Taishan Arrow Indicator for MetaTrader 5 | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

On July 6, 2025, in version 2, the indicator added alerts/notifications and signals functionality

The Tarzan Arrows indicator is designed specifically for the MetaTrader 5 platform and uses the Relative Strength Index (RSI) and Moving Averages to identify bullish or bearish market trends.

By analyzing the relative strength of the current trend compared to the previous trend, this tool draws a channel on the RSI chart and identifies key points to enter or exit a trade.

Taishan Arrow Indicator Table

The following table shows the general specifications of Tarzan Arrows indicators:

Indicator overview

The Taishan Arrow Indicator uses RSI and moving averages and uses color channels to visualize market conditions as explained below:

• Channel formation based on RSI : Channels are formed using moving averages, RSI, and upper and lower limits. This structure acts as a bounded zone, limiting RSI fluctuations within prescribed limits;
• RSI line enters the channel : When the RSI value enters the channel from above or below, it indicates that the market trend is weakening or reversing;
• Channel color change as a trading signal : If the RSI enters the channel from below, the indicator generates a bullish signal and the channel turns green. Conversely, when the RSI enters from above, indicating a potential bearish reversal, the channel color changes to red.

Indicators in a Bullish Trend

On the 5-minute chart of the USD/JPY pair, the RSI line broke below the lower band before re-entering the upward channel.

In this case, the channel turns green, indicating increasing bullish momentum in the market.

Indicators in a Bearish Trend

The price chart below shows the USD/CHF currency pair on the 1-hour time frame.

If the RSI line moves above the upper band and then re-enters the downward channel, this move is considered a sign of decreasing buying pressure and could signal the beginning of a price correction or even a bearish reversal.

Tarzan Arrow Indicator Set

The detailed settings panel of Tarzan Arrows Indicator is shown below:

• ALERT : Show Alert;
• EMAIL : Send Email;
• NOTIFICATION : App Notification;
• MESSAGE SUBJECT : Alert message title;
• RSI Period : Show RSI Period;
• Applied Price : Closing Price;
• MA Period : moving average period;
• MA Method : moving average type;
• Koridor : Channel Width;
• Up Arrow Color : Bullish arrow color;
• Down Arrow Color : Bearish arrow color.

Conclusion

The Tarzan Arrows indicator uses a combination of the Relative Strength Index (RSI) and moving averages to analyze trend strength and identify potential price reversal points.

Displayed through channel color changes and colored blocks, this binary indicator provides signals of momentum entry or exit within the market movement structure.