The Super Arrow binary options indicator is probably one of the most controversial. Traders still debate its usefulness in real trading. Some manage to make money despite the signals repainting. Nevertheless, its "perfect" arrow signals continue to attract beginners. In this review, we'll examine how this tool works and explore its potential uses in binary options trading.
Contents:
- Key Features
- Installation
- Overview and Settings
- Trading Rules
- Opening a Call Option
- Opening a Put Option
- Conclusion
Key Features of the Super Arrow Indicator
- Terminal: MetaTrader 4
- Timeframe: M5
- Expiration: 1 candle
- Option Types: Call/Put
- Indicators: super-arrow-indicator.ex4
- Trading instruments: currency pairs, commodities, cryptocurrencies, stocks
- Trading hours: 08:00–21:00 UTC
- Recommended brokers: Quotex, Pocket Option, Binarium
Installing the Super Arrow Binary Options Indicator
The Super Arrow indicator is installed using the standard procedure for the MetaTrader 4 platform. To do this, add it to the terminal's root folder by selecting "File" in MetaTrader 4, then "Open Data Folder." In the folder that opens, navigate to "MQL4," then "Indicators," and move all files there. Templates are installed in the same way, but are placed in the "Templates" folder instead. For more detailed installation instructions, watch our video:
Super Arrow Indicator: Overview and Settings
At first glance, the Super Arrow appears to be the perfect arrow indicator. Its trading signals seem to pinpoint future price reversals with precision — sometimes it even appears to predict the market. See for yourself.
Notice how accurately the Super Arrow indicator's arrows mark trading signals on the EURUSD chart. But to understand how it works, you first need to understand its settings.
As shown in the image above, Super Arrow generates arrow signals based on several indicators: fast and slow moving averages, RSI, a Magic filter, Bollinger Bands, and the Bulls and Bears Power indicator.
Green arrows appear when there is a divergence between the fast and slow moving averages, RSI bounces off overbought or oversold levels, the Magic filter reads >= 0, and the candle closes below the lower Bollinger Band. The conditions are reversed for red arrows.
It might seem straightforward: wait for an arrow and open a Call or Put in the indicated direction. However, a closer look at the code reveals that Super Arrow modifies its signals by looking ahead during calculation. In other words, the indicator behaves as though the future is already known.
The code checks signal conditions not only on the current bar N, but also on the next bar N+1, which does not yet exist at the time the signal is generated. In live trading, such a signal may appear only after one candle — or disappear entirely if the condition is not confirmed. This is the defining characteristic of a "history painter": it draws clean-looking arrows retroactively.
As a result, the original version of the indicator is not suitable for live trading. To demonstrate this, we corrected the errors in the code and observed how the trading signals changed afterward.
As you can see, after correcting the code, trading signals became noticeably fewer. What's more, they began appearing at points where trades in the opposite direction should actually be opened. We reviewed the indicator's logic — there are no errors in the corrected code, meaning these are exactly the signals a trader would see when attempting to trade with this indicator in real time.
So let's apply these signals and see what happens.
The result was quite satisfactory. While the arrows may no longer look as "perfect" as in the original version, they no longer repaint and are genuinely suitable for trading — both binary options and Forex.
Trading Rules for the Super Arrow Indicator
With all the code corrections and refinements in place, it's time to cover the trading rules. Like most arrow indicators, they are as straightforward as possible. If you're interested in which tools genuinely don't repaint their signals, we recommend checking out our articles on the topic.
- 3 Best Non-Repainting Indicators
- The Best Indicators Without Repainting
Opening a Call Option
- Wait for a green arrow to appear below the candle.
- At the open of the next candle, buy a Call option.
Opening a Put Option
- Wait for a red arrow to appear above the candle.
- At the open of the next candle, buy a Put option.
We recommend setting the expiration time to five candles. However, the optimal holding period depends on the specific asset and should be determined through historical data testing. This approach will help you tailor the strategy to the characteristics of your chosen instrument and improve overall performance.
How to Get the Most Out of the Super Arrow Indicator
To increase the percentage of profitable trades, you can apply a well-established method: only opening trades in the direction of the higher timeframe trend. This approach has proven effective repeatedly and works well with Super Arrow signals.
For example, trades based on arrows on the M5 timeframe should only be opened in the direction of the M30 trend. If you're unsure how to identify trends, the article "Best Trend Indicators for Binary Options" will help.
Advantages of the Super Arrow Indicator
The main advantages of this indicator are its simplicity and clear trading signals. Traders don't need to analyze multiple technical indicators or perform technical analysis independently, as Super Arrow already incorporates several standard tools when generating arrows: moving averages, RSI, Bollinger Bands, and the Bulls and Bears Power indicator.
Disadvantages of the Super Arrow Indicator
The main drawback of arrow indicators is repainting — the ability to cancel a previously generated signal — which renders most such tools practically useless in live trading. The greatest risk is that a repainting indicator may show excellent results in backtesting but fail in real market conditions.
We addressed this flaw in the Super Arrow. Its signals are now less visually polished, but significantly more reliable.
Conclusion
In its original form, the Super Arrow binary options indicator is entirely unsuitable for live trading. It is essentially a marketing gimmick by unscrupulous developers who chose to profit from selling misleading trading signals that bear no relation to real market behavior.
After modifying the indicator's code, we were able to eliminate its core flaw — repainting — and produce a less visually impressive but genuinely functional arrow indicator.
Before using Super Arrow in live binary options trading, be sure to practice on a demo account with a reliable broker. Take the time to understand how the indicator behaves before moving to live trades, and always apply sound risk and money management principles. Happy trading!
Download the Super Arrow Binary Options Indicator
To leave a comment, you must register or log in to your account.