Get this indicator here (.mq4)
These arrows provide early signs of price exhaustion after a strong run. After a strong bullish run up, red downward arrows provide early signs of bulls exhaustion. Conversely, after a strong bearish run, blue upward arrows provide early signs of bears exhaustion.
From the name of the indicator, we deduce that the cluster of arrows indicate price exhaustion through overbought (red arrows) and oversold (blue arrows) regions.
While we do not find this indicator helpful for entering trades, they do provide price action information which is helpful when we are already in the trade – telling us prices are going to consolidate in the near term.
Please comment below and let us know what other indicators can work together with this one.
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