KT Momentum Arrows Indicator is based on a momentary breakout which is calculated using the bands deviation and emerging volatility in a certain direction.

A buy signal is generated when the price close above the upper band and a sell signal is generated when the price close below the lower band.

A magnitude coefficient is used as the input which affects the band deviation and volatility at the same time. The coefficient value should be carefully selected and analyzed based on the instrument and time frame.

MT5 version of the same indicator is available here KT Momentum Arrows MT5

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