Combining RSI, Moving Averages, Bollinger Bands, and Price Extremes for Signals
Summary
The Super Arrow indicator combines several technical conditions to display upward and downward arrows on a price chart. Its described inputs include a fast and slow moving average, RSI, Bollinger Bands, and Bulls Power and Bears Power measures. It also examines recent highs and lows as a filter intended to distinguish breakout-type signals. Indicator settings can be adjusted, and signals are shown across historical bars as well as in real time.
The document includes ProRealTime code, but it supplies no rules for entries, exits, position sizing, or risk management and reports no backtest or live performance. Some code details appear inconsistent or unclear, including the use of a highest-value calculation for the low series and state variables whose initialization is not explained. The arrows should therefore be treated as technical alerts requiring code validation and independent testing, not as evidence of a profitable trading system.
Key ideas
- The indicator combines moving-average, RSI, Bollinger Band, and Bulls Power and Bears Power conditions.
- It uses recent price extremes as a filter for signal direction and breakout character.
- Adjustable settings control the component indicators, and arrows mark signals on charts.
- The document reports no performance evidence and leaves trade management unspecified.
- Several implementation details merit validation before the signals are used.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.