Slow Moving Average: The period of the slow Moving Average. The Super Arrow mt4 indicator has the following parameters in the MT4 settings.įast Moving Average: The period of the fast Moving Average. The indicator also works in a ranging and trending market for entry, stop-loss, take-profit placement, and closing trades. However, experienced traders can use this indicator with other indicators and market analysis.įurthermore, this indicator can be used in all time frames to spot an entry and exit the market. New forex traders will mainly find this indicator valuable as no analysis is required. This indicator is suitable for both professional and new forex traders. Consequently, the indicator shows a green arrow when the market is bullish and has a strong buy signal. The indicator displays a red color arrow when the market is bearish and there’s a strong sell signal. This indicator appears on the chart with red (sell) and green (buy) arrows. The EUR/USD H1 chart above shows the Super Arrow indicator. The diagram below shows how this indicator is displayed on the MT4 chart.

The Super Arrow indicator utilizes these indicators to filter out false signals and generate good ones. These indicators are the Moving Averages, Relative Strength Index, Bollinger Bands, and Magic Filter. The Super Arrow indicator for MT4 uses multiple indicators to generate high-winning signal trades. Thus, the Super Arrow indicator for MT4 avoids the problem of indicator contradiction. The Super Arrow indicator, however, provides good signals by using multiple indicators. This is especially true when these indicators are generating contradictory signals. However, using multiple indicators for signals can also be complicated and confusing.

Thus, many forex traders used three or more indicators to filter out good trade setups.

Using just one mt4 indicator to trade can give more false signals. Using signals generated by a single forex indicator can be risky while trading.

Super arrow indicator no repaint