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The IINWMarrows indicator is a trading algorithm, the calculations of which are based on the functioning of two moving averages, the periods of which are set in the indicator settings. This indicator is used by calculations to identify the direction of the current trend and open trades in a certain period. It is presented directly in the main window of the price chart in the form of arrows of a certain color and direction, which in turn serve to determine information about the current market.
The IINWMArrows indicator is suitable for use with any currency pairs on a timeframe not higher than the H1 interval.
Input parameters
The IINWMArrows indicator settings consist of several input parameters, which in turn serve to perform the technical work of the indicator. The Colors section is used to change the color scheme and the overall size of the indicator arrows.
- FasterMode - Smoothing type of the indicator's fast moving average. The default value is 3.
- FasterMA - fast moving average period value. The default value is 3.
- SlowerMode - slow moving average type of the indicator. The default value is 3.
- SlowerMA - period of the slow moving average of the indicator. The default value is 3.
Indicator signals
The algorithm for using the IINWMArrows indicator is very simple, as it is almost identical in use with other arrow indicators. To open a certain trade, it is enough to know the direction of the current trend. For this, the direction and color of the current arrows should be taken into account. If the indicator determines an uptrend, long positions are opened, in a downtrend, short positions are opened. When the current trend changes, trades are closed.
Signal for Buy trades:
- At least three arrows are formed on the chart, having a color with a value of growth and directed upwards.
Upon receipt of such a condition on the candle that after the signal one, a buy trade can be opened, due to the presence of an uptrend. The trade should be closed when the opposite condition is received. At this moment, a trend change is possible on the market, which will allow considering opening new trades.
Signal for Sell trades:
- At least 3 arrows are formed above the candles, pointing down and colored with the value of the fall.
A sell trade can be opened immediately upon receipt of such conditions on a candle that is formed after the signal one. Such a trade should be closed when an opposite candle is formed. At this moment, a change in the current downtrend is possible, which in turn will allow considering the opening of new trades.
Conclusion
The IINWMarrows indicator is a very effective trading algorithm, since its calculations are based on the functioning of an accurate time-tested indicator. To improve the quality of trading, it is recommended to use the indicator with additional filters, advisers or other indicators. Before using it on a real deposit, it should be used a demo account.
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