
Ultimate Arrows Buy Sell Signals Indicator
Platform: MT4 Type: Scalping Last update: October 5, 2024The Ultimate Arrows Buy Sell Signals is a forex indicator that does its best at defining market tops and bottoms. That system provides also Border Ligns which helps at recognizing overbought and oversold market conditions. Although this forex gauge uses custom calculations for its formula, we can clearly see it is based on the Zig Zag indicator. Both beginners and advanced forex traders can try that Ultimate Arrows indicator.
How to apply the ultimate arrows in trading?
The Ultimate Arrows Buy Sell Signals Indicator uses the Zig Zag indicator to generate arrows and, unfortunately, the arrows get re-painted every time a new swing high/low is formed. This is where Border Ling comes in handy, providing overbought/oversold moments whence price will most probably reverse, making these signals much more reliable.
Buy Signal
Follow these steps for a long trade:
- The price should decisively go outside lower band of the Border Ligns and then reverse back inside the channel
- There should be an upward arrow behind the current price
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the last low point of the market
- Take profit or exit trade whenever the price reaches opposite band or use your own preffered method of trade exit
Sell Signal
Follow these steps for a short trade:
- The price should decisively go outside higher band of the Border Ligns and then reverse back inside the channel
- There should be an downward arrow behind the current price
- Sell trade is triggered after the above conditions are met
- Set stop loss a few pips above the last high point of the market
- Take profit or exit trade whenever the price reaches opposite band or use your own preffered method of trade exit