The indicator displays possible price reversals based on the analysis of volumes, breakdowns and fractals using wave time analysis. This is a great tool for any chart. It indicates price reversals with high accuracy, and is perfect for scalping on a 5-minute timeframe, although I would recommend running it on an hourly chart. Buy and sell signals are displayed on the chart with green and red arrows, respectively. The signals are not redrawn, but often after the second candle or the closing of the bar, confirmation signals are formed.
It is a powerful tool for increasing the probability of success, based on proprietary algorithms for analyzing prices and volumes. It differs favorably from other arrow indicators in that it is not based on moving averages, but on the analysis of price action. It focuses on the change in the current price of the instrument relative to its past prices in comparison with historical data.
- The indicator can be used for trading currencies on forex, as well as CFDs and binary options
- Suitable for timeframes of 5 minutes and older, for currency pairs with a low spread
- You can trade on any instrument
- This is a great tool for both beginners and experienced traders
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- Green arrows – buy signals
- Red arrows – sell signals.
- Works best with signals above the 200-period MA
Default parameter set
- Calculates On Bar Close = False-calculates On Bar close
- Alert On = True-alert
- Alert On Current = True-alert on the current bar
- Alert Massage = True-a pop-up message about the appearance of the signal
- Alert Sound = True – sound alert
- Alert Notify = True-early notification
- Alert Email = True-notification by email
Calculate On Bar Close – when using the indicator on historical bars, the OnBarUpdate function is activated at the close of each historical bar, even if the parameter value is “False”. This is due to the fact that only the values of the opening, high, low and closing prices are available in the historical data, and the values of the ticks inside the bar are not available. The default value of the parameter is False.
Alert On – one alert per bar when a buy/sell signal appears
Alert On Current – if set to “True”, the alert appears on the current bar, not the closed one
Alert Message – if set to “True”, a pop-up message is displayed notifying you of the alarm
Alert Sound – an audible alert when a pop-up message is displayed and a signal appears
Alert Notify – Early alarm alerts
Alert Email – to send an email message, you must specify the appropriate settings in the terminal.