The Super Arrow indicator is a combination of conditions based on several technical indicators to generate trading signals. It constantly tests the direction of the price thanks to indicators like RSI, several exponential moving averages and Bollinger bands.
The parameters of each of these indicators can be modified to suit the indicator. Trading signals are indicated by red and green arrows on both the entire history and also to generate them in real time.
The trading signals are also filtered by a search of the last higher and lower to determine if the signal is breakout type or not.
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//PRC_Super Arrow Indicator | indicator //24.10.2019 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge //converted from MT4 code // --- settings FasterMovingAverage = 5 SlowerMovingAverage = 200 RSIPeriod = 12 MagicFilterPeriod = 14 BollingerbandsPeriod = 20 BollingerbandsShift = 0 BollingerbandsDeviation = 1.6 BullsPowerPeriod = 50 BearsPowerPeriod = 50 // --- end of settings ima12 = average[FasterMovingAverage,1] ima28 = average[FasterMovingAverage,1][1] ima20 = average[SlowerMovingAverage,1] ima36 = average[SlowerMovingAverage,1][1] irsi44 = RSI[RSIPeriod](CLOSE) irsi52 = RSI[RSIPeriod](CLOSE)[1] ibullspower=high-average[bullspowerperiod,1] ibearspower=low-average[bearspowerperiod,1] ibullspower60 = iBullsPower ibullspower68 = iBullsPower[1] ibearspower76 = iBearsPower ibearspower84 = iBearsPower[1] ibandsup=average[bollingerbandsperiod][bollingerbandsshift]+std[bollingerbandsperiod](close)[bollingerbandsshift]*bollingerbandsdeviation ibandsdn=average[bollingerbandsperiod][bollingerbandsshift]-std[bollingerbandsperiod](close)[bollingerbandsshift]*bollingerbandsdeviation ibands152=ibandsup ibands160=ibandsdn ibands168=ibandsup[1] ibands176=ibandsdn[1] hh = highest[MagicFilterPeriod](high) ll = highest[MagicFilterPeriod](low) ld92=0 ld100=0 for i = 1 to MagicFilterPeriod do if high[i]=hh then ld92=i endif if low[i]=ll then ld100=i endif if ld92>0 and ld100>0 then break endif next Ld108 = 100 - 100.0 * ((Ld92 - 0.0) / 10.0) Ld116 = 100 - 100.0 * ((Ld100 - 0.0) / 10.0) if (Ld108 = 0.0) then Ld108 = 0.0000001 endif if (Ld116 = 0.0) then Ld116 = 0.0000001 endif Ld124 = Ld108 - Ld116 if (Ld124 >= 0.0) then Gi148 = 1 //true Gi168 = 0 //false else if (Ld124 < 0.0) then Gi148 = 0 //false Gi168 = 1 //true endif endif if (Close > ibands152 and Close[1] >= ibands168) then Gi144 = 0 Gi164 = 1 endif if (Close < ibands160 and Close[1] <= ibands176) then Gi144 = 1 Gi164 = 0 endif if (ibullspower60 > 0.0 and ibullspower68 > ibullspower60) then Gi140 = 0 Gi160 = 1 endif if (ibearspower76 < 0.0 and ibearspower84 < ibearspower76) then Gi140 = 1 Gi160 = 0 endif if (irsi44 > 50.0 and irsi52 < 50.0) then Gi136 = 1 Gi156 = 0 endif if (irsi44 < 50.0 and irsi52 > 50.0) then Gi136 = 0 Gi156 = 1 endif if (ima12 > ima20 and ima28 < ima36) then Gi132 = 1 Gi152 = 0 endif if (ima12 < ima20 and ima28 > ima36) then Gi132 = 0 Gi152 = 1 endif if (Gi132 and Gi136 and Gi144 and Gi140 and Gi148 and Gi172 <> 1) then drawarrowup(barindex,Low - 1.3 * std[14]) coloured(0,255,0) Gi172 = 1 endif if (Gi152 and Gi156 and Gi164 and Gi160 and Gi168=0 and Gi172 <> 2) then drawarrowdown(barindex,High + 1.3 * std[14]) coloured(255,0,0) Gi172 = 2 endif RETURN |
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No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.
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Hi, I cannot get this indicator to work, installed it twice.
Apply it on the price chart and you’ll get the trading signals.
Hi Nicolas, would you mind to take a look at my comment here: https://www.prorealcode.com/prorealtime-indicators/candlestick-patterns-recognition/ Thank you.
che periodi consigli sul dax ad un minuto … grazie
THANK YOU Nicolas
Hello. I placed it on the price chart and nothing appear. Did I make a typical mistake? Merci
No mistake, few signals.
Nicolas, I cannot get this one to work on tradingview. Got the following error message. Can you please help? Thank you!!
Script could not be translated from: ,1]|E|
|B|ima28 = average
Script ‘Superarrow’ has been saved
There is no code for Tradingview on this website.
Try as soon as:
hh = highest[MagicFilterPeriod](low)
ll = highest[MagicFilterPeriod](high)