Super Arrow Indicator MT4
MT4 Arrows TradingFree DownloadIntroduction 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.
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 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.
Settings
These are available settings.
