Momentum Arrows

This indicator will paint a blue arrow (for Longs) if the close of the candlestick is at or above the 25% of its range and if the candlestick is in an uptrend (define as the price being above an SMA filter).  The opposite is true for shorts (red arrow).


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This indicator will paint a blue arrow (for Longs) if the close of the candlestick is at or above the 25% of its range and if the candlestick is in an uptrend (define as the price being above an SMA filter).  The opposite is true for shorts (red arrow).

This is a great indicator to spot candlesticks that are pushing towards the main trend,  creating "Momentum" for the following candlesticks to continue such trend.   A buy or sell opportunity will exist if the following candlestick after the arrow is painted crosses above (longs) or below (shorts) of the candlestick where the arrow is located. 

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