This indicator is called the power arrow indicator. It’s composed of a 2 moving averages.
A green arrow appears when the short-term MA crosses the longer term MA from below (bullish).
A red arrow appears when the short-term MA crosses the longer term MA from above (bearish).
Forex Signals From This Indicator
BUY: Green power arrow appears on the chart.
SELL: Red power arrow appears on the chart.
Use in conjunction with other technical indicators and tools such as oscillators, candlestick patterns and trend lines.
Configurable Indicator Options
Colors, Alerts (true/false)
GBP/USD 1 Hour Chart Example
How to install the Power Arrow custom indicator in Metatrader 4?
- Download the power arrow.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.