Trend Arrows draws support/resistance lines as colored dots on a price chart.
The symbol average price on a certain amount of data is used to calculate the indicator values.
In case of a downward trend, the indicator draws only a resistance line (red dots), while in case of an upward trend, it plots only a support line (blue dots). If a symbol price approaches support/resistance level and does not break it through at the current bar, this is used as a buy/sell signal.
An order is confirmed by the next dot, which either supports the current trend or signals the upcoming changes.
Trend Dashboard Indicator - indicator MetaTrader 5 Trend Dashboard Indicator MetaTrader 5 indicator — a multi-timeframe indicator that is based on three standard indicators: Stochastic oscillator, RSI…
