If you're looking to enhance your trading strategy, the Without Shadow Arrow indicator for MetaTrader 5 is a must-try. This nifty tool identifies bars that lack one or two wicks, utilizing the DRAW_ARROW drawing style to make things visually clear.
The indicator operates with two buffers: the first one signals when there's no upper wick, while the second indicates the absence of a lower wick. Both styles use the same label (the Symbol code to draw Shadow parameter) but come in different colors for easy differentiation. If you’re curious about the label codes, check these resources:
- MetaEditor - MQL5 Reference: just search for "Wingdings".
- Or head over to this handy Wingdings page on the website.
Additionally, you can adjust the label shift using the Arrow shift parameter to fit your trading layout perfectly.
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