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Indicator: KT-Momentum-Arrows_fix.ex4 (Unlocked MT4 Build 1431+), NO MANUAL.
KT Momentum Arrows Indicator Overview
The KT Momentum Arrows Indicator is designed to detect momentary breakouts by analyzing the deviation of price bands and emerging volatility. This tool helps traders identify strong momentum movements, providing accurate buy and sell signals based on price action relative to the calculated bands.
How It Works:
Buy Signal: Generated when the price closes above the upper band.
Sell Signal: Triggered when the price closes below the lower band.
A magnitude coefficient is used as an input that impacts both the band deviation and volatility measurements. This coefficient must be carefully selected for each instrument and time frame to achieve optimal performance.
Key Features:
No Repaint: Signals are reliable and do not change after being formed.
Ideal for Momentum Traders: Excellent tool for capturing quick price movements.
Performance Analysis: Includes statistics like Win/Loss rate, Success rate, Average Profit, etc., to analyze the effectiveness of trades.
Versatile for Different Traders: Suitable for day traders, swing traders, and scalpers.
Input Parameters:
History Bars: Specifies the number of historical bars used for calculation.
Magnitude Coefficient: Adjusts the band deviation and volatility measurement.
Performance Analysis: Option to display or hide the performance analysis, including profit trend lines.
Alert Settings: Allows you to set pop-up, email, push notifications, and sound alerts to stay updated on signals.
The remaining input settings are self-explanatory for ease of customization.
This indicator offers a robust method for identifying momentum breakouts, making it a valuable tool for traders aiming to capitalize on strong market moves.
// EA Developers: Declare variables to store signal values
double Buy_Signal;
double Sell_Signal;
double Upper_Band;
double Lower_Band;
// Get values from the KT Momentum Arrows custom indicator
Buy_Signal = iCustom(NULL, 0, “KT Momentum Arrows”, 0, 1); // Buy signal
Sell_Signal = iCustom(NULL, 0, “KT Momentum Arrows”, 1, 1); // Sell signal
Upper_Band = iCustom(NULL, 0, “KT Momentum Arrows”, 2, 1); // Upper band
Lower_Band = iCustom(NULL, 0, “KT Momentum Arrows”, 3, 1); // Lower band
// Detecting the buy/sell signals
if (Buy_Signal != 0)
{
// Execute logic for buy condition
// Example: Place buy order
// OrderSend(…);
}
if (Sell_Signal != 0)
{
// Execute logic for sell condition
// Example: Place sell order
// OrderSend(…);
}
