The 123 Arrows Forex trading system for MT4 provides traders with easy to follow buy & sell signals based on the 1-2-3 price action trading pattern.
In essence, it identifies possible price reversals on the chart with the help of no-lag price action.
This trading system works in both range-bound and trending currency markets.
The buy and sell arrows won’t repaint and always stay on the chart.
Strategy Setup & Recommendations
Indicators (MT4) : 123-arrows.mq4 (default settings)
Currency pairs: works on any pair
Time frames: works on any time frame
Trade style: good for scalping, day trading and swing trading
Trading Platform: Metatrader 4
Chart Example (EUR/USD M15)
After you downloaded and installed this system on the MT4 trading platform, it should look like the image as shown below.
System Buy & Sell Rules:
- A buy signal is given when the green arrow gets painted on the chart.
- Place stop loss below previous swing low.
- Exit the buy trade near previous resistance or simply wait for an opposite sell trading signal.
- A sell signal is given when the red arrow gets painted on the chart.
- Place stop loss above previous swing high.
- Exit the sell trade near previous support or simply wait for an opposite buy trading signal.
How to install this Forex system in Metatrader 4?
Then, install the technical indicators as follows:
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the downloaded indicators in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicators to the chart.
Now you are ready to start using this trading system!
About the 123 Arrows Forex Indicator (MT4)
The indicator specializes in finding price levels where the trend may reverse in the opposite direction.
Input variables: Output, close price based, signal, period, smooth, level up, level down, limit, alerts
Feel free to combine this trading system with other technical indicators or with price action.
Explore and experiment with the indicator’s different inputs and settings to create your own personalized strategy setup.