@csricksdds, Thank you for sharing this setup! Could you kindly point out which all indicators in this shared chart contribute to the color changing arrow line and the long / short label signals. I can try but fear of not including the correct ones takes over!
Thank you for your question...the first thing that comes to mind is a shortened verse from the good book that says "all things work together for good...."
Any indicator by itself should be listed as a "heads up" for a possible change in direction. No indicator by itself is the holy grail. I'm always looking for indications that the trading path might change direction...sometimes the path is very short and sometimes much longer. Are the red/green arrows above/below the white line 20 EMA. Look for crossovers. How many of my upper labels are in agreement? Are we moving away from, or towards the VWAP (Volume Weighted Average Price).
Are we above/below the PSAR (this would have shown candle change in direction if we were using candles). It is the overall movement we're looking for and each of the indicators is looking at change in direction from a little different perspective. It's like getting input from several individuals before making a major decision. I want a batting average of around 90+% with lots of singles, doubles and an occasional home run. Any profit that is better than what your bank pays is successful!
When I was first learning to drive my focus was over the hood looking at the pavement right in front of the car. My dad said "raise your eyes son, and look further down the road" so you can get a better picture of what is overall taking place. Look at all the signs (indicators) and the traffic flow. Stay in tune with your surroundings. The indicators working together make up your surroundings and the more you drive (trade) the easier the journey?