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HomeForex MT4 IndicatorsUltimate Arrows Buy Sell Signals Indicator

Ultimate Arrows Buy Sell Signals Indicator

Introduction to the Ultimate Arrows Buy Sell Signals Indicator

The 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.

The Ultimate Arrows Buy Sell Signals Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

Trading Rules Explanation

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

As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.

How to set up the Ultimate Arrows Buy Sell Signals indicator in MT4?

Installation Guide

Download the Ultimate Arrows Buy Sell Signals.rar archive at the bottom of this post, unpack it, then copy and paste the Ultimate Arrows Buy Sell Signals.ex4 or Ultimate Arrows Buy Sell Signals.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 Ultimate Arrows Buy Sell Signals indicator is well worth adding to your trading collection but 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.

Ultimate Arrows Buy Sell Signals Indicator Free Download

To download the Ultimate Arrows Buy Sell Signals Indicator for Metatrader 4 (MT4) for free just click the button below:

Ultimate Arrows Buy Sell Signals Indicator Free Download

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