Triple Confirmation Arrows

Aevora Triple Confirmation

Aevora Triple Confirmation is a signal indicator for MetaTrader 5 designed to identify potential market entry points using several independent technical confirmations.

The indicator does not open or manage trades automatically. All signals are displayed directly on the chart as colored arrows. Signal calculations are performed using closed candles, so price movements on the current unfinished candle do not affect an already generated signal.

Trading Strategy

The indicator evaluates market conditions using a combination of technical analysis tools:

• Exponential Moving Averages;

• ADX and the +DI/−DI lines;

• MACD;

• RSI;

• Bollinger Bands;

• candle direction and body-size analysis.

The main market direction is determined by the position of the fast EMA relative to the slow EMA:

• when the fast EMA is above the slow EMA, only BUY signals are considered;

• when the fast EMA is below the slow EMA, only SELL signals are considered.

Signals against the detected trend direction are filtered out.

Confirmation System

Each closed candle receives a confirmation score of up to 6 points.

Points are awarded based on the following conditions:

1. ADX and Directional Movement

ADX is used to evaluate trend strength, while the +DI and −DI lines confirm its direction.

2. MACD

The position of the MACD main line relative to the signal line provides one confirmation point. A new MACD crossover provides a stronger confirmation and may add two points.

3. RSI

RSI identifies whether the price is located within a potential buying or selling zone.

4. Bollinger Bands

The indicator evaluates the position of the price relative to the upper and lower areas of the Bollinger Bands channel.

5. Candle Confirmation

The direction of the candle and the minimum size of its body relative to the full candle range are used to filter weak candles and periods of market uncertainty.

A standard signal is generated only when the total confirmation score reaches the selected threshold. Strong signals require a separate, higher confirmation threshold.

Signal Types

The indicator displays four types of arrows:

• green upward arrow — BUY;

• red downward arrow — SELL;

• blue upward arrow — STRONG BUY;

• orange downward arrow — STRONG SELL.

Strong signals indicate that a greater number of confirmation conditions have been satisfied.

Repeated Signal Filter

The Minimum bars between signals parameter defines the minimum number of candles required between two signals in the same direction.

This filter helps prevent several identical arrows from appearing consecutively when market conditions remain unchanged for an extended period.

Information Panel

The built-in information panel displays the current market state based on the latest closed candle:

• detected trend direction;

• current ADX value and trend-strength status;

• RSI position;

• MACD direction;

• price position relative to Bollinger Bands;

• current signal thresholds;

• minimum interval between signals.

The panel can be disabled in the indicator settings.

Notifications

The indicator can display a standard MetaTrader 5 alert whenever a new signal appears.

The alert includes:

• trading symbol;

• timeframe;

• signal direction;

• total confirmation score;

• current ADX value;

• current RSI value.

Alerts can be disabled using the Show an alert when a new signal appears parameter.

Main Parameters

Trend Filter

• Fast EMA period — period of the fast exponential moving average;

• Slow EMA period — period of the slow exponential moving average.

ADX Trend Strength

• ADX period — ADX calculation period;

• Minimum ADX for a signal — minimum trend-strength value required for confirmation.

MACD

• fast EMA period;

• slow EMA period;

• signal-line period.

RSI

• RSI period;

• buying-zone level;

• selling-zone level.

Bollinger Bands

• calculation period;

• deviation;

• width of the upper and lower confirmation zones.

Candle Filter

• minimum candle-body size relative to the candle’s full high-to-low range.

Signal Thresholds

• minimum confirmation score for a BUY signal;

• minimum confirmation score for a SELL signal;

• confirmation score required for a STRONG signal.

Signal Spacing

• minimum number of candles between signals in the same direction.

Display and Alerts

• arrow distance from the candle;

• enable or disable alerts;

• enable or disable the information panel.

Default Settings

The default configuration uses:

• EMA 20 and EMA 50;

• ADX period 14 with a minimum value of 20;

• MACD settings 12, 26 and 9;

• RSI period 14 with levels 35 and 65;

• Bollinger Bands period 20 with a deviation of 2;

• standard signal threshold — 4 out of 6 points;

• strong signal threshold — 5 out of 6 points;

• minimum interval between signals — 5 candles.

Lower confirmation thresholds increase the number of signals but may also reduce their overall selectivity. Higher thresholds provide stricter filtering but produce fewer signals.

Risk Management

The indicator does not calculate position size and does not automatically place Stop Loss or Take Profit levels. Traders remain fully responsible for their own money-management rules.

For conservative use, it is recommended to:

• define the maximum acceptable risk before entering a trade;

• avoid opening several strongly correlated positions at the same time;

• consider the current spread and trading session;

• check nearby support and resistance levels before acting on a signal;

• test the indicator on the selected symbol and timeframe before using it on a live account;

• avoid trading during abnormal spread expansion and major economic news releases.

Recommended Use

The indicator can be used on Forex currency pairs, metals, indices and other instruments available in MetaTrader 5.

It supports different chart periods. For intraday trading, M5 and M15 can be used as starting timeframes, after which the settings should be adjusted to the selected symbol, trading conditions and broker specifications.

Aevora Triple Confirmation is an analytical tool. It does not guarantee profits and cannot eliminate losing signals. Always test the indicator and apply appropriate risk management before using it on a live trading account.