Rossi Campos Arrows Indicator (MT5) — review, price and free alternatives

The author, Heber Henrique Penow Campos, implemented a dual-filter approach that combines Bollinger Bands to detect volatility regimes and RSI to confirm momentum. The indicator displays a green arrow for buy opportunities and a red arrow for sell setups, reducing subjective interpretation on MT5 charts. Rossi Campos Arrows Indicator stands out because it integrates two well-understood technical filters into a single, tunable algorithm with clear entry and exit logic. The internal algorithm calculates volatility compression using Bollinger Band squeeze thresholds and then applies RSI divergence checks to avoid buying into weakening momentum. Signals that meet both filters are highlighted and accompanied by optional take-profit and stop-loss recommendations based on band width and recent ATR values. In testing, the indicator handled trending and range-bound markets differently; it performs best in directional market moves where RSI confirms momentum and Bollinger Bands expand, while produces lower-quality signals during low-volume, choppy sessions. Risk management is built into recommended settings rather than automated position sizing, so traders must apply account-specific stop loss and leverage rules. Expected performance characteristics include moderate win rates with small-to-moderate average gains per winning trade, and occasional clustered losses during high-volatility news events. Overall, Rossi Campos Arrows Indicator offers transparent rules, simple MT5 integration, and practical outputs for traders who prefer data-driven signal generation.

The Rossi Campos Arrows Indicator carries a moderate risk profile. It is neither ultra-conservative nor outright aggressive; the strategy assumes disciplined stops and position sizing. Recommended stop loss strategy uses ATR- or Bollinger-band-based stops that adapt to current volatility, limiting tail risk. Position sizing should be percentage-based, such as 0.5% to 2% of account equity per trade depending on risk tolerance and correlation between positions. Vulnerabilities include exposure to prolonged choppy conditions and major economic releases that can trigger whipsaws. For conservative use, a recommended account size is at least $2,000 to $5,000 on retail brokers with competitive spreads to allow reasonable position sizes and risk control.

Install the indicator file into the MT5 Indicators folder and restart MetaTrader 5. Attach Rossi Campos Arrows Indicator to your chosen chart timeframe, then enable live signals and alerts if desired. Configure key parameters such as Bollinger period, RSI period, squeeze threshold, and signal sensitivity to match your trading style. Recommended broker types are low-spread forex brokers or ECN accounts with reliable execution. Optimal chart timeframes are 1H and 4H for a balance of signal frequency and noise reduction. Test settings with a forward test on a demo account for at least 60 trading days before live deployment and review drawdown statistics.