Super Arrow Indicator is an easy tool to trade on the MT4 platform. It can be used for all currency pairs and all timeframes. Let’s look at it a bit closer.
The Super Arrow indicator combines several tools that help to ensure good trading signals. Among these tools are the Moving Averages, Relative Strength Index, Bollinger Bands, and Magic Filter indicators. With the use of them, the Super Arrow is able to produce quite accurate BUY/SELL signals.
The indicator advises you when to buy or sell the currencies. The green arrow is a signal that you need to enter a buy order. The red arrow appears when you need to enter a sell order — that means the price of the currency is the highest at the moment.
When using the indicator do not forget to set Stop Losses. You can close the trade at a comfortable Take Profit level or at the opposite signal. Make sure the Take Profit value is at least two times higher than the Stop Loss value.
What is more, it is possible to combine the Super Arrow indicator with other indicators or use it on its own — the decision is yours to make.
Examples of the trades
Below you can see how the indicator looks like, when installed on the MT4 platform.
The green arrows determine when the market is bullish, so to say when you should buy a currency pair. The red arrow is a sign that the market is bearish, so there is strong advice to sell.
My Conclusion on the Super Arrow Indicator
The Super Arrow indicator is a great tool suitable for both new and experienced traders. It has a simple interface and clear sell and buy signals.
Before using the indicator, I recommend you test it on a demo account. We also advise you to combine it with other indicators that confirm the signals.
Check other free indicators here: https://altraforex.com/post/category/freesoftware/