BB Alert Arrows is one of the simplest forex trading indicators you may have ever experienced. In order to trade using BB Alert Arrows, all you need to do is, simply follow the direction of the arrows and activate the trade entries according to the pointed directions. Such simplicity of its application offers a great advantage to the newbie traders who struggle with the complexity of indicators or trading systems.
BB Alert Arrows is a scalping indicator thus works great with the shorter timeframe charts like M5 & M15 but this indicator can be fit to trade any currency pair you like around the market.
BB Alert Arrows Overview
After the installation of BB Alert Arrows at the MT4 terminal, your trading chart will appear like the following image:
BB Alert Arrows Anatomy
BB Alert Arrows stresses more on defining the highs and lows of the market and lets traders to buy from the bottom and sell from the high of the market momentums. Such kind of trading approach enables traders to maximize the profit margins compared to the risk involved with each of their trade entry. An uppish arrow below the price bar is the buy signal and a downward arrow above the price bar represents the sell signal at the market. This indicator has been designed for frequent trading purposes and emphasizes to achieve better winning ratios.
Also Read: Grail Indicator
BB Alert Arrows: Buy Parameters
- This Indicator appears below a bullish bar
- Buy triggers when the respective bar’s high is broken by the following price candles
- Set stop loss below the respective signaling bar’s low
- Exit long/take profit whenever the indicator plots a downward arrow above the price bars
BB Alert Arrows: Sell Parameters
- This Indicator appears above a bearish bar
- Sell triggers when the respective bar’s low is broken by the following price candles
- Set stop loss above the respective signaling bar’s high
- Exit short/take profit whenever the indicator plots an upward arrow below the price bars