Trend Arrows is a trend trading indicator that draws support and resistance lines on price charts in the form of arrows.
The indicator calculates values based on the average price of a currency pair over a specific number of bars (iPeriod):
- During a downtrend, the indicator only draws a resistance line (red arrows).
- During an uptrend, it draws a support line (green arrows).
If the price of a currency pair approaches a support or resistance level and does not break through it on the current bar, this can be a signal for buying or selling.
A confirmation for opening an order will be the appearance of the next arrow, which confirms the current trend or indicates a change in market conditions.
Trend Arrows can be used not only for traditional trading but also for binary options when configured correctly.
- Download the Trend Arrows indicator
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FAQ
What is Trend Arrows?
Trend Arrows is a trend trading indicator that draws support and resistance lines on price charts as arrows.
How does Trend Arrows work?
The indicator uses the average price of a currency pair over a set number of bars to draw arrows that indicate support and resistance levels during uptrends and downtrends.
Can Trend Arrows be used for binary options?
Yes, when properly configured, Trend Arrows can be used for both traditional trading and binary options.
