Arrow indicators Forex is a group of technical tools designed to signal about the best moments to open trading positions. We will analyze this kind of trading robots below.
The Forex market is a subject to the constant influence of many factors, so it's not enough for a trader to follow a graph, to have a successful trade. He needs tools that would signal about the specific events of his interest in the market. Such assistants are the technical indicators.
To date, there is a huge number of trading robots, but traders are mostly interested in those that signal a favorable moment to enter the market. Using indicators, the trader will know exactly when to open the deal. Of course, such signals don't guarantee the success, but they allow you to better navigate in the current market situation, and to make much more accurate trading operations.
Advantages of the arrow indicators
Arrow indicators are one of the simplest trading robots that allow you to receive signals to enter the market. There are a lot of such indicators - some of them are built in trading terminals by default, the others you have to search manually for. All of them are characterized by functional features, signal quality in certain market conditions, being displayed on different time frames, etc. To get acquainted with the full list and download the arrow indicators for free you can visit the MTDownloads website.
To understand, why the arrow indicators are so popular in the trading world, here are a few advantages of these trading robots.
- Firstly, it is convenient to work with them. Unlike, for example, the oscillators, or the trend indicators, signals are displayed as arrows. So, you don't need to strain your eyes, draw the lines, nor follow the graph. A trader understands that it's time to act depending on the seen color.
- A significant advantage is the fast visual perception. It's much easier to see an arrow than to draw a line on the graph. For a trader it's simpler to work with: you see a signal - you open an order and put out the stop orders. Trade is almost automatic.
- The arrow indicators are not redrawn, which means their stability. If the indicator is redrawn, it means that it can change the signals anytime. It won't happen to the arrow indicators.
How do the arrow indicators work without redrawing?
Arrow indicator robots combine several filters at once, so the entry market points are displayed with arrows on the graph. As we have already said, the most valuable indicators are those that display signals without redrawing, and most of them are in this group.
The fact is that experienced traders try to work only with stable trade robots or not to work at all - that's why the arrow indicators are so popular. Their distinct difference is that the signal is not redrawn during the trading. That means, if the arrow appeared on the graph, it would not change, and the trader can be confident in his actions, regarding such a signal. Seeing the red arrow under the candle, you can safely sell, seeing the green or blue arrow upon the candle - to buy.
Many currency exchange specialists have proved the accuracy and clarity of such indicators. No-redrawing Forex indicators can give signals with the least errors. Also, a trader can learn the history of the instrument signals, and to evaluate its value and effectiveness for its trading strategy.
Arrow indicators are not adjustable to the time frame, unlike the redrawing robots. Programs with changing hints can give signals more slowly, and after a while, they change, depending on the price movements in the market. It negatively affects the results of the transaction, which the trader could open after the first false signal.
Having the signal received, the trader will hurry to open the deal, thinking that it will be profitable. When the clue changes to the opposite or even disappear, the trader risks losing money. In this case, there will be no false signal in the graph history, and a trader won't receive a strong impression of this instrument, testing the indicator on the previous quotes.
The mechanism of the arrow robots use
Using the arrow indicators, a trader can be confident in his trading. By the way, it's effortless to read the signals of such robots.
If you see an up arrow on the graph, then you need to open a buy order. When the arrow points down, the order should be closed. Analyzing the situation, you can put an order for sale.
Testing an arrow robot is necessary. Of course, these indicators are prevalent, and there are a lot of strategies based on them. But all the traders perceive information individually, and they build their strategy depending on that. Due to the enormous number of the arrow indicators, they can be used in pairs, applied on different time frames, vary, depending on financial instruments traded.
Also, it's good to remember that this trading robot type works well in trend, but badly in flat, so it's recommended to use with the period above M30 and to combine it with other indicators.
To get acquainted with the full list of technical tools, as well as to find instructions on the robots integration into the trading terminal, you can download the arrow indicators for free on the MTD website.