Profitable EAs are created with a good understanding of the formation, continuation, and reversal of trends. Introduction to the free indicator "Multi-Timeframe High/Low Rising/Falling Arrow Indicator"

A profitable EA is created by well understanding the occurrence, continuation, and reversal of trends.

　Free Indicator

Introduction of the “Multi-timeframe High/Low Rising/ Falling Arrow Indicator”

■ Overview

① Based on Dow Theory, which forms the basic basis of FX trading, arrows are displayed when highs/lows rise or fall.

② It does not repaint.

③ Depending on the Zigzag depth, two types of upward and downward arrows are displayed.

④ When arrows are displayed, email alerts and alerts are triggered.

■ Background of Development

・ In trends, there are large waves and small waves. The larger waves are the main trend, and the smaller waves are for adjustment.

・ According to Dow Theory, as highs and lows rise, the uptrend continues; as highs and lows fall, the downtrend continues.

・ When a large wave is an uptrend and the smaller waves transition from decline to rise, it should be an entry opportunity.

・ Various ideas were considered to find this entry opportunity, which led to the creation of

this “Multi-timeframe High/Low Rising/ Falling Arrow Indicator”.

・ Highs and lows detection uses Zigzag. The deeper the Zigzag, the larger the waves.

With a small Zigzag depth, waves are smaller.

・ By using this, you can understand the trend of large waves and small waves.

■ Parameter Description and Default Values

・ZigZagDepth1 = 20　　　　// Depth of Zigzag 1

・ZigZagDepth2 = 50　　　　// Depth of Zigzag 2

・UseAlert = true　　　// Whether to trigger alerts

・UseMail = true　　　// Whether to send emails

・ShowBars 　= 3000　　　// Number of candles to display arrows

■ Display Principle

・An upward arrow on the next candle after a candle that has both its high and low raised by Zigzag

・A downward arrow on the next candle after a candle that has both its high and low lowered by Zigzag

■ Display Example

■ Email and Alert Content Example

“USDJPY M5 HiLow Zigzag Arrow DownSignal Depth:20”

“EURUSD M5 HiLow Zigzag Arrow UpSignal Depth:50”

■ Introduction site for this indicator

“Multi-timeframe High/Low Rising/ Falling Arrow Indicator”

■ EA Sales Site

My created EAs are sold at the following:

“Senji Bani Kurenai” https://fx-on.com/systemtrade/detail/?id=14944

That’s all.