Strength Arrow - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Khurram Mustafa
The code is purely based on the Relative Strength Index and the reason for the modification is to update when a currency pair moves away from extreme oversold and overbought conditions.
It can be used on any timeframe, but I recommend attaching this indicator on high timeframes. I checked and it was all fine instead of repainting.
I request that if anyone can solve the repaint problem I will be very grateful to him.
Users will receive a buy or sell signal arrow when a read crosses overbought or oversold levels and returns from moderate or extreme levels.
suggestion:
Attachment download
📎 km-sa.mq4 (2.23 KB)
Source: MQL5 #14338
Strength Arrow - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Strength Arrow - MetaTrader 4 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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