Expiry Arrows
- Indicators
- Vitalyi Belyh
- Version: 1.0
- Activations: 7
Expiry Arrows - a technical indicator that gives signal arrows on fractal points. Based on RSI indicators.
Works in two modes, only down arrows or only up arrows. Use on two charts. Can be used independently or together with trend indicators.
If used independently, you need to open the H1 or H4 time frame, after the signal arrow, wait for the signal on M5 or M15.
Arrows are displayed when the candle opens, they are not redrawn. You can change the frequency of signal arrows.
The indicator provides three levels of exit from transactions, the parameters of the levels can be changed within several candles.
How the indicator works
Blue arrow - Sell signal, exit - red circle.
Red arrow - Buy signal, exit - blue circle.
After the signal arrow appears, it builds an entry line at the opening of the candle following the signal, if the price goes against us for 3 candles - close the position, if in our favor - close one of the three options, which is better according to the counter statistics, is indicated by a circle. For each potential exit, a line is built - a level. Stop loss is taken as the maximum/minimum of the candle before the signal arrow.
Indicator capabilities
Provides several types of alerts.
Can be used on any financial instruments.
Can be used on any time frames.
Use signal counters for the convenience of selecting parameters and TF for use in trading.
Input parameters
Works in two modes, only down arrows or only up arrows. Use on two charts. Can be used independently or together with trend indicators.
If used independently, you need to open the H1 or H4 time frame, after the signal arrow, wait for the signal on M5 or M15.
Arrows are displayed when the candle opens, they are not redrawn. You can change the frequency of signal arrows.
The indicator provides three levels of exit from transactions, the parameters of the levels can be changed within several candles.
How the indicator works
Blue arrow - Sell signal, exit - red circle.
Red arrow - Buy signal, exit - blue circle.
After the signal arrow appears, it builds an entry line at the opening of the candle following the signal, if the price goes against us for 3 candles - close the position, if in our favor - close one of the three options, which is better according to the counter statistics, is indicated by a circle. For each potential exit, a line is built - a level. Stop loss is taken as the maximum/minimum of the candle before the signal arrow.
Indicator capabilities
Provides several types of alerts.
Can be used on any financial instruments.
Can be used on any time frames.
Use signal counters for the convenience of selecting parameters and TF for use in trading.
Input parameters
- Indicator calculation method - Only SELL/Only BUY signals
- Period of arrow frequency - Parameter for generating signal arrows (5-55)
- Exit-1 / Exit-2 / Exit-3 - Possible options for exit
- Text Shift / Text Size - Shift and size of counter numbers
- Show Lines - Show / hide lines - exit levels
- Up line color / Down line color - Color of lines and numbers of the counter
- Candle counter - How many candles to use in the signal counter.
- Play sound / Display pop-up message / Send push notification / Send email - Use alerts when signal arrows appear for entries.
- Sound file signal - Sound file for the signal arrow.
- Sound file exit - Sound file for the exit signal.