Arrows Indicator for MT4 Download – Free – [TradingFinder]

The Arrows Indicator, using the Bollinger Bands, plots bullish and bearish trailing stop levels on the chart. In addition to creating dynamic stop-loss levels, this trading tool also provides buy and sell signals with visual arrows.

Specification Table of the Arrows Indicator

The table below describes the specifications of the Arrows Indicator:

Arrows Indicator at a Glance

In the Arrows Indicator, the placement of the green trailing stop below the candles indicates a bullish trend, while the formation of an orange stop-loss line above the trend indicates a bearish trend.
Additionally, this tool marks potential entry points into trades with arrow indicators.

Bullish Trend Conditions

Based on the 1-hour chart analysis of Binance Coin (BNB) cryptocurrency, the probable entry point for buy trades is indicated with a green arrow.
Furthermore, the trailing stop is positioned below the price, allowing traders to place stop-loss orders under the green dynamic line.

Bearish Trend Conditions

According to the 5-minute chart of Gold vs US Dollar (XAU/USD), the indicator has identified a bearish trend and issued a sell signal.
In this situation, the areas below the orange trailing stop line can be considered suitable zones for placing stop-loss orders.

Arrows Indicator Settings

The adjustable parameters of the Arrows Indicator are as follows:

• BB Length: Bollinger Bands length
• BB Deviation: Bollinger Bands standard deviation
• Show Signal: Signal display
• Show Line: Trailing stop line display
• Lookback: Number of previous candles for calculation

Conclusion

The Arrows Indicator plots dynamic trailing stop levels on the chart and highlights bullish and bearish trends with green and orange lines.
In addition to setting dynamic stop-loss levels, it shows possible entry and exit points with arrows. This tool can be used across multiple timeframes and trading strategies[scalping, swing trading, and day trading].