Super Arrow Indicator Download for MetaTrader4 - Free - [TF Lab] - MT4/MT5 Resources

On June 22, 2025, in version 2, the indicator added alert/notification functionality

The Super Arrow indicator is a popular indicator in the MetaTrader 4 indicator family that utilizes a combination of indicators, including RSI (Relative Strength Index), Bollinger Bands , Moving Averages , and a magic filter to effectively identify the best reversal points and pivot highs and lows in trading charts.

This binary indicator marks pivot lows with green arrows and pivot highs with red arrows. By integrating multiple indicators, Super Arrow provides a powerful filter that helps accurately identify lows and highs in price charts.

This is an invaluable tool for traders who wish to determine entry and exit points based on pivot signals.

Indicator Table

The image shown depicts a chart of the S&P 500 Index with the symbol [US500] on an hourly basis. Points A, B, and C were identified as pivot lows where the indicator issued a buy signal marked with a green arrow.

In contrast, points D, E and F represent pivot highs where the indicator has issued a sell signal marked with a red arrow.

This setup demonstrates how the indicator effectively uses color-coded arrows to indicate the best trading opportunities at key points in the price chart, guiding traders on potential buys and sells.

Overview

Using signals from a single indicator can be risky for trading, mainly when different indicators give conflicting signals at the same time.

Therefore, combining three or more indicators can help filter out high-risk signals and find more reliable trading entry points.

This approach enhances decision-making by providing a more comprehensive view of market conditions.

In such a multi-indicator system, when the market is bullish and a strong buy signal occurs, the MT4 signals and prediction indicators will display green arrows to indicate buying opportunities.

Conversely, when the market is bearish and a strong sell signal occurs, the red arrow indicates a potential selling opportunity.

Buy signal (uptrend)

The image below shows the daily price chart of Bitcoin with the symbol (BITCOIN), where the indicator has identified the main pivot levels at bottom numbers 1 and 2 and issued a buy signal by displaying a green arrow.

As buy signals appear, one can look for confirmations such as candlestick patterns and reversal patterns to place trades.

Sell ​​signal (downtrend)

The image below shows the 4-hour price chart of Gold with the symbol (XAUUSD), where the indicator has identified potential reversal points at major pivot highs 1, 2, 3 and 4 and issued a sell signal with a red arrow.

Using classic support and resistance levels helps confirm the indicator's signals.

Super Arrow Indicator Settings

• FasterMovingAverage : Set the fast moving average to 5;
• SlowerMovingAverage : Set the slow moving average to 12;
• RSIPeriod : The period of the RSI indicator should be 12;
• MagicFilterPeriod : Set the period of the Magic Filter indicator to 1;
• Bollinger Band period : The period of Bollinger Band is 10;
• BollingerbandsShift : The offset of Bollinger Bands is set to zero;
• Bollinger Bands Bias : Set the Bollinger Bands bias to 0.5;
• BullsPowerPeriod : The period of the bulls power indicator is 50;
• BearsPowerPeriod : The period of the bear power indicator is 50;
• Alerts : Set indicator alerts to True;
• Utstup : Set the number to 10.

Conclusion

The Super Arrow indicator works in all trending and sideways markets (Trends-Sideways) and across multiple timeframes (Multi-Timeframe).

For example, whenever a buy signal (green arrow) occurs at the bottom of a bullish channel, a buy trade can be executed to utilize this indicator more effectively.

In contrast, in a bearish channel, a sell trade can be executed whenever a sell signal is given at the top of the channel (red arrow).