✨ “Super Signals V7” — Spot the Peaks. Catch the Moves. ✨

A simple, efficient, and visual indicator for detecting local highs and lows directly on your MetaTrader 4 chart.

🔍 Overview

"Super Signals V7" is a minimalist yet effective custom indicator developed by R.KH to identify and mark key reversal points — specifically local highs and lows — on the price chart. It draws arrows exactly at swing points where potential price reversals may occur, helping traders visually recognize trade opportunities in any market condition.

🧠 How It Works

The indicator scans past bars to locate local peaks (highs) and valleys (lows) based on a fixed range window (dist = 24). Here's how it works:

For every bar:

If it's the highest in its neighborhood → draw a down arrow (potential sell)

If it's the lowest in its neighborhood → draw an up arrow (potential buy)

Arrows are offset slightly above or below the candle to keep the chart clean using SignalGap.

This pattern recognition is similar to classic ZigZag-style turning points but with direct arrow signals.

⚙️ Input Parameters

ParameterTypeDefaultDescription

SignalGapint5Distance (in points) above/below price for arrow positioning

Note:

Although dist = 24 is hardcoded and not an input, it controls the range used to detect highs/lows. You can modify it manually in the code for broader or narrower detection windows.

📈 Visual Representation

Gold Down Arrow (code 233) = Local High Detected → Potential Sell Signal

Gold Up Arrow (code 234) = Local Low Detected → Potential Buy Signal

Arrows appear above or below bars with a slight vertical gap (SignalGap)

These signals help you quickly spot areas where price may reverse or consolidate.

🔄 Execution Flow

Initialization (init()):

Sets up 2 buffers (b1, b2) for arrows

Configures style, color, and arrow codes

Runtime Logic (start()):

Iterates through historical bars (from newest to oldest)

Finds:

hhb (highest high bar) within range

llb (lowest low bar) within range

If current bar index matches the high or low bar:

Sets buffer values to trigger arrow drawing

Arrows are drawn in real-time as new highs or lows form

✅ Advantages

Easy to use and understand

No lag — works in real-time with current data

Helps traders identify potential reversal zones

Works across all timeframes and symbols

Lightweight and does not slow down MT4

⚠️ Limitations

No built-in alerts (can be added)

Does not filter signals by trend, volume, or confirmation

Might repaint if used on very low timeframes

👨‍💻 Developer & Source

Developer: R.KH

Indicator Name: Super Signals V7

Version: 2025

Website: www.robomql.com