Arrow trend MT5
- Göstergeler
-
Xin You Lin
Golden Wings - Sürüm: 1.6
- Etkinleştirmeler: 5
This indicator draws a sequence of coloured markers along the price chart to show the direction of the current trend and the bar where that direction changes.
Two colours show the running trend, and two more mark the first bar of a new trend. Because the markers sit at a fixed offset from price, they also work as a dynamic level that price tends to respect while the trend is intact.
How it works
The indicator compares price with a trend reference calculated from the sensitivity input. While price stays on one side of that reference, the trend keeps its direction and markers keep the trend colour. When price closes on the opposite side, the direction flips and a reversal marker is drawn on that bar.
The offset between the markers and price is set by an input, so you decide how much room price gets before the trend counts as broken.
How to read it
- Blue marker: uptrend
- Red marker: downtrend
- Dodger blue marker: bullish reversal, first bar of a new uptrend
- Dark orange marker: bearish reversal, first bar of a new downtrend
Trading with the trend
The most reliable use is as a direction filter: take entries from your own method, but only in the direction of the current marker colour. Signals against the marker colour are ignored.
The markers can also be used as a dynamic level. Wait for a pullback to the marker line, then enter on the first candle that shows rejection at that level.
Buy setup
Markers are blue. Wait for price to fall back to the blue marker line. Enter a buy once a candle shows rejection at that level. Place the stop loss below the low of the rejection pattern. Exit when a dark orange reversal marker appears, or when price closes clearly below the marker line.
Sell setup
Markers are red. Wait for price to rise back to the red marker line. Enter a sell once a candle shows rejection at that level. Place the stop loss above the high of the rejection pattern. Exit when a dodger blue reversal marker appears, or when price closes clearly above the marker line.
Inputs
- TrendSensitivity - lookback used to build the trend reference; higher values give fewer and slower signals
- PointOffsetPercent - distance of the markers from price, in percent; higher values place markers further from price and reduce false flips
- EnableAlerts - notification when a reversal marker appears
(Replace these with the actual input names of your indicator, and rename them in the source so they show in English.)
Other features
- Optional alerts: on-screen, push or email
- Works on any symbol and any timeframe
- Can be read from an EA through iCustom; buffer indexes are listed in the source
- Low resource usage, suitable for running on many charts
Recommended symbols and timeframes
The indicator is not tied to any symbol or timeframe. It is commonly used on XAUUSD, EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD and USDCHF, on M5 to H1 charts. Higher timeframes give fewer and slower signals.
Notes
- The marker line follows price, so it is a dynamic level, not a fixed support or resistance.
- Repainting: past markers are not redrawn after the bar closes; signals are confirmed on bar close. (Confirm this matches your indicator and correct it if it does not.)
- One indicator instance manages one symbol and one timeframe.
- Test on a demo account before using it in live trading.
- Questions are welcome in the comments or by private message on MQL5.
