DislikedThank you for taking the time to make a comment acetrader, after your comment I checked it and I guess the RSI is the main indicator to paint the arrow right away and the MAs are used for confirmation? Because looking at the chart there are candles where the crossover is not confirmed but the rsi is below/above 50. In the picture below the first signal (sell) was show even though the EMAs (5 and 21 as standard values) are not yet crossed. {image} Using it on live market data I witnessed that on one closed candle A signal was triggered and some hours...Ignored
I'm not a coder so not sure I can explain what the indicator is doing. Unless the indicator is designed to repaint the signals it should leave the arrow in place once the candle has closed. That is my understanding of the function of a non-repainting indicator. I only use three standard MT4 indicators & two are those are being used with far different settings that the standard settings. I only really need one of the three. A coder could probably figure out what's happening with this indicator if you can get one to take a look. I looked at the code you posted & I am unable to see a cause for what it is doing.
When I look at the 200 EMA & 50 EMA with the RSI, the signals are fairly compelling, but as you know the EMA's lag a bit. As is the Arrows are warning you 4 to 6 candles ahead of the EMA crossings. My advice get a coder to take a look & render their view as to what is occurring. If the indicator can be retooled so as not to repaint, then you have a good indicator. Wish I could offer more help. This is not my way of trading, but I will always take a look at what others are sharing. I'm interested in what you discover & will continue to follow your results.
Best of trades to you my friend.