DayTradingArrow provides arrows based on professional trading strategies and simplifies the analysis when you enter the market.
The indicator algorithm includes a unique - Trend Filter, Trend Reversal Strategy and an Adaptive Trend Strategy built as a highly adaptive smart algorithm in One Tool!
DayTradingArrow algorithm detects the market reversal early and generates arrows signals, calculates the trend line, filters out market noise and gives exit signals, stop loss and trailing stop level.
- Trade signals every day.
- Easy to make trading decision.
- Gives entry, stop loss and take profit levels.
- Easy to understand trend direction.
- More signals than any other system.
- Never repaints.
- Signals appears on the close of the bar.
Mode of trade and commercial tactics
Use H1 to determine the trend and use a smaller timeframe to identify and confirm potential trades. Enter the trade with the help of the arrows in the direction of the trend.
You have a buy signal when a new buy arrow appears and the price is above the stop line. You have a sell signal when a new sell arrow appears and the price is below the stop line.
- Close buy signal when the price closes below the stop line.
- Close sell signal when the price closes above the stop line.
- ARROWPERIOD - number of bars used to calculate the arrows.
- ARROWPERIOD - 6 when using default settings.
- ARROWPERIOD - 4 to 6 to use a stronger filter.
- TrendPERIOD - number of bars used to calculate the trend.
- TrendPERIOD - 1 when using default settings.
- TrendPERIOD - 1 to 6.
- LINEPERIOD - number of bars used to calculate the trend line.
- LINEPERIOD - 6 when using default settings.
- LINEPERIOD - 2 to 6.
- AlertOn - enable alerts.
- EmailAlert - enable email alerts.
- PushAlert - enable push notifications.
You can also get a Free Expert Advisor (DayTradingArrowEA.ex4).
Added new parameter:
TrendPERIOD - number of bars used to calculate the trend.
ARROWPERIOD - number of bars used to calculate the arrows.