This is an arrow trend indicator looking for possible price reversals. It can be used as an additional or as the main tool for your trading strategy. The indicator uses the timeframe it is launched at.
At a new bar, the indicator calculates how many candlesticks have exceeded the previous High, and how many candlesticks have been registered below the previous Low. Then it calculates the ratio between them. If there have been more higher candlesticks, the indicator draws a buy arrow. If there have been more candlesticks with a lower low, a sell arrow is drawn. The High and Low are determined throughout the specified period up to the calculation candlestick.
- Inp_Period – number of candles for analysis
- Inp_BarsHistory – history depth for displaying arrows
- Inp_BarsCount – number of candles exceeding high/low
- Inp_Shadow – consider High/Low or only Open/Close prices
- Inp_ArrowIndent – indent distance for arrows
- Inp_Alert – a sound alert, notifying of a new arrow
- Inp_SendMail - an e-mail notification about a new arrow
- Inp_SendNotification - a push notification about a new arrow
Added Inp_SendNotification parameter - sending push notifications when a new signal emerges.