Arrows Indicator for MT5 Download – Free – [TradingFinder]

The Arrows Indicator in MetaTrader 5 is built on the Bollinger Bands Indicator and displays trailing stop levels for bullish and bearish trends on the chart. Using colored arrows, this tool marks buy and sell signals while also providing the option to set dynamic stop loss levels.

Specification Table of the Arrows Indicator

The specifications of the Arrows Indicator are listed in the table below.

Arrows Indicator at a Glance

In the Arrows Indicator, the formation of a green trailing stop line below the candles indicates a continuation of the bullish trend.
Conversely, the appearance of an orange stop-loss above the candles signals bearish market dominance. In addition, entry signals are marked on the chart using arrows.

Bullish Trend Conditions

According to the 30-minute chart of Solana (SOL) cryptocurrency, the buy signal is marked with a green arrow and considered a probable entry point. In this condition, the trailing stop line below the candles provides an appropriate zone for placing the stop-loss.

Bearish Trend Conditions

Based on the 1-hour chart of Euro vs Swiss Franc (EUR/CHF), the indicator identified a bearish market direction and issued a sell signal.
In such conditions, the orange trailing stop line above the candles is considered a suitable area for placing the stop-loss.

Arrows Indicator Settings

The settings of the Flash Indicator are as follows:

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

Conclusion

The Arrows Indicator plots dynamic trailing stop lines on the chart with green and orange colors, identifying bullish and bearish market trends.
Additionally, colored arrows visually mark entry and exit points for trades. This indicator can be applied across multiple timeframes and trading styles.