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HighLow Arrow is simply an indicator that indicates the main lows and highs on the chart.

This indicator is not intended for use in trading. It’s just a visual assistant that allows you to have a clean chart and see the price action.

HighLow Arrow is used by traders who use the Micro Trend System (https://www.mql5.com/ru/market/product/20589).

In this case, the HighLow Arrow indicator signals that a new high or low is being formed, and that you can prepare to search for new signals using the Micro Trend System.

The HighLow Arrow indicator has several input parameters:

  • MaxBars: number of bars to calculate the indicator
  • symbolarrow: Select the symbol that will be used to display the arrows
  • arrowcodeup: Character code of the Windings font to display the up arrow (select _custom in the symbolarrow parameter to use this character code)
  • arrowcodedown: The character code of the Windings font to display the down arrow (select _custom in the symbolarrow parameter to use this character code)
  • Distance: the distance between the arrow and the candle

The HighLow Arrow indicator can be used on any timeframe with any assets: Forex, binary options, commodities, indices, stocks, futures.

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Published

27 January 2017

Updated

31 July 2020

Current Version

1.30

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rainwalker123 January 19, 2021 12:59 pm
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I did a few trades, and what I can say so far is, he caches tops and bottoms nearly perfekt. Used with EMAS and ADX this is a great help in trading.

Also very good for scalping in the 1Minute timeframe