Strength Arrow
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Strength Arrow
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Khurram Mustafa
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
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Recommendations:
Attached this indicator on higher timeframes such as H1 - H4 - D1 - Weekly - Monthly
