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Indicator: M1 GOLD ARROW _1420.ex4 (Unlocked MT4 Build 1420+), NO MANUAL.
M1 Gold Indicator — Max Payne System for XAUUSD (Gold)
Description:
M1 Gold is a powerful arrow-type indicator designed specifically for trading the XAUUSD pair on the M1 (1-minute) timeframe. Built on the Max Payne system, this indicator combines two custom arrow signals with a trend filter to provide precise entry points without repainting or back painting.
Key Features:
Non-Repainting Arrows: Reliable entry signals based on two merged custom indicators.
Trend Filter: Confirms general market direction for higher accuracy.
Backtesting Panel: Saves time by displaying essential performance metrics such as win rate, number of winning/losing trades, and total pips gained. You can adjust the number of history bars to extend backtesting further.
Multi-Timeframe Use: Designed for M1 charts but can be adapted to Renko or other timeframes with custom TP/SL settings.
Alerts: Includes customizable alerts to notify you of trade signals.
Recommended Settings:
Use a raw spread account for best performance.
Use primarily on M1 charts.
Parameters:
History: Number of past signals to display.
Signal Period & Filter: Controls entry arrow sensitivity.
Confirmation Arrow Settings: Separate signal and filter parameters for confirmation arrows.
Trend Filter: Sets general trend direction for signal validation.
General Settings: Take Profit (TP) and Stop Loss (SL) values in points.
Customizable colors and position of the backtesting panel for convenience.
