Super Arrow Indicator for MT4

Introduction to the Super Arrow Indicator

The Super Arrow Indicator for MT4 uses a combination of Moving Average, RSI, Bollinger Bands, Bulls/Bear Power, and Magic Filter to generate buy/sell arrow signals. Free download.

That forex indicator provides the exact buying and selling positions of a currency pair. Due to the complex formula, it’s designed to get high-probability profitable trades.

It fits all kinds of trading styles including scalping, day trading or swing trading strategies.

One can successfully utilize it as a standalone forex trading tool, but it’s also perfect for conjunction with other technical analysis indicators.

Closer look at the Super Arrow Indicator

Most of the time, one indicator is not sufficient to become successful in trading. That’s why forex traders use multiple indicators that together give better setups and fewer fake signals.

However, analyzing multiple signals from various sources can be a bit confusing, especially when there are contradictory signals.

The Super Arrow for MT4 comes as a solution. As we already mentioned, it’s a set of multiple indicators working together to deliver the best results.

Let’s take a look at some charts showing the Super Arrow in action.

Super Arrow Indicator Example Chart 1

Super Arrow Indicator Example Chart 2

The basic idea of taking the trading decision is pretty straightforward and simple – just buy a currency pair when the green arrow appears below the candlestick and sell when the red arrow shows above the candlestick.

Set stop loss a few pips below the triggering candle for a buy trade. Conversely, set stop loss a few pips above the triggering candle for a sell trade.

Take profit can be taken when the opposite signal appears.

Using Super Arrow with other technical analysis indicators

Traders can implement this indicator with other trading strategies to even increase the probability and accuracy. It works like a charm when paired with other tools.

Super Arrow combined with Auto Trend Channel

Trend channels are one of the best trading approaches. These channels consist of trendlines guided in a specific direction.

To be precise, in the example below, we use the Auto Trend Lines Channels indicator.

Pay attention to price reveals near major trendlines (solid red and blue lines). Supper Arrows gives great signals as entry confirmations using that strategy.

Super Arrow Indicator Example Chart 3 With Trend Channels

Super Arrow combined with Fibonacci Retracements

Another good idea is to pair it with the Fibonacci Retracements indicator. It plots very important market levels at which price tends to react.

Signals provided by the Super Arrows can be great confirmation and entry points.

Super Arrow Indicator Example Chart 4 With Fibonacci Levels

Settings

These are available settings.

Super Arrow Indicator Settings

How to set up the Super Arrow indicator in MetaTrader (MT4)?

Installation Guide

Download the super-arrow-indicator.rar archive at the bottom of this post, unpack it, then copy and paste the super-arrow.ex4 or super-arrow.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Bottom Line

The Super Arrow indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success.

Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions.

Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.

Super Arrow Indicator in MT4 Trading Platform Navigator

Download Free Forex MT4 Super Arrow Indicator

To download the Super Arrow Indicator for Metatrader 4 (MT4) for free just click the button below:

Super Arrow Indicator Free Download


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