Trend Arrows draws support/resistance lines as colored dots on a price chart.
The symbol average price on a certain amount of data is used to calculate the indicator values.
In case of a downward trend, the indicator draws only a resistance line (red dots), while in case of an upward trend, it plots only a support line (blue dots). If a symbol price approaches support/resistance level and does not break it through at the current bar, this is used as a buy/sell signal.
An order is confirmed by the next dot, which either supports the current trend or signals the upcoming changes.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 10.05.2016.
MT5 Indicator – Download Instructions
trend arrows Metatrader 5 Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
trend arrows Metatrader 5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install trend arrows Metatrader 5 Indicator.mq5?
- Download trend arrows Metatrader 5 Indicator.mq5
- Copy trend arrows Metatrader 5 Indicator.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on trend arrows Metatrader 5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator trend arrows Metatrader 5 Indicator.mq5 is available on your Chart
How to remove trend arrows Metatrader 5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator:
trend arrows Metatrader 5 Indicator