Gambino Arrow Indicator ReadMe

Description

The Gambino Arrow Indicator is a trading tool developed by the Forex Robot Easy Team. It is designed to identify mid-week market structure reversals and generate signals based on the dominant weekly trend.

This indicator calculates the dominant weekly trend by analyzing the high and low prices of the previous week. It then compares the current closing price to the weekly range, multiplied by the user-defined RiseFallLevel parameter. If the closing price is above the upper threshold, it indicates an upward trend. If the closing price is below the lower threshold, it indicates a downward trend. If the closing price is within the thresholds, it indicates a sideways trend.

When a mid-week reversal occurs, the indicator generates a signal in the form of an arrow. Up arrows indicate an upward trend, down arrows indicate a downward trend, and no arrow indicates a sideways trend.

Input Parameters

• RiseFallLevel: Number of levels of rise or fall before a reversal can occur. Default value is 3.

Installation

To use the Gambino Arrow Indicator, follow these steps:

1. Download the indicator file.
2. Open your MetaTrader platform.
3. Go to 'File' > 'Open Data Folder'.
4. Open the 'MQL4' folder.
5. Open the 'Indicators' folder.
6. Copy the downloaded indicator file into the 'Indicators' folder.
7. Restart your MetaTrader platform.
8. The Gambino Arrow Indicator should now be available in the list of indicators.

Usage

1. Open a chart of the desired currency pair or financial instrument.
2. Drag and drop the Gambino Arrow Indicator onto the chart.
3. Customize the input parameters, if desired.
4. The indicator will automatically generate signals in the form of arrows when mid-week reversals occur.
5. Use these signals to make trading decisions.

Disclaimer

This code is provided as a sample and is not the official product of Forex Robot Easy. We only showcase the code that can work as described in their product. To find the official developer of this product, please refer to the MQL5 website.

For Detailed Reviews and Trading Results

For detailed reviews and trading results of the Gambino Arrow Indicator, please visit Forex Robot Easy - Gambino Arrow Indicator Review.