BuySell H4 Signals
The BuySell H4 Signals indicator shows the potential market entry points using arrows. The arrows are not redrawn and not backpainted. The arrow appears immediately after a 4-hour candle is completed. The BuySell H4 Signals indicator works only on the H4 timeframe.
The indicator is calculated based on levels and candlestick patterns, and not intersections of moving averages, which allows it to generate high-quality signals at the earliest stage of the price movement.
You can use 5 (five) different types of arrows. Each type is calculated based on different types of data. Different types of arrows can be used simultaneously.
- Psychological Arrows: short-term and medium-term levels as well as candlestick patterns are used in calculation. The arrows show both long impulse movements and possible correctional movements withing the long-term trend.
- Strong Psychological Arrows: medium-term and long-term levels as well as strong reversal candlestick patterns are used in calculation. The arrows show the probable price extremes and trend reversals.
- Swing Arrows: medium-term and long-term levels as well as reversal candlestick patterns are used in calculation. The arrows show the probable rebound from levels towards the continuation of the current trend.
- Trend Arrows #1: medium-term levels and candlestick patterns are used in calculation. The arrows may show both the short-term and medium-term trend.
- Trend Arrows #2: medium-term levels and candlestick patterns are used in calculation. The arrows may show the short-term, medium-term and long-term trend.
It is recommended to trade the major currency pairs, such as: EURUSD, GPPUSD, USDJPY, USDCHF, etc.
Advantages of the BuySell H4 Signals indicator
- high quality of signals;
- signals almost always on the first-second candle from a level, which allows for a more efficient use of risk management;
- signals are not redrawn;
- can be backtested in the strategy tester;
- easy to use;
- alert settings are available.
- works only on the H4 timeframe.
- uses levels and candlestick patterns in its calculations, and not intersections of moving averages.
Setting up the indicator
Settings are simple: you can adjust the display of any of the 5 types of arrows
- Psychological Arrows: Show_Arrows1 = TRUE;
- Strong Psychological Arrows: Show_Arrows2 = TRUE;
- Swing Arrows: Show_Arrows3 = TRUE;
- Trend Arrows #1: Show_Arrows4 = FALSE;
- Trend Arrows #2: Show_Arrows5 = FALSE;
TRUE - show the arrows; FALSE - hide.
You can set notifications on signals as an alert, as a message to email or to mobile terminal.
The settings are intuitive:
- NotificationsON = TRUE;
- AlertON = TRUE;
- EmailON = FALSE;
- PushMessagesON = FALSE;
TRUE - enable the notification; FALSE - disable.
The indicator has been developed exclusively for the H4 timeframe and it should be used strictly on H4. However, the ShowOnlyOnH4TF parameter is available in the settings. By default, it is set to TRUE - show the indicator only on the H4 timeframe. If set to FALSE, the indicator will be drawn on all timeframes. This is done so that traders do not experience any restrictions when using this indicator.