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The DKX Arrows Alerts indicator is a trading algorithm whose calculations are used to trade during a certain market trend. Thus, the indicator's calculations are aimed at determining the direction, and strength of the current market movement, as well as the moment of opening a certain position, taking into account it. The indicator is presented mainly in the price chart window in the form of two intersecting lines, at the moment of the intersection of which arrows of a certain color and direction are formed. Taking into account the current values of the indicator and its signals, a certain trade can be opened.
The DKX Arrows Alerts indicator is suitable for trading any currency pairs, on any timeframes.
Input parameters
The settings of the DKX Arrows Alerts indicator include several sections, each of which is responsible for its general functioning. The Input Parameter section is quite advanced and is responsible for its technical work. The Colors section is used to change visualization parameters, such as the color and thickness of its values.
-SignalPeriod - calculation period of the indicator's signal line. The default value is 12.
-Alerts - the option to have a notification when an indicator signal is received. The default value is true.
-AlertSound - option to use a sound notification on an alarm. The default value is true.
-SoundFile - The file to use when playing the sound notification. The default value is stops.wav.
-Arrow - parameter for the presence of arrows on the chart. The default value is true.
-ArrowSize - the size of the indicator arrows. The default value is 1.
-SIGNAL BAR - signal bar parameter. Default value is 1.
-ArrowBuy - color of the arrow with growth value. Default value is Dodgerblue.
-ArrowSell - arrow color with drop value. Magenta by default.
-ArrowComment - type of indicator arrows to use. Default is DKX TT.
Indicator signals
The DKX Arrows Alerts indicator is very easy to use, not only due to convenient visualization but also due to the presence of notifications when signals are received. Thus, to open a certain trade, both the current values of the indicator and its signals should be taken into account. The direction of the current trend should be taken into account,, whichis determined taking into account the intersection of the indicator lines and their direction. To open a trade during this period, the color and direction of the arrow are taken into account. If the current market trend is upward, long positions are opened, if the trend is downward, short positions are opened. At the moment of a trend change, in both cases, trades are closed.
Signal for Buy trades:
- The indicator lines are directed upwards and intersect so that the fast one is higher than the slow one. An upward arrow is formed under the lines.
Upon receipt of such conditions on a signal candle, confirmed by the presence of an uptrend and an indicator signal, a buy trade can be opened. Upon receiving the opposite conditions from the indicator, that is, at the moment the current trend changes, the trade should be closed and the opening of new ones should be considered.
Signal for Sell trades:
- The slow line intersects with the fast one and is located above it. An arrow is formed above the lines, pointing down.
A sell trade can be opened immediately upon receipt of such conditions on a signal candle. At this moment, a downtrend is determined in the market. At the moment of its change, namely upon receipt of the reverse conditions, the current trade should be closed and a new one should be considered.
Conclusion
The DKX Arrows Alerts indicator is a fairly powerful trading algorithm that is used to trade with the trend. The indicator is very easy to use thanks to its visualization and signals, but it is recommended to practice on a demo account before using it on a real deposit.
