Curves & Arrows applies the high-low method in order to plot trade signals for its users. It uses curved bands around the price bars for determining the possible ranges of the price movements and adds arrow signals to point the direction and place of the trade entries. The simplicity of this indicator could be an advantage for the newbie traders who struggle with the complex indicators/trading system.
Curves & Arrows is applicable to trade any forex currency pair you like available around the financial markets. Moreover, this indicator suits with all sorts of timeframe charts within the MT4 trading platform.
Curves & Arrows Overview
After the installation of Curves & Arrows at the MT4 terminal, your trading chart will appear like the following image:
Curves & Arrows: Explanation
Curves & Arrows applies its own price envelopes to determine the possible range of the market momentums. Price hits the lower band with a blue upward arrow below the price bar signals for long entry from the possible swing low of the market. On the contrary, price hits the upper band with a red downward arrow is considered as a selling opportunity from the swing high of the market.
Curves & Arrows can alone signal both the entry and exit at the market. However, you can add other trend-following indicators like Moving Averages, RSI or Stochastics along with the indicator for greater accuracy or confirmation of the trade signals.
Also Read: Vulkan Profit Indicator
Curves & Arrows: Buy Parameters
- A bullish bar forms right above the lower band of Curves & Arrows
- Curves & Arrows plots a blue upward arrow below the respective bullish bar
- Buy triggers when the high of the signaling bar is broken by the following price candles
- Set stop loss below the lower band area of the indicator
- Exit long/take profit whenever price hits the upper band and a red downward arrow is plotted above the price bar
Curves & Arrows: Sell Parameters
- A bearish bar forms right below the upper band of Curves & Arrows
- Curves & Arrows plots a red downward arrow above the respective bearish bar
- Sell triggers when the low of the signaling bar is broken by the following price candles
- Set stop loss above the upper band area of the indicator
- Exit short/take profit whenever price hits the lower band and a blue upward arrow is plotted below the price bar