A great indicator for those that like an uncluttered chart. Presents trend strength in simple arrow form, highlighting reversals. Simply trade in the direction of the arrow!
The code is purely based on Relative Strength Indicator and the reason to amend is updating when the currency pair comes out from extreme oversold and overbought.
It can be used on any timeframe, but I recommend to attach this indicator on high timeframes. I checked this all is good instead of repaint.
I request if anyone will solve the repaint issue, I will be really thankful to him.
When reading crossed overbought or oversold levels and returning from medium or extreme level, user will get a signal as a buy or sell arrow.
MT4 Indicators – Download InstructionsStrength Arrow is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data. Strength Arrow provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Strength Arrow.mq4?
- Download Strength Arrow.mq4
- Copy Strength Arrow.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Strength Arrow.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Strength Arrow.mq4 is available on your Chart
How to remove Strength Arrow.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete