Vertex Alert Arrow Indicator Download for MetaTrader 4 – Free – [TFlab] – MT4/MT5 Resource

The Top Alert Arrow indicator is a technical analysis tool used to identify overbought and oversold areas. It combines three famous indicators Bollinger Bands, Moving Averages and Momentum to generate accurate buy and sell signals.

This MetaTrader 4 signals and prediction indicator displays blue and red arrows on the chart marking entry (buy) and exit (sell) points for traders.

Indicator characteristics table

The following table summarizes the functions of the Vertex Alert Arrow indicator.

Indicators at a glance

The Top Alert Arrow indicator displays two types of trading signals:

• When the red oscillator line crosses the +6 or -6 level, colored arrows will appear on the chart, indicating a weak signal;
• If the red line crosses the +10 or -10 levels, the situation is considered a strong signal and is marked with a bold circle above the candle.

Indicators are in an upward trend

In the CAD/CHF price chart, when the red oscillator line reaches the -6 level, an oversold condition is detected and the indicator shows a green arrow, indicating an initial entry.

When the oscillator continues its downward movement and crosses the -10 level, this situation is interpreted as a strong buy signal, which the indicator marks with a bold blue circle below the candle.

Indicators are in a downward trend

On the 1 hour chart of GBP/JPY, the red oscillator line initially crossed the +6 level and the indicator shows red arrows, indicating a weak downward trend.

When the red line crosses the +10 level and enters the overbought zone, the conditions for a strong sell signal are met, which are marked on the candle with a bold red circle.

Indicator Settings

The following image shows the parameter settings for the Vertex Alert Arrow indicator:

• Processed : number of candles of the indicator processed
• Control_Period : Control period for signal calculation
• Signal_Period : signal calculation period
• Signal_Method : signal calculation method
• BB_Up_Period : The number of candles used to calculate the upper limit
• BB_Up_Deviation : The standard deviation of the upper band
• BB_Dn_Period : The number of candles used to calculate the lower track
• BB_Dn_Deviation : The standard deviation of the lower limit
• levels : Overbought level
• levels : Oversold levels
• extremelevelOb : extreme overbought level
• extreme levels : extreme oversold levels
• Albertson : Enable all alerts
• alertsOnObOs : Standard overbought and oversold level alerts
• alertsOnExtremeObOs : Extreme overbought and oversold level alerts
• alertsOnCurrent : Alerts for the current candle
• alert message : display alert information
• alert sound : Play alert sound
• alerts email : Send alerts to email
• alerts notify : Send notification reminders
• sound file : Alert sound file
• arrows visible : Enable arrow display
• arrowsIdentifier : The name of the arrow identifier on the chart
• arrowsUpperGap : the gap between the rising arrow and the candle
• arrowsLowerGap : the gap between the falling arrow and the candle
• arrowsOnObOs : Displays standard overbought and oversold arrows
• arrowsObOsUpColor : Buy arrow color
• arrowsObOsDnColor : Sell arrow color
• arrowsObOsUpCode : Purchase arrow graphics code
• arrowsObOsDnCode : sales arrow graphics code
• arrowsObOsUpSize : Buy arrow size
• arrowsObOsDnSize : Sell arrow size
• arrowsOnExtremeObOs : Arrows showing extreme overbought and oversold
• arrowsExtremeObOsUpColor : strong buy arrow color
• arrowsExtremeObOsDnColor : strong arrow color
• arrowsExtremeObOsUp code : strong buy arrow graphic code
• arrowsExtremeObOsDn code : strong selling arrow graphic code
• arrowsExtremeObOsUpSize : Strong buy arrow size
• arrowsExtremeObOsDnSize : forced arrow size

Conclusion

The Apex Alert Arrow Indicator is a multi-layered alert tool that combines multiple technical analysis indicators to provide quick analysis of market conditions in key areas. It helps identify overbought and oversold areas and generate clear buy and sell signals.

By generating precise multi-level signals, this MetaTrader 4 oscillator displays market conditions in key areas and is extremely valuable to traders when used in conjunction with other technical analysis tools.