Given by the name one could think this indicator uses candle patterns or other non-lagging methods to predict trends. However, this is not true, this is a combo indicator for the trend following strategies using Price Action methodology. It is developed for the MetaTrader 4 client by Boris Armenteros from Spain, as the leader of the Barmenteros team. This team has some trading and coding experience having at least 15 products released on the MQL5 market. Advanced Price Movement Predictor is initially published in January 2014, however, it is not updated frequently.
The latest update was in September 2014 having a few minor fixes and alert additions. Note that this does not mean the product has lost support, the Comments section shows the latest activity in 2019 and the team has published ForexFactory thread for this indicator. This is a paid indicator with multiple formulas incorporated making it almost a complete trading system.
The service’s overview page does not tell much about the indicator formulas, it is mostly made as a guide for the less knowledgeable, with mild marketing elements. Shortly put, the author describes it as a short-term price movement analysis tool based on advanced math. By looking at the features list we have noted some key points. Support and Resistance levels are heavily used and that the indicator is self-adjusting making it universal for any timeframe and market. Again, the author is using vague descriptions highlighting complex calculations, advanced math, statistics, and probabilities.
The result users will see is simple. The indicator’s info panel will display if the trend is Up, Down or Flat. Therefore, even this is not highlighted in the Overview page, flat markets are detected also and, of course, useful for trend-following traders as these market conditions are unfavorable for them. Another feature of APMP is the automatic chart recognition of the Support and Resistance levels. These levels are displayed on the indicator panel also using the higher timeframes. If these levels overlap, the indicator will see it as the congestion point and more reliable level.
It is also possible APMP uses the Fibonacci levels as it is one of the most popular Price Action indicators. Stop Loss level can be placed in between the Support or Resistance points, as the author suggests, or in our opinion, another indicator should be used for this purpose, such as the ATR. A trailing stop is also one of the options for the trade exit. APMP is not designed to indicate the trade exit, so additional indicators should be added to the system. The info panel will display designated colored boxes for each timeframe, signaling the trader if there are any trends there. Traders can decide and create their own rules for entry or exit based on this.
Some users report that the indicator may use a linear regression method for trends among others. Since the linear regression channel can be extrapolated to show the estimated or predicted price movement domain, this may be the reason for the indicator name. However, the indicator can be measured in the MT4 tester, just note that the results do not account for the Support and Resistance levels. Doing this manually can also be a problem given the fact these levels are drawn in real-time and updated without a stamp on the chart. On the other hand, this indicator is EA friendly, so a part of his functionality can be tested if it is integrated into the EA.
Advanced Price Movement Predictor Pro Edition price is $50 and provided with 5 activations. Interestingly, on the developer team website,m this indicator is $60 with several other versions for $45. They are all also available for the MT5 platform. Some features for this cheaper version are excluded such as “Intelligent finding of congestion zones”, “Price movement prediction of ALL timeframes” and similar. There is no possibility to rent this indicator and the demo should be downloaded for the barmenteros.com website instead of the MQL5.
User ratings show an average score of 3.8 stars based on 8 reviews. This is not great although we could not find any helpful bad review except one from Haki1215: “not good to use, I just use MACD Stoch ADX MA to trade much better.” APMP popularity is not low considering more than 140 comments left, however, user reviews are not good enough to boost it to stage. This is probably a great indicator for beginner trend following traders since sideways filter is integrated with the rest of fundamental factors. Experienced traders usually avoid such indicators where exact formulas are not disclosed.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/2732