SUPER ARROW INDICATOR MT4

• The Super Arrow indicator for MT4 uses multiple indicators to generate high-winning signal trades

Using signals generated by a single indicator can be risky while trading. This is because using just one indicator to trade can give more false signals. Thus, many forex traders used three or more indicators to filter out good trade setups.

• However, using multiple indicators for signals can also be complicating and confusing. This is especially true when these indicators are generating contradictory signals. The Super Arrow indicator, however, provides good signals by using multiple indicators. Thus, the Super Arrow indicator for MT4 avoids the problem of indicators contradiction.

The foundation

• The Super Arrow indicator for MT4 uses multiple indicators to generate high-winning signal trades. These indicators combined are the Moving Averages, Relative Strength Index, Bollinger Bands, and Magic Filter. These indicators are utilized by the Super Arrow indicator to filter out false signals as well as to generate good ones.

The diagram below shows how this indicator is displayed on the MT4 chart.

• The EUR/USD H1 chart above shows the Super Arrow indicator. This indicator pops up red (sell) and the green (buy) arrows on the chart. The indicator displays a red arrow when the market is bearish and when there’s a strong sell signal. Consequently, the indicator displays a green arrow when the market is bullish and when there is a strong buy signal.

This indicator is suitable for both professional and new forex traders. New forex traders will particularly find this indicator valuable as there is no analysis required on their end. Professional traders can use this indicator in conjunction with other indicators and market analysis.

• Furthermore, this indicator can be used in all time frames to spot an entry and exit the market. The indicator also works in a ranging and trending market for entry, stop-loss and take-profit placement, and for closing trades.

How to use the Super Arrow indicator

• As mentioned earlier, the Super Arrow indicator works perfect in all market environments. The USD/CAD H4 chart below shows an analogy on how this indicator can be used in a trending market.
• In a trending market, it is advisable to buy when this indicator paints a green arrow in the lower trendline of the descending channel. The buy trade is advised to be closed when the indicator paints a red arrow or when the price reaches the upper trendline of the descending channel.

Consequently, it is advisable to open a short position when this indicator paints a red arrow in the upper trendline of the descending channel. The sell trade is advised to be closed when the indicator paints a green arrow or when the price reaches the lower trendline of the descending channel.

Conclusion

• The Super Arrow indicator for MT4 uses multiple indicators to give high-rewarding signals. These signals can be easily understood by new and professional traders. This indicator can also be used to enter and exit trade.

The Super Arrow indicator works in all market conditions (trending and ranging market) and in all time frames. This indicator can be used solely or in combination with other indicators as well as with price action and market structure analysis.