The
Trend Indicator Trend Arrows creates support and resistance lines in
the form of arrows on the price chart.
Features
Trend Arrows
Type
trend following indicator
Style:
day trading and swing as filter
Currency
pairs any.
Time
Frame:any
Terminal
Metatrader 4
To
calculate the indicator values, the average price of a currency pair
for a given number of bars (iPeriod) is used: in the event of a
downward trend, the indicator constructs only the resistance line
(red arrows);in a bullish trend, a support line (green arrows).
If
the price of a currency pair approaches the support or resistance
level and does not break it at the current bar, then this is a signal
to buy or sell.
The
confirmation for opening an order will be the appearance of the next
arrow, which will confirm the current trend or indicate that the
market situation has changed.
The
Trend Arrows trend trading indicator, with a certain parameter
setting, can be used not only for classic trading, but also for
trading binary options with a trend filter.
In
the pictures Trend Arrows indicator MT4
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