Arrow Signal
- Indicators
- Vladimir Karputov
- Version: 2.3
- Updated: 5 February 2022
- Activations: 5
This indicator belongs to the "Stochastic" category. I tried to simplify the control of the indicator as much as possible, so the minimum settings are shown in the input parameters: this is the choice of an icon for the signal arrows. The "Buy" signal is encoded with the 'Buy Arrow code' parameter, and the "Sell" signal is encoded with the 'Sell Arrow code' parameter. Signal arrow codes for signals (please use values from 32 to 255) are taken from the Wingdings font.
The indicator works on every tick and searches for signals on the current bar (the current bar is the rightmost bar on your chart), so situations are possible when a signal appears and disappears on the current bar. Knowing about this property, you can use a signal from the current bar if you want to receive an early signal. But at the same time it will be a more risky trade. If you use a signal from the previous bar, then such trading will be safer.
In version 2, the signal search algorithm has been changed - version 2 cuts off some false signals.