameter in this section tells the indicator that the directions of signals of the current pair and selected filtering pairs must match.
Opposite Signal settings. 7 parameters, each of which includes a list of 28 currency pairs + gold and silver. Every used parameter in this section tells the indicator that the directions of signals of the current pair and selected filtering pairs must be opposite.
- Depth. The depth of calculations. The last N bars on the chart, for which the signals will be calculated. It is not recommended to use values above 1000! (can lead to terminal freezing). If you do not require visualization of past signals, then it is recommended to use a large enough value of this parameter.
- Period. Indicator period. Proper values are from 7 to 50000 depending on your strategy.
- Filter. When true, acts as an additional filter of signals. When false, there will be more signals, but the accuracy will be lower. If your settings give very few signals or do not produce any signal sat all, you can switch to false and evaluate the indicator values in this mode.
If at least one of parameters of Matching Signal or Opposite Signal is used in the indicator settings, the indicator values in the tester will differ from real signals, because mt4 does not support multi currency testing. If all filters are disabled, the results will match, but this trading mode is not recommended, because the accuracy of signals will be low. (If you use the indicator without any filter, set the value of Period to at least 200 for M5).