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Market Profile Singles Indicator Review

Today we will examine the Market Profile Singles Indicator (we could also call it a single print indicator or gap indicator), which is available on the mql5.com market in metatrader4 and metatrader5 versions.

The developer of this indicator is Tomas Papp, who is located in Slovakia, and currently has 7 products available on the MQL5 market.

It is fair to point out that four of his products are completely FREE and are in a full-working version. These are: Close partially, Close partially MT5, Display Spread meter, Display Spread meter MT5. So it’s definitely worth a try.

Overview of the Market Profile Singles 

This indicator is based on market profile theory. It was designed to show “singles areas.” But, what exactly is a singles area?

Theory of the Market Profile Singles

Singles, or single prints, or gaps of the profile are placed inside a profile structure, not at the upper or lower edge. They are represented with single TPOs printed on the Market profile. Singles draw our attention to places where the price moved very fast (impulse movements). They leave low-volume nodes with liquidity gaps and, therefore, the market imbalance. Thus, Singles show us an area of imbalance. Singles are usually created when the market reacts to unexpected news. These reports can generate extreme imbalances and prepare the spawn for the extreme emotional reactions of buyers and sellers.

The market will usually revisit this area to examine as these price levels are attractive for forex traders, as support or resistance zones. Why should these traders be there? Because the market literally flew through the area, and only a small number of traders got a chance to trade there. For this reason, these areas are likely to be filled in the future.

The author also adds: “These inefficient moves tend to get filled, and we can seek trading opportunities once they get filled, or we can also enter before they get filled and use these single prints as targets.”

The author points out: Used as support/resistance zones, but be careful not always. Usually, it works very well on trendy days. See market profile days: trend day (Strategy 1 – BUY – third picture) and trend day with double distribution (Strategy 1 – SELL- third picture).

Practical use of the Market Profile Singles Indicator

So let’s imagine the strategies that the author himself recommends. Of course, it’s up to you whether you use these strategies or whether you trade other strategies for the singles area. Here we will review the following ones:

  • Strategy 1: The trend is your friend
  • Strategy 2: Test the nearest level
  • Strategy3: Close singles and continuing the trend

The author comments that these three strategies are common and repeated in the market, so it is profitable to trade them all.

The recommended time frame is M30, especially when using Strategy 2.

It is good to start the trend day and increase the profit, but be aware that trendy days happen only 15 – 20% of the time. Therefore, the author recommends mainly strategy 2, which is precise 75-80% of the time.

 

Strategy 1 – BUY :

  1. A bullish trend has begun.
  2. The singles area has been created.
  3. The prize moves sideways and stays above the singles area.
  4. We buy above the singles area and place the stop loss under the singles area.
  5. We place the profit target either according to the nearest market profile POC or resistance or under the nearest singles area. We try to keep this trade as long as possible because there is a high probability that the trend will continue for more days.

Strategy 1 – SELL :

  1. The bear trend has begun.
  2. The singles area has been created.
  3. The prize goes to the side and stays under the singles area.
  4. We sell below the singles area and place the stop loss above the singles area.
  5. We will place the target profit either according to the nearest market profile POC or support or above the nearest singles area. We try to keep this trade as long as possible because there is a high probability that the trend will continue for more days.

 

Before we start with Strategy 2, let’s explain the Initial Balance(IB) concept. IB is the price range of (usually) of the first two 30-minute bars of the session of the Market Profile. Therefore, Initial Balance may help define the context for the trading day.

The IBH (Initial Balance High) is also seen as an area of resistance, and the IBL (Initial Balance Low) as an area of support until it is broken.

Strategy 2 – one day – BUY:

This strategy will take place on a given day.

  1. There is a singles area near IB. (a singles area was created on a given day)
  2. The price goes sideways or creates a V-shape
  3. We expect to return to the singles area or IB. We buy low and place the stop loss below the daily low (preferably a little lower) and place the target profit below the IBL (preferably a little lower).

 

Strategy 2 – one day – SELL:

This strategy will take place on a given day.

  1. There is a singles area near IB. (a singles area was created on a given day)
  2. The price goes sideways or creates a reversed font V
  3. We expect to return to the singles area or IB. We sell high and place the stop loss above the daily high (preferably a little higher) and place the target profit above the IBH (preferably a little higher).

 

Strategy 2- more days- BUY:

This strategy takes more than one day to complete (Singles were created one or more days ago)

  1. After the trend, the price goes sideways and does not create a new low (or only minimal but with big problems)
  2. Nearby is a singles area (Since the price cannot go to one side, there is a high probability that these singles will close).
  3. We buy at a low, placing a stop-loss order a bit lower. We will place the target profile under the singles area.

 

Strategy 2- more days- SELL:

This strategy takes longer than one day (Singles were created one or more days ago)

  1. After the trend, the price goes to the side and does not create a new high (or only minimal but with big problems)
  2. Nearby is a singles area ( Since the price cannot go to one side, there is a high probability that these singles will close ).
  3. We sell at a high, and we place a stop-loss a bit higher. We will place the target profile above the singles area.

Strategy 3 – BUY:

  1. The current candle closes singles.
  2. Add a pending order above the singles area and place the stop-loss under the singles area or the candle’s low. (whichever is lower)
  3. Another candle must occur above the singles area. (If this does not happen, we will delete the pending order) .
  4. We will place the profit-target either according to the nearest market profile POC or resistance or under the nearest singles area.

 

Strategy 3 – SELL:

  1. The current candle closes singles.
  2. Add a pending order under the singles area and place the stop-loss above the singles area or candle’s high (whichever is higher).
  3. Another candle must occur under the singles area. (If this does not happen, we will delete the pending order) .
  4. We will place the profit-target either according to the nearest market profile POC or support or above the nearest singles area.

Discussion

These strategies look really interesting.  As the author himself says:

It’s not just a strategy. There is more to it in profitable trading. For me personally, they are most important when trading: Probability of profit, patience, quality signals with a good risk reward ratio (minimum 3: 1) and my head. I think this is the most important.

In this, we must agree with the author.

 

Service Cost

The current cost of this indicator is $50. You are also able to rent the indicator. For a one-month rental, it is $30 per month. There is also a demo version available it is always worth testing out the demos before purchasing. Though.

After purchasing the indicator, the author sends two more indicators to his customers as a gift: Market Profile Indicator and Support and Resistance Indicator.

Conclusion: There are only 2 reviews for the indicator so far, but they have 5 stars and are very positive.

For us, this indicator is interesting, and it is a big plus that the author shares his strategies. The price is also acceptable since the indicator costs 50 USD = 5 copies (10-USD / 1 piece), and since the author sends another 2 indicators as a gift, this price is really worthwhile.

The author added:

By studying the market profile and monitoring the market, I came up with an indicator and strategies we would like to present to you. Here you can try it for free :

 

MT4: https://www.mql5.com/en/market/product/52715

MT5: https://www.mql5.com/en/market/product/53385

 

And here you can watch the video:

 

 

Also, a complete description of the strategies and all the pictures can be seen HERE :

Other completely free of charge tools:

https://www.mql5.com/en/users/tomo007/seller#products

 

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Dodger FX Expert Advisor Review

Dodger is currently located within the Experts section of the MQL5 marketplace, it was developed by Aleksandr Kudria and uploaded to the marketplace on the 15th of March 2020, it received an update on the 11th of April 2020 which brought the software up to version 2.0.

Overview

Dodger is an expert advisor that was created for the MetaTrader 4 trading platform, the EA was created for use with the EURUSD currency pair and will use the H4 timeframe. The EA works 24 hours a day and is fully automated, so no user input is needed once it has been set up. The entry positions for the EA are determined from the analysis fro various indicators, these are the TMA (triangular moving averages),

The EA does not use grid systems or the martingale strategy which is good as these are both very risky strategies that regularly cause people to blow their accounts. It is also advised that you use a VPOS to host your trading client to allow for 24/7 trading with no potential downtime. The EA will also work with both4 and 5 digit brokers. The take profits and stop losses used by the EA are hidden from the broker to avoid any dodgy behaviour.

In terms of parameters, there are a few available to toggle, these will slightly alter the way that the Ea functions. Some of the parameters include the visual mode, magic numbers, the lot size for manual mode, the mode to use to calculate the lot sizes, options for the TMA signals 1,2, and 3, and some more options are available too.

There is a small note at the bottom of the description that reads: “This version of the adviser contains a limitation of the parameter of number simultaneously open orders and Index AutoLotSize to reduce the maximum drawdown.” This indicates that there may be another version of this EA somewhere.

Service Cost

The Dodger EA s a very expensive one, you can purchase it with a single payment of $2,882 which will price out a lot of people who use EAs to trade, the rental option available is far more reasonable and seems to be the way that the developer wants the Ea to be used, it will cost you $30 to rent the EA for one month. Whichever way you get it, you will be able to activate the Ea up to 5 times.

There is also a free demo version, this has a lot of limitations and can only be used with the strategy tester within the MT4 platform rather than trying it out on an actual live account.

Conclusion

There are currently no reviews or rating available for the Dodger EA which make sit hard for us to judge the quality of both the Ea and the support that the developer may provide. The rental option is far more accessible, even so, we would still advise that you contact the creator with any questions so you can be sure that it will function how you need it to and that they will be around to offer you support should you require it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47283

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Hedge Forex Robot Review

The Hedge Forex Robot is a forex robot designed with hedging in mind, it was created by Forex Robot Trader which is a company that has created and designed a number of different robots.

Overview

The Hedge Forex Robot, as mentioned is designed around the concept of hedging which is all about opening additional positions to protect against adverse market movements, with this in mind, we know that the robot will be opening multiple positions at once, so you will need to keep that in mind when trading, especially if your broker requires you to follow FIFO rules.

The way the robot works is described by the creators as ”You simply load the robot on any number of currency pairs of your choice and walk away. This robot can trade an unlimited number of currencies all at the same time. The robot executes 100% of all your trading decisions (buys & sells) without any human intervention whatsoever.”

Forex Robot Trader has posted some of the results over the past few months, they certainly look impressive on paper, if we look at the past three months they have posted the following profits.

January 2020: $42,129
February 2020: $44,774
March 2020 up to 13th: $18,908

While those numbers look fantastic, we have to show our concerns, looking at the account sheet provided, they are on a 100% winning streak, with exactly 0 drawdowns throughout the month. Now for those that have traded before, you will know that these sorts of figures are not realistic, and so it looks like the numbers are being edited to suit the needs of the creator. The account shave not been linked to an independent site such as MyFXBook, so the results have not been verified.

Service Cost

The robot currently costs $89.00 at the time of writing this review this is down 55% from the original price of $199.99. While there isn’t a demo available of this exact robot, the creator company Forex Robot Trader are providing a free robot, so you are able to test out the kind of quality that you may receive.

Conclusion

The website hasn’t provided any user reviews, however, while scouring the internet we came across a few reviews there is a wide range of rating,s w have seen reviews giving it 8/10 while others have been giving it 1/5, so this does not give a very clear indication of how well the Hedge Forex Robot works. These massively mixed reviews can normally indicate an unstable robot. With the results looking a little fishy (3 months of 100% wins and no drawdown) we currently find it hard to believe the figures and results shown.

This Forex Indicator is currently available for purchase at – https://www.forexrobottrader.com/forex-robots/has-mtf-hedge-robot

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Grid King EA Review

Grid King can be found within the Experts section of the MQL5 marketplace, there may be other expert advisors with similar names, so we have provided a link below to the one that we are looking at. Grid King was uploaded by Wim Schrynemakers who is the creator, it was first uploaded on the 10th of November 2018, there have been a number of updates, the most recent update was on the 19th of March 2020 and this brought he, expert advisor, up to version 8.90.

Overview

The Grid King is an expert advisor designed to be used with MetaTrader 4, it does what its name suggests, it is a grid system expert advisor. The expert advisor has been optimized for 19 currency pairs, and its main focus was safety, the expert advisor tries to remove the margin call risk that many grid systems suffer from through a hedging strategy.

Some of the key features of this expert advisor:

  • Minimum recommended starting capital: 500$ (using cent account)
  • Very stable growth curve as a result of smart averaging techniques
  • “Safety First” approach in the development
  • Optimizable for any market
  • ONLY grid-system on the market that passes 18 years of stress-tests on historical        data on multiple pairs
  • Fully automatic
  • Not sensitive to spread, commission, or account type, but of course a low spread          ECN broker will work better and is recommended!

Optimized pairs: EURUSD, GBPUSD, USDCAD, USDCHF, USDJPY, EURJPY, GBPJPY, AUDUSD, NZDUSD, EURAUD, EURCAD, EURGBP, AUDNZD, EURCHF, AUDCAD, AUDJPY, GBPCHF, AUDCHF, CHFJPY, CADJPY, CADCHF, GBPCAD, NZDCAD, NZDJPY, NZDCHF, GBPNZD, EURNZD, GBPAUD, and XAUUSD.

You can use the same magic numbers on different pairs. But the 2 different strategies must use 2 different magic numbers. There is also a large number of parameters that can be changed, there is full documentation available around these, you should be able to optimize the expert advisor to match your exact needs.

Service Cost

The Grid King is quite an expensive expert advisor, it will currently cost you $500 to purchase, this will give you unlimited access to the expert advisor. TIf you do not want to spend that much at once, you are also able to rent it, you can rent it on a monthly basis which will cost you $250 per month, you can also rent it for three months for $350 or for six months which will cost you $450. There is also a free demo version available, this will have some limitations and we believe that it can only be used on a demo trading account.

There is also a budget lite version of this expert advisor which costs a little less but also has fewer features.

Conclusion

The Grid King has 42 reviews, the overall rating from these reviews is 4 out of 5 which is not a bad score at all.

The Grid King is about risk management Grid with Martingale EA. Noe of EA has this level of defensive system. The author is one of very few honest challenger. Be realistic and patient.“ – A 5-star review.

Been running GK since 4th April on ECN and Cent account. Decent profit, stable, really good EA. (5*) update 2019-May-27: Grid King hit 2 stop-losses with trailing TP, still in profit (but not much), stable. (5*) update 2020-Mar-18: Stopped because of too many SL for me. The account did not wipe, but I have stop using all grid strategies altogether, not just GK.” – A 2-star review.

Although I had a stop out (EURAUD) after a couple of days of use (something that can always happen) I still believe this is (to my knowledge) the only martingale EA to go with. Clear (and acceptable) stop-out levels combined with a multi-currency approach. Great support and frequent updates that makes the EA getting better and better. At this moment I run all (15) the currencies on the “very conservative “lot size step” risk factor. After a couple of months, I hope to switch to the conservative setup.” – A 5-star review.

So there is a mix of reviews, many positive ones but there are also some negative ones in there, due to the nature of the expert advisor there will be people using settings that are too risky which can cause the expert advisor to blow an account. There are a lot of comments, the creator of the expert advisor seems to be responding to them all promptly which is a positive sign. Due to the cost of the expert advisor, we would highly recommend that you download the free version, this will only be usable on a demo account but it will give you a good way to test out the expert advisor, to make sure it is safe for you and that it does actually function properly prior to making a large purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/33065

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FFx InsideBar Setup Alerter Review

FFx InsideBar Setup Alerter is found on the MQL5 marketplace, it was created by Eric Venturi-Bloxs and was first uploaded on the 26th of MNArch 2014. It has not received any further updates so the indicator is still at version 1.0.

Overview

FFx InsideBar Setup Alerter is a MetaTrader 4 indicator that has been designed to alert you to trade setups, it will also provide you with entry points, two targets for taking profits and stop losses.

The main features and settings for the indicator:

-Entry suggestion – pips to be added over the break for the entry
-Minimum candle size – to avoid too close buy/sell entry suggestions
-3 different options to calculate the SL – by pips, by ATR multiplier or at the pattern High/Low
-3 different options to calculate the 2 TPs – by pips, by ATR multiplier or at Risk/Reward
-Offset the dashboard – any place on the chart
-Remove the suggestion once the price reached the SL line
-Lines extension away from the current candle
-All colors changeable – Background, text, Buy/Sell, entry and TP/SL
-Alert when a setup is found – sound / popup / email / push notification

Service Cost

The indicator can currently be purchased for $12 so it is quite affordable, purchasing it will give you up to 5 activations, unlike many indicators on the MQL5 marketplace, there is no option to rent it.

A free demo version is available, the details of it are not known to us which often means that it can only be sued with the strategy tester within the MetaTrader 4 trading platform.

Conclusion

There are currently six user reviews, they are all very positive and have given the indicator an overall rating of 5 out of 5.

Awesome indicators….just needs to be able to show historical would be a great help.” – A 5-star review.

Paints a clear picture of an inside bar, and allows you to customize your stop loss and take profit levels. Very useful for trading inside bars.” – A 5-star review.

2 weeks at my chart and already a rate of 12/3 winning trades and making money….thank you Ferru” – A 5-star review.

So the reviews are all very positive showing that the indicator is doing what it was intended to do. There are also plenty of comments, the indicators creator has been very active in replying to the comments which are great to see and it shows that they are supporting the indicator and those that have purchase dit. Ther have not been any comments for around 10 months, so if you are thinking of purchasing it, contact the developer, this way you can make sure that they are still around top support it and you.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/3718

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Engulfing Bars Trading Indicator Review

Engulfing Bars is an indicator that can be found on the MQL5 marketplace, there may be other indicators with very similar names, due to this we have provided a link to the one we are looking at below. The indicator was first uploaded on the 8th of January 2016 by its creator Paul Geirnaerdt, there have not been any further updates so the version of this indicator is still version 1.0.

Overview

The Engulfing Bars indicator has been designed to work with the MetaTrader 4 trading platform. It works by showing Engulfing Bars on the charts, the signal will then suggest a stop loss and take profit for the trade these bars are important for price action patterns. This indicator works better when using it on higher timeframes.

There are a number of settings available that can be altered:

-Show Engulfing Bars – Set to true to show Engulfing Bars.
-Body size percentage – Minimum size of the body of the Engulfing Bar in a percentage of the moving average of body sizes, a higher value detects less but (arguably) better Engulfing Bars.
-Stoploss distance in pips – Standard stop loss is at the high or low of the Engulfing Bar, this number of pips is added to that.
-Color Palette – pick Color Palette for ‘Dark’ or ‘Light’ Backgrounds.
-Colors – you know what to do.
-Show Alerts – set to true to do alerts.
-Show Screen Alerts – set to true to show screen alerts.
-Email Alerts – set to true to email alerts.
-Push Alert Notifications – set to true to push alerts.

Service Cost

The indicator can be purchased outright for $19, there is no option to rent this one unlike many of the other indicators on the MQL5 marketplace. There is a free version available, but there is no mention of the possible limitations or time limits on the free version.

Conclusion

Just the one review available, it is giving the indicator a 5-star rating.

Very good

While there is only the one review, there are plenty of comments asking questions, the creator seems very active at replying to the comments which are a good sign for your kind of support that you would receive. Due to there only being one review available, we would very strongly suggest that you download and test out the free version, there are some unknown limitations on it, but it would give you a better idea as to how the indicator works and to ensure that you are able to get it set up and running correctly.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13882

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Dark Knight Expert Advisor Review

Dark Knight was created by Norbert Mereg and was first uploaded to the MQL5 marketplace on the 17th of April 2014. It has received a lot of updates since it was first uploaded, the most recent update was on the 2nd of December 2014 and the software is currently at version 2.44.

Overview

Dark Knight is an expert advisor for the MetaTrader 4 trading platform, it was designed to follow trends that have backtesting profitability of 99%. It is recommended to use with the EURUSD and USDCHF pairs and on the M15 timeframe, it does not require an ECN account but it is still recommended.

Some of the main features of the EA:

  • Built-in Trailing Stop with a partial closing feature.
  • Built-in Money Management.
  • Unique two-level trend filter feature.
  • Protection against a high level of spread.
  • ECN broker with 4 and 5 digits compatibility.
  • The notification could be sent upon closing a position.
  • Slippage data recording to file.
  • Full-scale, detailed logging.
  • Minimum account requirements: $100 with 1:100 (or equal currency).
  • Full backtest-compatible can be heavily optimized.
  • Non-grid system!

There are some parameters, unfortunately, the site that lists them is currently not working anymore so we do not know what they are.

Service Cost

The Dark Knight expert advisor will cost you $49 to purchase it outright with a one-off payment, this will get you up to 5 activations of the EA. There is also a rental option, this can be done monthly and will cost you $10 per month. A free demo version is also available but the limitations of it are not known and no stated on the site, so there is a possibility that it can only be used with the strategy tester within MT4.

Conclusion

There are currently 2 reviews for the Dark Knight EA, they have given it an overall rating of 3.5 out of 5.

I took it twice for rent. The adviser as for me merges more than earns. I also tried to help him with my hands but it did not work out. There is no stability. Although the idea is not bad.” – A 2-star review translated from Russian.

Very good expert advisor. Real performance exactly as backtested results. Running on Alpari (Russian)” – A 5-star review.

So a mix of reviews, however, it is hard to get the full picture with only two reviews being available. There are a few comments, all comments are from as far back as 2016 so it cannot be used as proof of support, due to them being so far back we would suggest trying to contact the developer with any queries that you have, this will enable you to check that it is still being supported and that it will work the way you need it to work before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/4019

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Advanced Dashboard for Currency Strength and Speed Review

The Advanced Dashboard for Currency Strength and Speed can be found within the indicator section of the MQL5 market, we have added a link below to this exact indicator. The indicator was uploaded by Bernhard Schweigert, its creator on the 13th of October 2017, there have been a few updates, the most recent update was on the 17th of January 2020 and this brought the indicator cup to version 1.6.

Overview

The Advanced Dashboard for Currency Strength and Speed is an indicator and dashboard for the MetaTrader 4 trading platform. It currently works on 28 currency pairs and is based on two other indicators (Advanced Currency Strength 28 and Advanced Currency Impulse).

The way it works it’s by giving an overview of the entire forex market, it will show advanced currency strength values, currency speed of movement, and signals for the 28 currency pairs on all available timeframes.

The main features of this indicator:

-Shows currency strength values of ACS28 and GAP-speed (Impulse) in each timeframe.
-Columns: the color codes show currency strength in 7 colors: strong extreme/stronger/strong/neutral/weak/weaker/weak extreme.
-Left Column: Shows a currency trend with a strength rating of all timeframes with a trend alert.
-If 3 timeframes in a row agree, 3 those blocks are highlighted showing a total rating.
-If there is a pattern, a button appears below the timeframe column for the strongest possible pair with an alert.
-Click on the button to open a chart for that pair/timeframe.
-Quick chart buttons: click 2 currency names to open any pair in a new window.
-Auto-update quote charts for all 28 pairs and timeframe will keep all MetaTrader 4 data current.

There is also a range of parameters and settings available which can alter the way the indicator works and displays, some of these include alert settings such as alert windows, popup alerts, email alerts, alerts for different timeframes. There is also a color setting for changing the colors of the lines and boxes, and finally, there are settings to choose where it will auto open charts, use specific characteristics, and more.

Service Cost

You are not actually able to purchase this indicator outright, instead, you are required to rent it, you can rent it in two different increments, the first being for a three-month period, this will cost you $165, you can also rent it for a one year period which will cost you $199 per year. There is a free demo version to test out, however, we do not know what the limitations of this free version are as they are not stated on the website.

Conclusion

There are currently 54 different user revies for this indicator, the majority are very positive and the indicator has an overall rating of 4.5 stars out of 5.

This is a very good indicator. It gives you an overview of the whole forex market in terms of currency strength and speed. You can push alert buttons and open charts in the same chart window or different chart window. I use a different chart window and put the Advanced Supply Demand, ACS8, Impulse, and volume indicator on it and set it as default. Then when you push the alert button it opens chart with all your indicators on it. I like it very much. It gives you alerts which you can configure to your trading style. Love it. Very good support also. Thank you Bernhard.” – A 5-star review.

Its Overprice and cant be just a Standalone trading system !!. And yes the price moves away while you are just trying to confirm is it as per rules or not (( to many rules !! )) so what is the use of it; its a nice indicator to give an overall picture of the market. BUT the cost for me I regret buying it.” – A 1-star review.

Good product to predict which currencies to trade.” – A 5-star review.

So the majority of reviews are very positive, even with the great reviews and support(the creator is actively replying to emails), we would recommend that you download and try out the free version of the indicator, just to make sure that it does, in fact, suit your requirements and that it is something that you actually need.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/25461

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Blahtech Market Profile Indicator Review

The Blahtech Market Profile can be found on the MQL5 marketplace, we have added a link to it below. The indicator was uploaded by Blahtech Limited on the 18th of December 2015, it was most recently updated on the 1st of August 2019 and is currently at version 2.9.

Overview

Blahtech Market Profile is an indicator for the MetaTrader 4 trading platform, it was created to help you determine market behaviors. It helps to see the value zones which are ranges where 70% of trading took place.

Key features of the Blahtec Market Profile indicator:

  • Configuration presets for schedules on higher timeframes
  • Auto-switching of focus to the next active session
  • The highlight of business rules – Open, IB Extension, and Rotation Rules
  • Multi-session display
  • Backtest directly on the chart
  • Custom session times
  • Custom intervals and timeframe period
  • Market and volume profiles
  • Overall Market and volume profiles
  • Text-based TPO profiles
  • Configurable TPO start letter
  • Value area, Volume value area
  • Initial balance, Point of control
  • Fast access hot-keys

There are a number of different parameters available to alter, some of them include the configuration presets, interval periods, profile lines, overall volume, overlay charts, profile text, summary text, hotkey, and many others including backtesting mode, and calculating TP size factors.

Service Cost

The indicator can currently be purchased for $119, this will enable you to use it as much as you desire with no limitations if you would prefer, there is also the option to rent it, you can rent in on a monthly basis which will cost you $25 per month, or you can rent it for three months which will cost you $32.

There is a free version available too, this free demo will have some limitations which are unfortunately not mentioned on the website, so we are not fully clear what they are. It is always worth using the free demo version just to make sure the indicator does what you need it to do.

Conclusion

At the time of writing, there are 12 different user reviews, they have given the indicator and overall rating of 4.5 out of 5.

Three stars due to lack of sufficient material explaining the purpose of each setting and how to use it. When you are selling a high-end indicator such as this with so many settings, you should at least provide sufficient documentation (with images) explaining how to use each setting and what its purpose is. You have provided some material, but for the most part, you have left it up to the user to figure out how to use the indicator. That’s not a professional way to do business.” – A 3-star review.

Waste of money! Most of the time [it] doesn’t show anything, no profile at all. If it shows any profile it is with barely any detail. Highly overrated! Not recommended for purchase.” – A 1-star review.

I bought this indicator together with the Daily Range indicator over a month ago so that I can give an honest review. I have to say….just as the Daily Range Indicator, Market Profile is amazing. I have this indicator currently running on 15 charts at the same time on an older PC and I have not once experienced a slowdown or freezing of MT4. The features in this indicator are truly amazing, which makes my life so much easier. Thank you Blahtech 🙂” – A 5-star review.

So there is a range of reviews, however, there are far more 5 out of 5 ratings than any other rating which is a good sign. The creator also seems to be replying to the majority of comments which shows that they are still supporting the indicator. As always, download the free version and send any queries to the developer, this way you can ensure that the indicator is right for you before you make a purchase or rental.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13443

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Forex Services Reviews-2

Complete Scalper EA Review

Complete Scalper was uploaded by Pavel Yakovlev to the MQL5 marketplace under the category of Experts. It was first uploaded on the 10th of March 2017, it has had a number of updates and was more recently updated on the 25th of August 2017 and is currently at version 1.18.

Overview

Complete Scalper is an expert advisor that has been created for the MetaTrader 4 trading platform, its main method of trading is to combine a number of strategies including Yogi EA, Scalper GBP, and Cross Scalper. The EA does not perform hedging, martingale, grid, arbitrage or any other strategy like that.

Some advantages of using the expert advisor:

  • Trading strategy for two new pairs – USDCHF and USDCAD.
  • High-risk diversification. The EA can work on 11 currency pairs, which allows reducing the risks in the long term.
  • It is a good deal. You get three Expert Advisors and two new pairs for trading at an affordable price.

There are a number of parameters that can be altered, these include things like commentary, magic numbers, pairs to use, whether to trade on Fridays, timeshift, stop losses, take profits, news filters, closing time, fixed lots, risk factor, and more.

There are also some recommendations from the developer:

Timeframe: M15.

Currency pairs: EURAUD, AUDCAD, EURCAD, EURCHF, EURGBP, GBPAUD, GBPCAD, GBPCHF, GBPUSD, USDCAD and USDCHF.

Account type: for best results, use an account with market execution of orders and low spread.

Risk: specified in the “Risk level” parameter. It can be changed by the user.

Service Cost

Complete Scalper can be purchased for $199 which will allow you to activate the EA up to 10 times. It can also be rented for a period of three months which will cost you $10 for that three month period.

There is a free demo available, there is no information about the limitations of the free version, however, we believe that it may only be used within the strategy tester of MetaTrader 4.

Conclusion

There are five user reviews for Complete Scalper, they have given the EA an overall rating of 3.5 out of 5.

The EA works well on Pepperstone ECN and RoboFX ECN, you just have to be patient as it’s not an instant profit making machine and there will be some stop loses, but give it time and a few months is enough to see that ii does actually work and make good money (as the backtests show). I use a medium/conservative money management risk on all pairs. I’ve just extended my rent to evaluate over another 3 months as it’s going well so far on both accounts. This is a very good long term profitable night scalping EA. A+” – A 5-star review.

2018 April 2: Seller is not available. Questions are not answered. Up to now only loser trades. 1 star, 2018 May 6: Seller is still not available. Some winners, some losers. Overall small profit. 2 stars, 2018 June 29: no profit“ – A 1-star review.

There is a mix of reviews, the main downside seems to be the lack of support, looking at the comment section, it seems that the developer has not been responding to them either which is a little concerning to see. For those that the EA works, it seems to be working well, but if you come across any issues it seems that it can be quite hard to get any support. We would advise that you try and contact the creator before purchasing, as you need to know that they are around should anything go wrong.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/21607

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Forex Services Reviews-2

Line and Shadow Indicator Review

Line and Shadow can be found within the indicator section of the MQL5 marketplace, you can find a link to it below so as to avoid any possible confusion as to which indicator we are looking at. The indicator was first released on the 19th of January 2016 but its creator Sergei Konoplev, it received an update shortly after on the 25th of January 2016 and this brought it up to version 1.6.

Overview

The Line and Shadow indicator was created for MetaTrader 4, the indicator shows the trend direction and power on your charts, it will then plot entry and exit points for you the indicator contains the main lie and trend shadow zones.

The main settings available on this indicator:

  • Show_Shadow – show/hide shadows.
  • Show_ARROW – show/hide arrows and market entry points.
  • Show_max_Lines – show/hide the maximum possible profit lines.
  • ALERT – enable/disable trend change notifications in the terminal.
  • Email – enable/disable e-mail notifications.
  • Push – enable/disable push notifications.

https://youtu.be/j9aZLb0mnVA

Service Cost

The indicator currently costs $30 to purchase it outright, this will give you unlimited access without any restrictions. There is also the opportunity to rent it, it will cost you $10 per month to use it this way. There is a free demo version mentioned don the site, however, they do not mention what the limitations of this free version are.

Conclusion

There are currently three user reviews about this indicator, they are giving it an overall rating of 3.5 out of 5.

Very good indicator, When you use correct value and all timeframes. Good feature is no repainting indicator” – A 5-star review.

It works as described. Satisfied. Recommend ~!” – A 5-star review.

The indicator is redrawn !!!” – A 1-star review (translated from Russian).

The 2 reviews were very positive with one being negative, there are also a number of comments in the comment section, the developer has been replying to the comments which are a good sign for the future customer service. As there aren’t many reviews we would highly recommend that you use the free version to make sure it works, or get in contact with the developer so you can be sure that it will do what you need it to do prior to making a purchase.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/14048

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Forex Services Reviews-2

Keltner MTF FX Indicator Review

Uploaded by Algoritmic Capital on the 25th of April 2019, the indicator can be located on the M!:5 marketplaces, there have not been any further updates since it was uploaded but it was initially uploaded as version 1.1.

Overview

The Keltner MTF is an indicator that was created for the MetaTrader 4 trading platform. Its main purpose is to act as a channel indicator and will display price channels from different timeframes. So when looking at the H1 chart, you will also see the price channels for the M15 and H4 timeframes. The indicator can be used for both channel trading and for following the trend.

Service Cost

The Keltner MTF indicator will currently cost you $54 to purchase, there is also an option to rent it which will cost you $39 per month. A free demo version is also available to try out, the limitations of the free version are not stated on the site, it may only be usable with the strategy tester and not on live charts.

Conclusion

Unfortunately, there are no user reviews which means we cannot see how the indicator is working and if people are finding it useful, there are also only two comments which are both fro the developer themselves. Due to the lack of feedback, we would strongly suggest trying out the free version of the indicator, this was you can make sure that it will work for you, you could also send any queries that you have to the creator, this is a way of making sure that they are still actively supporting the indicator before you make a purchase or a rental.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/38080

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Forex Services Reviews-2

Jabrix Scalper Forex EA Review

Jabrix Scalper is located within the Experts section of the MQL5 marketplace, it was created and uploaded by Eko Rahmadi Rahmadi on the 3rd of April 2020, it has not had any updates since being released as is currently still at version 1.0.

Overview

Jabrix Scalper is an expert advisor for the MetaTrader 4 trading platform, it was designed to work as a scalping EA by putting in pending buy and sell orders to maintain orders.

Some tips to take note of from the developer:

-Use Jabrix Scalper with a Good Broker with Low Spread, Stop level, and Slippage
-Trades will be protected by stop loss. Tight trailing is implemented.
-You can start to trade with $ 100 Minimum initial Deposit
-The recommended account leverage is 1:300 or more
-VPS hosting 24/7 is strongly advised.

It is recommended to use the EA n the M5 timeframe and on the EUR/USD, GBP/USD, USD/CAD, and USD/JPY pairs as long as the spread is below 1 pip.

There are also some parameters that come with the EA, these include magic numbers, order comments, stop losses, trailing stops, the distance of pending orders, max spreads, auto lots, the risk to use, to use fixed lots, and more.

Jabrix EA 1% Risk Level

Service Cost

The expert advisor will cost you $777 to purchase it outright, this is a one-time payment and will give you up to 5 activations of the software. There is also the option to rent the EA, this can be done monthly and will cost you $100 per month. A free demo version is available but this can only be used with the strategy tester within the MT4 platform.

Conclusion

There are currently no user reviews or ratings so we do not know whether people are finding the EA profitable or whether it is doing what it is intended to do, there are also no comments from users so we do not know if the developer is offering support, due to this we would suggest contacting them, just to make sure they will be there should you decide to get the EA and then need some support.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/47937

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Forex Services Reviews-2

Ichimoku Scanner Dashboard Review

The Ichimoku Scanner Dashboard is an indicator that is found in the MQL5 marketplace. We have added a link to it below. The scanner was created by Abir Pathals and was first uploaded on the 1st of September 2019, it has had a few updates, the most recent update was on the 13th of March 2020 and is currently at version 2.2.

Overview

The Ichimoku Scanner Dashboard is an indicator that was designed to be used with the MetaTrader 4 trading platform, it uses the Ichimoku strategy to help find the optimum trades.

Not all the options or features are really shown, however, there are sections explaining what is needed for a buy signal, some of them include things like if the price is over the minimum distance from Kumo if the use awesome oscillator setting is set to true and the is above and green, there are many other explained once you purchase the utility.

There is a how-to trade section:
“The best way to use this indicator is with Support and Resistance or TDI Indicator. Or any other indicator which might validate that trend is still strong and not near an SR Zone. In general set Stop-Loss near the Blue Kijun Sen (Base Line). Set Take Profit near SR line. Or wait for Stochastic to show that signal is oversold/overbought and possibly reversing. You can also use TK cross in the opposite direction as a Closing Trade signal.”

There is a large list of settings available for the indicator, they include things like using your own pairs, time frames, minimum distances, alert settings, font sizes, columns, refresh rates, min price, alert types, min Chikou distance, and many more options too.

Service Cost

The indicator will cost you $40 to purchase it outright and gain unlimited access, you are also able to rent it, the indicator can be rented on a one-month basis for $10 per month, you can also rent it or three months which will cost you $20 per three-month period. A free version is available, however, when looking through the site we could not see what the limitations of this free version were.

Conclusion

There are currently 5 reviews provided for the Ichimoku Scanner Dashboard, they are giving it an overall rating of 4.5 out of 5.

Good for Ichimoku traders, out of 10 trades I lost only 2, it is good to take trade if all 3 time frame in same direction and plot trend line in lower time frame and enter the trade when price is retracing. Target is 5 pips less then swing high or low based buy/sell, stop loss based on your risk management, I used same strategy.” – A 5-star review.

It doesn’t fit my own strategy that I use with ichimoku, so I don’t use the alerts, but the screening and fast scanning is amazing, the panel is very good looking. it works flawlessly, the documentation and tutorial video covers everything you need to know. great work 🙂” – A 5-star review.

Great scanner. Works well if you understand Ichimoku and know how to configure it.” – A 4-star review.

So the reviews are all looking very positive which is a good sign, they are showing that it does what it is meant to and clients are getting value out of it, as always, we would recommend downloading and trying out the free version, just to make sure that it is right for you.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/41711

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Forex Services Reviews-2

Happy Sun Forex EA Review

Happy Sun EA is an expert advisor from the MQL5 marketplace, we have provided a link to it below just in case there are any other expert advisors with similar names. The expert advisor was first uploaded to the MQL5 marketplace as version 3.5 by its creator Sergey Belov on the 14th of November 2019, it has not had any further updates after the initial upload.

Overview

The Happy Sun EA is an expert advisor for the MetaTrader 4 trading platform, it uses the breakout strategy when opening orders. All trading will be done through the use of pending orders and entry points are located at the minimums and maximums unless excluded by filters.

The expert advisor is optimized to be used with the EURUSD pair you should also have leverage levels of at least 1:500. It is also recommended that you have a deposit of at least $2,000.

Plenty of parameters are available to change, some of them include the risk, fixed lot sizes, whether to stop on Fridays, take profit levels, the depth of search, min delta, min order interval, maximum orders, lot multipliers, slippage, text colors, magic numbers and more.

Service Cost

The expert advisor will cost you $60 to purchase it outright, unlike many experts on the MQL5 marketplace there is no option to rent it so purchasing it outright is the only option available. There is also a free demo version, but the details and limitations of that version are not known and not stated on the website. It could be worth downloading to try out though.

Conclusion

The Happy Sun EA currently has 7 reviews which give it an overall rating of 3.5 out of 5.

No new posts from the author. Went missing in action from consistent posts in comments to 0 posts in comments. Not showing any forward guidance to users in such a way leaves a distaste in my mouth. It blows your account. It’s a breakout system that does work on 5mins charts. But forward live tests, results are otherwise.” – A 1-star review.

I have been running on a live cents account with a balance of 30 000 cents. 10.33 % increase in 6 days with low DD. Very happy! Quick response from Sergey with set files. Get this while it’s cheap! Very underpriced.” – A 5-star review.

It showed promise in the beginning, but MC occurred in the short Demo test I conducted. Even the developer’s official monitoring account MCd today. Needs improvement to prevent growing drawdown and MC risk.“ – A 2-star review.

There is a mix of reviews, some good and some bad, one of the revies is about the developer going missing, however, he has commented on the expert advisor a few days before writing this review so he is still around, we would suggest trying out the free version before making a purchase, just to make sure it is the right expert advisor for you.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/42593

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Forex Services Reviews-2

Gap Professional EA Review

Gap Professional can be found within the Experts section of the MQL5 marketplace, it was first uploaded to the marketplace on the 4th of March 2020 by its developer Vadim Zotov. It has since received an update, the latest update was on the 23rd of March 2020 and is currently at version 1.2.

Overview

Gap Professional is an expert advisor that was created for MT4, it is based around patterns of closing gaps in price movements and requires a minimum account balance of just $10.

The EA will look for movements in currencies and the gaps which are created due to high movements or pauses in the markets like the weekends. The robot will try to trade these gaps and the large jumps in prices that come with them.

Some recommendations from the developer:

-The robot can be used to trade on any accounts. Preferred accounts with 5-digit quotes, low spread, and high speed. The leverage of the account is preferably not less than 1:500.

-Optimization overtime is not required if market parameters do not change. However, when switching to other brokers, especially with an increase in the spread, optimization may be necessary.

-New set-files will be posted here on the ‘Comments’ page (see link below).

There are plenty of options available too, these include comments, magic numbers, language, which days to trade, maximum spreads, size of the gap allowed, the coefficient of taking profits, tick criterion, lot selection, fixed lots, stop losses, and many more.

Service Cost

The Gap Professional EA can be purchased for $250, this will get you up to 10 activations, there are also options to rent the EA, you can do this on a monthly basis which will cost you $150 per month, you can also rent it for three months which will cost you $200 for that time period.

A free demo version is also present, there are no details about it such as its limitations, so we do not know what they are or how the free version will function. There is a good chance that it can only be sued with the strategy tester within MT4.

Conclusion

There are currently four reviews available for the Gap Professional EA which have given it an overall rating of 5 out of 5.

I love this Idea, was looking this for while !” – A 5-star review.

I like this robot because the strategy it uses is based on crowd psychology and is always true no matter how the market changes. After a trial period, I decided to buy it to use with my real account and received very enthusiastic support from Vadim. I will continue to update the effectiveness of this EA.“ – A 5-star review.

The reviews are all very positive which is good to see, there are also some comments, all of them are from the developer, the last one was in 2020 so this shows that they are still active in supporting the expert advisor. As there aren’t many reviews or comments, you could always contact the developer before purchasing just to make sure that it will do what you need it to do.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/46687

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Forex Services Reviews-2

FFx PinBar Setup Alerter Indicator Review

FFx PinBar Setup Alerter can be found within the indicators section of the MQL5 website, it was uploaded by its creator Eri Venturi-Bloxs on the 27th of March 2014. It has not received any updates and so it still at its original version of version 1.0.

Overview

FFx PinBar Setup Alerter is an indicator that can be sued with the MetaTrader 4 trading platform. It was created to five your entry, profit targets, and stop-loss targets.

The indicator comes with a number of options:

-Entry suggestion – pips to be added over the break for the entry

-Minimum candle size – to avoid too small candles

-3 different options to calculate the SL – by pips, by ATR multiplier or at the pattern High/Low

-3 different options to calculate the 2 TPs – by pips, by ATR multiplier or at Risk/Reward

-Offset the dashboard – any place on the chart

-Remove the suggestion once the price reached the SL line

-Lines extension away from the current candle

-All colors changeable – Background, text, Buy/Sell, entry and TP/SL

-Alert when a setup is found – sound / popup / email / push notification

Service Cost

The indicator can be purchased with a one-time payment of $12, this allows you to activate the indicator up to 5 times and there are no other limitations. There is no option to rent it but a demo version that can be used with the strategy tester within MT4 is available to use for free.

Conclusion

The indicator has an overall rating of 4.5 out of 5 which was given to it by 8 user reviews.

Awesome indicators….just needs to be able to show historical would be a great help.” – A 5-star review.

Brilliant indicator! Early days, but it has a 80% hit rate when used in conjunction with Fibonacci ratios on H4 for forex and commodities.” – A 5-star review.

7 out of the 8 reviews are all very positive indicating that the indicator is doing what it is intended to do. There are a lot of comments that the developer has replied to in a very prompt manner, showing a good level of customer support. The most recent comment was from 2018 so it has been a while, due to this we would suggest sending any questions that you may have to the creator of the indicator, this way you can be sure that it will still be supported would you decide to purchase it.

This Forex Indicator is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/3734

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EA Volcano Review

EA Volcano is currently located within the Expert section of the MQL5 marketplace, it was developed by Oleg Pavlenko and was first uploaded to the marketplace on the 6th of March 2020, it received its most recent update on the 5th of April 2020 and is currently at version 2.4. This EA can be accessed at https://www.mql5.com/en/market/product/47006

Overview

EA Volcano as the name suggests is an expert advisor that can be used with the MetaTrader 4 trading platform, it was designed as an EA that will enter into the markets during trends by using built-in trend indicators. The description indicates that the EA does not use some of the riskier strategies such as martingale or grid strategies. It will close out trades using take profits or when the trend reverses.

When adding the EA to the chart, it will add two new panels onto the chart window which can be used for opening and closing orders, the two panels can help you to trade manually, semi-automatically, or to help the EA with drawdowns by hedging positions.

The EA was developed to work with the EURUSD currency pair and on the H1, H4 or D1 timeframes, this is what it has been optimized for but it can still work with other currency pairs, it just may not be quite as effective. It is also recommended to have a balance of at least $100 and leverage from 1:500.

There are also plenty of parameters and settings available, these can be changed to alter the way that the EA functions. Some of the available options include the language used, maximum spread, maximum slippage, to use notifications, which timeframes to use, the moving averages method to use, take profit and stop loss levels, whether to use fixed lots, the maximum number of open orders or trades, trailing stops, colors, fonts, and man more options are available.

Service Cost

The EA can be purchased outright for the cost of $50, this is a single payment that allows you to activate the Ea up to 5 times. Unlike many of the other EAs on the MQL5 marketplace, there is no option to rent this EA so purchasing it is the only option available. There is a free demo version available, but this can only be sued with the strategy tester within the MT5 platform and not on a live account.

Conclusion

The EA Volcano currently has 5 user reviews which gave given it an overall rating of 5 out of 5.

Very very good EA and Oleg have strong patience and assistance!” – A 5-star review.

I just bought it, in the tests very well, we will see now live” – A 5-star review.

Excelente EA , recomendado.” – A 5-star review.

So the reviews are all very positive which is a great sign that it is performing how it was described. The comments within the reviews also speak about the good support being offered by the developer, this is reiterated within the comments section of the site as there are plenty of comments that the creator has been replying to promptly, again, another great sign as to the sort of support that you will receive should you decide to purchase this EA.

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Directional Forex Robot Review

The Directional Forex Robot is a creation from Forex Robot Trader which is a site that has created a large number of robots before.

Overview

The Directional Forex Robot is designed to be used the MetaTrader 4 trading platform and is designed to detect large directional pip movements early on. Some of the listed features include:

  • Works on ALL Forex currencies
  • Works on ALL timeframes
  • Works with Metatrader 4 charting software
  • Works with 4 or 5 broker digit pricing automatically
  • Comes with all custom indicators, expert advisor, and templates
  • You can close out any trade manually without disrupting the robot
  • The robot has optional trailing stop loss capabilities built-in
  • Automatic money management built-in
  • Adjustable inputs “applied price types” and “moving average modes”
  • All text and color objects are user adjustable

The statement of how the robot works is as follows: “The Steinitz HAS MTF Directional Robot version 1.7 uses the same Heiken Ashi Smoothed indicator but it has completely different algorithms for making buying and selling decisions. This robot that we are featuring here waits for trends to develop on multiple time frames before getting in the market. It other words this robot places trades in the direction of the underlying trend(s) and stays in until the trends start to reverse.”

Some results have also been posted on the site. We will briefly look at the past three months which are as follows:

January 2020: $36,323
February 2020: $17,420
March 2020 up to the 14th: $14,177

These are impressive figures which would make anyone happy, which seems to be the angle that Forex Trading Robot is going for. Looking at the March results in a little more detail, there is a profit of just over $14,000 *( at the tie of writing) and a relative drawdown of just $500. Those are incredible figures, especially during this time of heightened volatility (Coronavirus outbreak). Many expert and professional traders are struggling but this trading robot is having no issues at all, that should be a big red flag, to begin with. The results have also not been verified by an independent site such as My FX book which means that there is nothing preventing the results from being altered by the owners.

Service Cost

The current cost of the robot is $49.00, this is a 75% discount on the original price of $199.00. All robots on this website seem to have a starting price of $199.00 and then an added discount, so we believe that this current price of $49.00 will not change.

Conclusion

There aren’t any user reviews on the site, so we had to look elsewhere around the internet in order to find some user reviews of the software.

Out of the box robot from Don is a waste of time and your money!

Well I ran the software live and all I had were losses. O don’t get me wrong I loved the software and like Don also…but proof is in the pudding. I am starting to believe that some people are meant to get money easy (those are the ones with great reviews…and the rest of us who no matter how hard we try: we just lose.

As you can see, the reviews aren’t looking great, this once again leads us to believe that the results being shown are not exactly the right ones. We would advise some caution when using this robot due to the number of negative reviews that can be found around the internet.

This Forex trading robot can be found at https://www.forexrobottrader.com/forex-robots/directional-robot

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Forex Services Reviews-2

Copier4Fee Advanced Trade Copier Review

Copier4Fee Advanced can be found within the utility section of the MQL5 website and marketplace, we have added a link below to it too.

https://www.mql5.com/en/market/product/11502

The expert advisor was created by Vladimir Tkach and was first uploaded on the 11th of September 2015, it has been updated a number of times, the most recent update was on the 5th of February 2020 and is currently at version 7.6.

Overview

Copy4Fee Advanced is a utility and expert advisor for MetaTrader 4, it has been designed to copy trades from a signal provider to receiver (slave) accounts. You are also able to copy trades in the opposite direction. The utility can be selected to copy various different options such as only negative or positive trades, to limit the slippage and more.

There is plenty of settings available to change, they will allow you to slightly alter the way that the expert advisor works. You can change the mode of the copier, the prefix/suffix, slave number, copy with a reversal, recopy closed trades, to copy stop losses, to copy take profits, to multiply a lot of copied deals, to use fixed lot sizes, to show last events and many more options.

The video below explains more about the benefits and use of this Forex tool:

Service Cost

The expert advisor can currently be purchased for $50, this will give you unlimited access to the expert, if you do not want to purchase it, you can also rent it, you can rent it on a monthly basis which will cost you $15 per month, you can also rent it for a year which will cost you $30 for the years use. A free demo version is available, this will allow you to test it out, it will have some limitations but we do not currently know what the limitations are.

Conclusion

At the time of writing, there are 19 reviews available for the Copier4Fee Advanced expert advisor, they are giving it an overall rating of 4.5 out of 5.

This is a great tool! It works as expected and very reliable. Also the additional features are great and give me a huge flexibility to handle the copied trades. Vladimir is very responsive and answer all questions, and even better: He is always open for improvement ideas, like I asked him now. You see my request in version 7.6 With this, C4F gives you a great Drawdown control, which even EA’s do not gives you. Extremely thanks Vladimir!” – A 5-star review.

Exceptional support! My broker was changing comments of trades from server side which is breaking EA’s functionality and the author provided great support to solve my problem. He spent time and money to solve it. I have never experienced such kind of customer support from anyone or any company in my whole life. You can %100 trust him.” – A 5-star review.

So the vast majority of the reviews are all giving it 5-stars which is a real positive, there are also over 200 comments and the creator of the expert advisor is doing a great job trying to reply to them all, this can give an indication to the sort of support at you will receive if you decided to purchase the expert advisor. Even though everything seems really positive, we would highly recommend that you download and try out the free version, just to make sure that it has the features you need and that you are able to get it set up correctly.

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Be the Best Forex EA Review

BeTheBest is an expert advisor that can be found on the MQL5 marketplace, there is a link to it below so you can see exactly which expert advisor we are looking at.

https://www.mql5.com/en/market/product/42933

Nauris Zukas the creator first uploaded this expert advisor on the 24th of October 2019, it has been updated a few times, the most recent update was on the 10th of March 2020 and this brought the expert advisor up to version 4.0.

Overview

BeTheBest is an expert advisor that can be sued with the MetaTrader 4 trading platform. The expert advisor is based on an indicator called the TrendImprovement Pro indicator, the expert adviser was designed to use this indicator and to make it into an automated trading system.

There are two ways to use the expert adviser:

AutoSettings = true – in this mode, the expert is prepared to work on a 1-hour chart (1H). In this mode, any parameter changes will not affect results. The expert opens positions only at the beginning of the 1H bar. Charts above 1H will not give correct results, because if a signal from the indicator appears, the expert will wait for a new bar to open positions.

AutoSettings = false – allows you to work with your own parameters on any chart.

There are a whole host of settings available that can alter the way that the expert advisor works, some of these include the maximum number of history bars, the averaging period, the RSI averaging period, loss rate percentage, price action filter, maximum lot size, risk value in lots, magic number identifiers, and more.

Service Cost

The expert advisor will cost you $399 to purchase, it is quite expensive but once purchased you will have access to it indefinitely. If you do not want to purchase it, there is also an option to rent it, you can rent it for one year which will cost you $199. There is a free demo version available. However these free versions often have a limitation added to them, but the website does not indicate what the limitations could be.

Conclusion

There is just one review available which has given the expert advisor a 5-star review.

Update: 12-Jan-20, One month and my live account in profit by about 30%. Thank you! Good backtest results.

As there is just the one review available, we would highly recommend that you download and test out the free version, this will give you a better understanding of the way the expert advisor works, but will also ensure that you are able to get it up and running properly before making any actual purchases.

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Forex Services Reviews-2

Devilfish Version 1.8 Forex EA Review

The Devilfish EA is an expert advisor that can be found on the MQL5 store, we have linked it below just so there is no confusion with any other expert advisors with a similar name.

https://www.mql5.com/en/market/product/43169

The current version of this expert advisor is version 1.7 and was last updated on the 28th of February, 2020.

Overview

The Devilfish expert advisor has been designed to work with MetaTrader 5, and so currently only works with that single trading platform. It is designed to work with high levels of volatility, but there isn’t much more information being provided about the expert advisor.

The features and requirements of the Devilfish EA have been listed below:

  • Minimum account deposit: $ 150
  • No configuration required
  • Accounts: Netting, Hedging
  • Currency pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD, USDJPY
  • It works on hourly bars, not demanding on the quality of Internet connection
  • Works in the strategy tester in the “open prices only” mode
  • It does not use super short trades (Scalping)
  • It does not use martingale or averaging

Service Cost

The full price of this expert advisor is $54, you are also able to rent it which will cost you $20 per month. There is also a demo version available, however, there are some limitations to the account t such as not opening up trades on a Wednesday, there is also a profitability decrease of 20% compared to the full version.

Conclusion

There are a few different reviews available on the site, some positive and some negative.

I don’t know why some people post great reviews but not post the real trades, I’m using more than one month, but has not good performance, I understand the volatility but the EA is not performing, usually Mikhail takes a lot of time to answer too” – That is a one-star review.

Great job very good recommend”. – A 5-star review

This week on USDJPY trade, the profit was USD 100+, why it does not close the order? Now from 100+ to losing position. I backtested from 03-03-2020 and the result was very good and all orders closed. But my real result now got 4 open orders all losses for many days already. What’s wrong?”. – Another one-star review.

So there are very mixed reviews, we would suggest testing out the demo to see how it functions before purchasing the full product.

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Forex Services Reviews-2

Blahtech Supply Demand Indicator Review

Blahtech Daily Range can be found within the indicator section of the MQL 5 marketplace, we have provided a link to it below so you can know exactly which indicator we are looking at.

https://www.mql5.com/en/market/product/13147

The indicator was first uploaded by Blahtech Limited on the 8th of April 2016, it was most recently updated on the 19th of June 2019 and is now at version 2.8.

Overview

Blahtech Daily Range is an indicator for the MetaTrader 4 trading platform, it will display the average daily range alongside the individual session ranges. It will show both a fixed range as well as dynamic range targets on the charts, these lines will show you when the average range is exhausted. This is best to use when you need to confirm entries or to set targets.

The main features of the indicator:

  • Daily Ranges
  • Session Ranges
  • Single or multiple ranges
  • Fixed and dynamic exhaustion chart lines
  • Highlighting of larger ranges
  • Configurable targets and highlight values
  • Backtest directly on the chart
  • Customizable alerts and messages
  • Selectable period for higher timeframes
  • Fast access hot-keys

There is also a vast number of inputs and parameters that can be altered to help make the indicator better suit your own requirements, some of these include display options such as the color of lines, time periods, sessions schedules, there are also options for the number of ranges, average range composition, projections, text colors, daily range start time, alerts, and more.

A video explaining how this Forex indicator functions is available on YouTube:

Service Cost

The Blahtech Daily Range indicator will cost you $48 to purchase it outright, giving you unlimited access to it. There is also an option to rent the indicator, you can rent it on a monthly basis which will cost you $10 per month, or you can rent it for 3 months which will cost you $12. There is a free demo version available, the limitations are not known but we believe that it will only work on a demo account.

Conclusion

There are three reviews for the indicator, they are giving it an overall rating of 4.5 out of 5.

“The indicator looks promising, but I am disappointed that there isn’t a user-friendly manual providing basic details on how to use its features. As a courtesy to customers, a “how-to” user manual should be included.” – A 4-star Review.

“I have been trading the markets for quite some years now but only recently stumbled about the concept of Average Daily Ranges and it has transformed my trading. This indicator is very good and does not slow down my PC at all as so many other indicators on MQL5. This is top-notch quality. The creator of this indicator really knows his stuff. He was also kind enough to make amendments or put further features in. Will ADR call intraday market turns every time? Of course not….will it add structure to your trading and increase your chances of success?…Absolutely! Good product that I can only recommend.” – A 5-star Review.

“This is a great indicator, and no intraday trader should go without it. Knowing the average ranges of any given time slice is invaluable information, and this indicator is well coded and visually appealing. Great work, I use it every day.” – A 5-star Review.

There isn’t a massive selection of reviews, but the ones that there are shown a very positive opinion towards the indicator, there are plenty of questions and the creator seems to be replying to them quickly which is a good sign that it is being actively supported. As always, be sure to check out the free version, while it may be limited, it will give you a better idea of how the indicator works and you can make sure that it is right for you prior to making a purchase.

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Forex Services Reviews-2

FirstShot Forex EA Review

FirstShot was uploaded by Evgeniy Zhdan to the MQL5 marketplace, it was first uploaded on the 29th of January 2018 and was subsequently updated on the 18th of February 2020 and is currently at version 2.2.

Overview

The FirstShot expert advisor can be used with the MetaTrader 4 trading platform, it was designed as a trend scalper, the EA will not use martingale strategy. The strategy behind the EA will look at the volatility level changes within the markets over certain periods of time, it will look for times when there has been an unusual amount of movement and will then begin trading.

There are a few recommended timeframes and pairs:

  • GBPUSD on the M5 timeframe
  • EURUSD on the M5 timeframe
  • USDJPY on the M5 timeframe
  • Gold on the M5 timeframe

In terms of parameters, there are a few available to alter, they include things like the commend on orders, maximum risk, maximum orders, take profits, take losses, MA periods, to enable trailing stop,s the step of the trailing stop, max spreads, max slippage, magic numbers, and more.

Service Cost

The expert advisor can be a little expensive, it will currently cost you $950 to purchase it outright, giving you unlimited access. Many more expensive pieces of software on the MQL5 marketplace often have an option to rent it, but this option is not available with the FirstShot expert advisor.

There is a free demo version, however, the limitations of the free version are not known, it may only be usable on the strategy tester, due to the price of the expert advisor we would recommend downloading and trying out the free version regardless.

Conclusion

There are four reviews available for the FirstShot Expert Advisor, they have given the EA and overall rating of 3 out of 5.

Great Advisor. I bet on Gold, Pound, and Euro. Trading is excellent! Who puts bad reviews? Learn to install advisers))” – A 5-star review.

Great profitable adviser!” – A 5-star review.

Rubbish” – A 1-star review.

So a mix of opinions but not a lot of information to work with, there are also 8 comments, the developer has been replying to a few of them but not all, the most recent comment shave not had any responses which could mean that the developer is no longer supporting it, we would advise you to send any questions you have to the creator if they reply it will mean that they are still supporting it and it will ensure that the expert advisor is right for you, do this before purchasing as it is a relatively expensive EA.

This Forex Indicator is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/27478

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EA Locker Forex Expert Advisor Review

EA Locker can be found within the MQL5 marketplace under the Experts heading. It was created by Vasiliy Strukov and was first uploaded to the marketplace on the 7th of November 2019, it has received a number of updates, the most recent update were on the 11th of December 2019 and this brought the EA up to version 3.0.

Overview

EA Locker was created for the MetaTrader 4 trading platform, its main purpose is to use a unique algorithm to be as stable as possible with any sort of market movement, the aim is to completely close positions in the lock. There isn’t actually any more information given than that.

There are some additional parameters that you are able to alter, these will slightly change the way that the EA functions. Some of the options include whether to open a new series of trades, starting lot sizes, whether to use money management, trailing stop starting pips and step sizes, take profits, stop losses, magic numbers, the percentage for drawdown protection and more.

Service Cost

EA Locker will currently cost you $45 to purchase outright, this comes with up to 5 activations and no further limitations. Unlike many EAs on the MQL5 marketplace, there is no option to rent it so the only way to get it is with the one-off payment.

There is a free demo version, no details around it are given on the site which leads us to believe that it may only be used with the strategy tester within the MetaTrader 4 platform.

Conclusion

There are ten user reviews available, they have given the EA Locker an overall rating of 5 out of 5.

Vasiliy has been very responsive to queries. There are many EA authors out there but not many are as patient and knowledgeable as Vasiliy. Top author. Top product. Definitely 6 stars from me.” – A 5-star review.

As always, great work !!! Thank you Vasily !!! In my opinion, the price for all EA of this master-developer is symbolic !!! With competent settings, it works with dignity, the main thing is not to be greedy !!! I purchased and did not regret all the development of Vasily and I do not regret it !!! I recommend to everyone !!!” – A 5-star review translated from Russian.

Good EA with great return when set up with good risk management setting. ++++ Highly recommend” – A 5-star review.

So all ten reviews ar every positive giving the EA a very high score, there are also a number of comments, the developer has been replying to the majority of them in a prompt manner which shows that they are still there and willing to actively support the expert advisor and those that have purchased it. If you are still unsure, send the developer a message with any questions, this way you can make sure that it is the right EA for you before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/43502

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Forex Services Reviews-2

CAP Equity Guard EA Review

The CAP Equity Guard EA can be found within the utility section of the MQL5 marketplace, we have provided a link below to the exact software that we are looking at.

https://www.mql5.com/en/market/product/2117

The utility was created by Mohammed Ali and was first uploaded on the 20th of December 2016, it was last updated on the 12th of November 2019 and is currently on version 4.2.

Overview

The CAP Equity Guard is an expert advisor for the MetaTrader 4 trading platform, it is used to constantly monitor the equity of the active trades with the aim to help prevent drawdown.

A number of expert advisors’ functions:

  • It monitors your entire trading account.
  • Easy to use! Just drag it to a random empty chart.
  • It will work perfectly if MetaTrader 4 restarts.
  • It can be workable with your existing EA.
  • Visual, mail, and push alerts.
  • It can remove your external EA after the target equity hits.

There is a range of settings available to alter the functionality of the expert advisor to suit your own needs, some of these parameters include stoping the EA, the profit type, profit value, loss values, when to close trades, when to delete pending orders, to stop after a trigger, to enable popups, to enable email or mobile alerts, slippage settings, and many more.

Service Cost

The expert advisor will currently cost you $30 to purchase it outright, this will give you unlimited access with no restrictions. There is also the opportunity to rent it, you can do this for $10 per month. A free demo version is also available, it will have some limitations but they are not currently known to us.

Conclusion

There are currently three reviews available for the CAP Equity Guard Expert Advisor, they are all positive giving 5 stars each.

With the new update 4.20 (new setting “When Trigger Hit”) this is a very smart, professional, and useful tool. Good contact via mail with the developer with fast response.

very useful EA, you just need to fix the alert to work

This is the best net worth deposit suspension EA, thanks very much to the author for his great invention. You are the best, thank you very much.

The reviews re all positive which is a good sign, there are also a number of comments, the creator is replying to them promptly which is good to see and also offers a dedicated email address for support queries. As always, we would highly recommend that you download and try out the free version of the expert advisor, even with the limitations, it is a way to test it out and to ensure that it does actually do what you need it to do.

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Double Divergence Scanner Indicator Review

The Double Divergence scanner was made available in November 2019 by the creator Jan Flodin. Flodin has created a vast selection of pattern scanners and dashboards that have extremely good reviews online and the indicator we are reviewing today is no different. After having multiple updates and improvements made, Flodin is currently offering version number 2.3 of this indicator which can be used on the MT4 platform.

Overview

This indicator’s main function is to identify when divergence occurs between the price and one/two or three indicators/oscillators. This multi oscillator is able to identify both classical/regular and hidden divergences. The indicator is customizable as it has RSI and MA trend filters which enable users to filter out the strongest setups.

Another advantage is that the indicator writes signals onto a file that can be used by an Expert Advisor for those interested in Auto Trading. Users can also choose between setting only the main indicator/oscillator (only receive alerts when there is a divergence on the selected oscillator/indicator), setting both the main and second/third indicator/oscillator + the time frame for the second/third divergence or setting both the main and second/third indicator/oscillator and leave the default value Current as the second timeframe (receive alerts when there is a double divergence on each time frame selected by the user).

Some other features that this indicator has to offer are; the ability to monitor all symbols that are in the user’s market watch window simultaneously sends real-time alerts when divergences are identified and an interactive panel. This indicator can detect divergences on a number of indicators/oscillators including; MACD, Stochastics, OsMA, and CCI amongst others.

Service Cost

This indicator comes at a price of $39 for those looking to purchase it, or it can be rented out for $12 a month. Fortunately, traders can test out this indicator and its functions free of charge on the free demo that is available.

Conclusion

The Double Divergence Scanner has a number of positive reviews online from users that have been using the indicator for quite some time. One user said, “I love trading divergence and to me a double divergence is the perfect opportunity to confirm”. The creator is continuously improving this product by taking note of user comments and recommendations. We highly suggest checking this indicator out if you are looking to trade divergence!

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/29221

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Market Profile Volume Relative Accumulation Indicator Review

The Market Profile Volume Relative Accumulation Indicator was launched back in 2016 by creator Sergey Efimenko. Over the years Efimenko has released a vast number of products for traders with some of them having very positive reviews whilst on the other hand, some were not that well received. The same goes for this particular indicator we will be looking at today, whilst some users found it very useful, others felt it was not an indicator worth purchasing. Read this review to determine whether investing in this indicator would be beneficial to you and your trading.

Overview

This indicator, that is meant to be used on the MT4 platform, displays the conditional price tick volumes that are added over a set time interval. Users can adjust a number of different parameters including the length of the displayed price bands, the step of price-volume distribution, graph colors, the lines style used on the charts, and users can also add object descriptions on the price levels.

The most recent version available of this indicator, version 1.3, has seen an update to the algorithm for adding volumes.

Service Cost

The Market Profile Volume Relative Accumulation Indicator can be bought for $30 or users can choose to rent it out for $10 yearly, which is quite cheap. There is also a free demo that is available for customers to test out the indicator before actually purchasing it.

Conclusion

The reviews for this indicator are quite varied, whilst one user commented that this indicator is a convenient indicator to use, another mentioned it is ‘useless are there is no money back graph’. On the other hand, the creator seems to be very in tune with the user’s comments and he does try to adapt and take in user comments to improve this indicator. If you’re interested in what this indicator has to offer, try out the free demo and test it out yourself to determine whether it is useful for you and your style of trading.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/15009

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ACPD Auto Candlestick Indicator Review

ACPD Auto Candlestick is an indicator for MetaTrader 5 that can be found on the MQL5 marketplace, there may be other indicators with a similar name so we have included the link so there is no confusion as to which indicator we are reviewing.

https://www.mql5.com/en/market/product/677

The current version of this indicator is version 1.0 and it has received no updates since going live on 30th January 2013.

Overview

The ACPD Auto Candlestick is an indicator designed to work with the MetaTrader 5 trading platform.

The main features of this indicator:

Determining 40 reversal candlestick patterns by their main parameters; it displays over 40 signals based on these models.

Each signal is displayed with an arrow above or below the last candlestick in a model, the direction of the arrow indicates the forecast direction of movement of the chart.

The indicator includes 10 patterns based on one candlestick, 10 patterns based on two candlesticks, and 20 patterns based on three candlesticks. Depending on the number of candlesticks in a pattern the caption text has a different color (can be set in the parameters).

Each caption of a pattern indicates its name, the strength of the “S” signal (calculated in percentage terms using an empirical formula) that shows how close is the pattern at an ideal one, and the trend coefficient “T” (calculated on the basis of three candlesticks using a scoring system) that shows how close it the trend to an ideal one.

As mentioned there are over 40 different candle patterns available on this indicator, these include:

  • Hammer
  • Hanging Man
  • Inverted Hammer
  • Shooting Star
  • Spinning Top
  • Doji
  • Long-Legged Doji
  • Gravestone Doji
  • Doji Dragon
  • Doji Four Price
  • Engulfing
  • Harami
  • Harami Cross
  • Piercing Line
  • Dark Cloud Cover
  • Doji Star
  • Meeting Lines
  • Kicking
  • Homing Pigeon
  • Matching Low
  • Morning Star
  • Evening Star
  • Morning Doji Star
  • Evening Doji Star
  • Abandoned Baby
  • TriStar
  • Upside Gap Two Crows
  • Unique Three River Bottom
  • Three White Soldiers
  • Advance Block
  • Deliberation
  • Three Black Crows
  • Identical Three Crows
  • Two Crows
  • Three Inside Up
  • Three Inside Down
  • Three Outside Up
  • Three Outside Down
  • Three Star In The South
  • Stick Sandwich

There are also a lot of parameters that can be altered, some of these include buffer candles, colors for down and up arrows, test sizes, box colors, and more.

Service Cost

The indicator currently costs $50 to purchase outright, you are also able to rent it on a monthly basis and will cost you $10 per month to do that. There is a free demo version available, however, we are not sure what the limitations to this demo account are, but would always suggest downloading and testing it out.

Conclusion

There is just one review available for this indicator, it is a 3/5 star review.

“Would have been a good idea to have provided a visual indication as to whether the recognized candlestick pattern is by convention indicating indecision, bullish/bearish trend reversal or continuation trend in the market. Very good app for associating the name with the visual appearance of the candlestick patterns provided for by the app.”

As there aren’t too many reviews available, we would recommend checking out and using the free demo version just to make sure it has the functions that you need and that you are able to successfully set up the indicator to work as intended.

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ACE Oscillator Adx Plus Double Keltner Bands Review

ACE Oscillator Adx plus Double Keltner Bands can be found on the MQL5 marketplace, we have provided a link to the indicator below.

https://www.mql5.com/en/market/product/5781

The indicator was uploaded by Alberto Cejudo on the 1st of September 2014, it was uploaded as version 1.1 and has received no further updates.

Overview

ACE Oscillator Adx plus Double Keltner Bands is an indicator for the MetaTrader 4 trading platform, the indicator is an Oscillator that is based on ADX Crosses and also the Doubly Keltner Channels Crosses too.

The main set of features for the indicator:

-The colored histogram shows D+/D- crosses on-trend (green up/salmon down or without trend (white) based on ADX main (over ADXon level -ie. 24-).

-Signals (arrows) shows high probability orders (long/short) based on D+/D- crosses.

-Color line (green/salmon) shows ADX main less ADXon level (ie: ADX main – 24) for trend purposes (trending in/out).

-Signals (horizontal gross lines) on level +20/-20 indicate the first derivation of KC band (k shift) is crossed, and signal (gross lines) on level +30/-30 indicates the second derivation of KC band (n shift) is crossed too.

There are also a number of different parameters available, some of them include the ADX period, limits for ADX trending, MA periods, ATR periods, k shift, n shift, and more.

Service Cost

There is not the opportunity to purchase this indicator outright, instead, you will be required to rent it on a monthly basis and will cost you $10 per month. There is a free version available. However, the limitations of this free version are not stated on the site and are unknown to us. Even so, it may still be worth downloading it to try out.

Conclusion

There is only one review available which is giving the indicator and overall rating of 5 out of 5.

“Convenient” – A 5-star review.

The review doesn’t give us a whole lot of information apart from the fact that it most likely works, due to there being no other reviews or comments, we would strongly suggest that you download and try the free version, you could also contact the developer if you have any questions that way you can be sure that it will do what you need it to be froe you rent it.

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Abiroid GMMA Trend Scanner Dashboard Indicator Review

The Abiroid GMMA Trend Scanner Dashboard can be found on the MQL5 marketplace. There may be others with similar names so we have provided a link at the end of this review to the exact service we are looking at.

The indicator was uploaded by its creator Abir Pathals on the 22nd of May 2019, it has been updated a few times with the latest being on the 18th of March 20209, the indicator is now at version 1.7.

Overview

The Abiroid GMMA Trend Scanner Dashboard is an indicator designed for the MetaTrader 4 trading platform. The indicator works by finding food trades using the GGMA method as a base and then the TDI method to verify the trends.

How the scanner finds trades:

-When short GMMA crosses Long GMMA upwards it will wait for some bars (customizable) for TDI to show a strong BUY trend.

-When short GMMA crosses Long GMMA downwards it will wait for some bars (customizable) for TDI to show a strong SELL trend.

There is also a host of settings that can be changed to slightly alter the way that the indicator works and displays its information. Some of the settings include the pairs to use, the preferred time frames, alert settings, font sizes, colors, and more.

Service Cost

The Abiroid GMMA Trend Scanner Dashboard can be purchased for $40, this will give you unlimited access to the indicator, it can also be rented, you will be charged $10 per month for the monthly rental or $20 for three months. There is a free version available, however, the limitations of the free version are not currently known to us.

Conclusion

There are just three reviews available for this indicator, they are all giving it a 5 out of 5 ratings.

“Best one!”

“Great Product!”

“Useful Indicator. Outstanding Customer service.”

The last review also pointed out the customer service, looking at the comments, the creator is replying to comments (although there aren’t many of them) which is great. As with any indicator or expert advisor, we would highly recommend that you test out the free version prior to making a purchase, his way you can make sure that it suits your needs and that you are able to get it all set up and working correctly.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/38747

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Resistance and Support Zones Indicator Review

The Resistance and Support Zones Indicator was published back in July 2016 by Filipe Acerbi, a creator who has other products available such as the Price Pressure indicator. A few months after being published, the Resistance and Support zones indicator was updated and it now offers its 1.3 version. Keep reading to find out more about this indicator and how it can be used to maximize your profits when trading.

Overview

This indicator makes use of a mechanical approach to recognize resistance/support zones and simultaneously assess their level of strength resulting in a clear indication of which price zones are more important to the trader than others. According to Acerbi, the creator, this indicator was created to try and eliminate subjectivity rules when drawing support/resistance zones.

The price action can perform a breakout or a reversal when it reaches a particularly important price zone and this creates great trading opportunities. To be able to do this, the indicator is programmed to search for tops and bottoms to build the support/resistance zones. Those making use of this indicator can set the top/bottom parameter themselves. Apart from recognizing these resistance/support zones, this indicator also assesses the strength level of each price zone identified.

The strength of these zones is measured by analyzing the price action when the market reaches that particular price zone. Price zones with higher levels of strength means that price actions will correspond powerfully to this price area. The level of strength and weakness for each zone is outlined on a chart. Traders making use of this indicator can also apply a Strength Level filter and as a result, the indicator will smooth out the weaker price zones.

The indicator uses a number of criteria to define the level of strength of each price zone such as; how many times the price reacted strongly to the specific price zone in the recent past, how many times the price zone worked as a barrier to the price advancing and also how many times the price used this area as a support. For those who feel that the set-up is a bit too busy, they can manually turn off/on any specific price zone by clicking on the checkbox.

This indicator has a number of key features apart from those we’ve already mentioned such as; it works on every symbol and timeframe, it can be used in conjunction with higher time frames, price zones can be compared and traders can turn their focus onto the stronger ones and it also has accessible buffers for EA developers.

Service Cost

This indicator can be purchased for $50 and it is also available for rent at $10 a month. Those interested in trying out this indicator before purchasing it can do so by downloading the free-demo, this is only available to those who have the MT4 platform already downloaded onto their device.

Closing

An online review that we found stated that this indicator is not worth the $50 as similar indicators are available for free, however, we also found some comments which praised this indicator. It would be a good idea to test out the demo version to determine whether this indicator could be beneficial to your trading or not before spending the money.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/17525

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Correlation Table of 28 Currency Pairs Indicator Review

The Correlation Table of 28 Currency Pairs is an Indicator created by Sayed Eshan Razavi back in April 2017. Razavi has another Correlation indicator available for traders and both products have been received very well by users around the globe. The Indicator we are reviewing today continually being updated and improved, with the most recent update being made on the 21st March 2020 which released version 1.7 of this indicator. Read through this review to get a better idea of what this Indicator has to offer.

Overview

This indicator calculates the correlation among different currency pairs that are selected by the trader. The correlation available ranges from -100% (representing the currencies that are moving in opposite directions, aka negative correlation) to +100% (represents the currencies moving in the same direction).

Users can choose their own preferred 28 currency pairs to monitor as well as the Calculation Time Frame which sets the time frame in which the users want the calculation to be done. This indicator was created to be used on the MT4 platform, however, in December 2019, an MT5 version of this indicator was added on the market.

The Indicator is quite customizable and users can choose to change the High Positive or High Negative Colors and also the Calculation Mode which can be either Range Mode, which calculates the correlation based on ranges in the past bars (Range = High –Low) or Class Mode, where the correlation is calculated on the closes of the past bars.

Service Cost

Traders wanting to make use of this indicator can do so by purchasing it for $40 or renting it for three months for $25. The positive reviews and comments found online suggest that this indicator is definitely worth the money. For those wanting to test out the indicator without actually spending money on it can do so by downloading the free demo that is available.

Conclusion

As we’ve mentioned, the reviews for this indicator are very positive with one user stating that this tool is “Indispensable for day to day operations”. Other users stated that this tool saves them a good 15 minutes of analysis for every pair and in the trading business, time is literally money. Another very positive point is that the creator, Sayed Ehsan Razavi, is constantly changing and updating the indicator based on the user reviews that he receives, which means the indicator is continually improving. Apart from this, the creator also uploads videos so that users can fully understand the updates being made and how they can incorporate them into their daily trading.

Based on the reviews and the fair price of this indicator, we highly suggest that you check out the Demo version to see if being able to see and monitor all currencies (to a max of 28 at a time) and how they correlate will help you to yield the best results from your trading activities.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/22548

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Forex Services Reviews-2

Tipu Candles Pattern Indicator Review

The Tipu Candles Pattern was made available by Kaleem Haider in January 2016. This product is built on the Japanese technique of charting that has been around since the 17th Century. Haider has a number of successful products available such as the Tipu Trend Dashboard and Tipu Heikin Ashi Panel, which have been very well received by traders in the past. At this moment, traders can purchase or rent version 1.10 of this Tipu Candles Pattern Indicator.

Overview

The Tipu Candles Pattern Indicator uses the candlestick pattern class by Metaquotes however it has been re-written to suit MQL4 and it has been combined with the panel class written for the Tipu Panel. Some of the main features of this indicator include; a visual display of the last candle of the pattern as well as the age of the pattern, a number of alerts that are customizable such as; push alerts, email alerts, on-screen alerts and Buy/Sell alerts and its supports Multi Time Frame Candle Patterns.

The main task of this product as a pattern recognition indicator is to visually mark patterns, along with their age, on a chart to make it easier for traders to take notice and act upon specific indications.

This product is very customizable with a number of parameters to set such as; Bearish/Bullish/Neutral Pattern colors – allows traders to choose the color that will be used to mark the chart, Box Line Style/Width, Max Candles to Check, Signal Setting, time frame setting and also a number of alerts that can help traders stay on top of all the market movements that might affect their trades.

Service Cost

Traders can purchase this Indicator for $30 and it is also available for rent at an affordable $10 per year. If you want to test this product out without spending any money, there is a free demo available to all traders that would like to see the product in action.

Conclusion

From what we could see, the overall feedback for this indicator is quite positive and it seems to work very well with the Tipu Trend Indicator when this is combined with high probability patterns such as Englulfing. A common disadvantage that seems to be limiting customers from purchasing and using this product is the fact that it is only available in English for the time being. If you’re interested in finding out more about what this indicator has to offer, download the Demo Version and test it out for yourself.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13428

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Forex Services Reviews-2

TIPU Parabolic SAR Dashboard Indicator Review

The Tipu Parabolic SAR Dashboard was published in June 2016 by the creator Kaleem Haider. Haider has a number of Tipu Indicators available for purchasing and his main aim is to make trading easier for traders around the world. Currently, Haider is offering version 2.10 of this indicator, with the latest update being made a couple of years ago in October 2018. Take a look at this review as we highlight the main features of this indicator and how it can be used during your trading.

Overview

The Tipu Parabolic Dashboard is a multi-timeframe, multi-currency indicator that can help traders to analyze markets in a quick and efficient manner. The SAR (Stop and Reverse) is a method developed J. Welles Wilder that is a trend-following indicator that is used mostly for trailing stop (a type of stop-loss order that moves relative to price fluctuations).

Using the Tipu Parabolic SAR Dashboard, users can swiftly change the periods and symbols through this dashboard, so this indicator is ideal for those traders that tend to miss out on great trade opportunities whilst going through browsing charts manually. Another cool feature of this indicator is that it adds alert features on email, on-screen, and even on mobile so you’ll always be informed on time.

The two main features of this indicator are; a number of customizable alerts including buy/sell alerts, push alerts, email alerts, or visual on-screen alerts and a very customizable panel that can be moved on any place on the chart or minimized to de-clutter your screen.

Service Cost

The Tipu Parabolic SAR Dashboard can be purchased for $30 or it can be rented for $10 yearly. For those traders that would like to test it out before spending money on it can do so by downloading the Free Demo.

Conclusion

This indicator seems to be quite well received by users however some did encounter issues with the indicator resetting the currencies chosen by them back to default, and unfortunately, this seems to be an ongoing issue.

If missing out on trades is something that you experience often, download the free demo available and check if this indicator and its alerts can help you in making the right decisions at the right moment.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/16139

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Forex Services Reviews-2

Shepherd Safety EA Review

The Shepherd Safety Expert Advisor was published in September 2017 by the well-known creator Alexander Nechaev. Nechaev has over ten products available and all of these products have very high ratings online, including the EA we will be looking into today. This product has had a number of updates and it is currently on version 4.0 that has added filters and updated processing of the advisor panel buttons. Based on user reviews we found online, we highly suggest that you read through this short article to find out if this product can help you trade more efficiently and successfully.

Overview

The Shepherd Safety EA is compatible with the MT4 platform and it is suitable for any instruments and any timeframes. The main functions of this product are; opening and maintaining new market orders, turning unprofitable orders into profitable ones by using an internal loss handling algorithm and trade filtering. If for some reason, the additional order opened by the utility does not result in a profitable trade, a Stop-Out is provided. Users can choose to use this product as a supplement to their trading strategies or as a self-operating trading system.

Service Cost

The cost of this product is relatively cheap, especially when taking into consideration the positive reviews left by users. If you’re looking into investing in this expert advisor, it will cost you $30 to purchase it or you can choose to rent it out for $10. The creator has also included a free demo for those who would like to test the product out before purchasing or renting it.

Conclusion

The feedback for this product is overwhelmingly positive. Some comments left by users are “I trade manually with this tool and I can say I have no doubts about its powers”, “For $30 it’s a present, Actually, it’s an insane deal for this price” and “I can’t believe how good this EA is, if you are struggling as a manual trader then this is the perfect tool for you!”. Apart from positive comments regarding the product itself, users also commend Alexander Nechaev for his creativity and the interest he takes in ensuring his products are the best that they can be.

If you’re interested in starting using an EA to help you with your manual trading, we believe this product can be highly beneficial, especially at the relatively low price tag it currently comes with!

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/25418

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Forex Services Reviews-2

EA Prototype Reverse Review

The Prototype Reverse Expert Advisor was made available in September 2019 by the creator Svyatoslav Kucher. Kucker has an extensive list of available products ranging from indicators to expert advisors. The EA we will be looking at today has not had any updates made since 2019 and unfortunately, there are no reviews about it at the moment. Read through this review to get a better idea of what this Expert Advisor does and how it can help you increase your profits when trading.

Overview

The Prototype Reverse EA uses order averaging to avoid losses when prices move in the opposite direction from the initial entry. The EA basis its entrance according to what happened in the first order, ie, if the first order is closed at a profit, the next order is opened in the same direction in the hope of achieving the same results and vice versa; if the first order is closed at a loss, the next order is opened in the opposite direction.

There are a number of parameters that can be set by the users including; language, the maximum number of open orders at one given moment, the take profit value in points, the percentage of margin, the width and style of the lines and also the ability to delete the order history from the price chart amongst many others. This EA is extremely customizable and you can find the full list parameters on the website.

Service Cost

The cost of the Prototype Reverse EA is $35 for purchase or $15 monthly. Users can also choose to test out the free demo which is available before investing in this product.

Conclusion

Unfortunately, there are no user reviews or comments regarding this product at the moment, and from 46 people that downloaded the free demo, only 5 of them decided to purchase it. If you think this EA can help make your trading more profitable, we suggest downloading the free version to try it out first hand and determine whether it can be beneficial for you.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/42060

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Forex Services Reviews-2

DSZ Mini Charts Indicator Review

The DSZ Mini Charts Indicator was created by Dariusz Szewczyk back in June 2016. Szewczyk has two other similar indicators available for purchasing however they do not seem to be very popular amongst traders. This indicator can be used on the Metatrader 4 platform and it has so far only had one update meaning that users can currently purchase version 1.2 of this indicator. Read through this review to determine whether this could be useful for you and your unique trading style.

Overview

This indicator’s main function is to display a bar chart for specific symbols at any given time period. It is mainly used to implement a top-down investment approach which is an investment analysis technique that first looks at the macro picture of the economy and then looks at the smaller factors in even finer detail.

The DSZ Mini Charts available have a number of interesting features including unique statistical bands, the elapsed time count, specific information about orders, the option of rounding numbers, saving and loading graphic objects, up to nine charts per row and pivot support and resistance levels.

Users can also customize the charts in a number of ways including the style and colors of the charts, color schemes for the volume and the price, and an adjustable symbol and timeframe for every chart.

Costs

This indicator can be purchased for $39 or it can be rented out for $10 for one month, $19 for three months, or $29 for six months. There is also a free demo available for those wanting to test it out before purchasing or renting it.

Conclusion

Although the Demo version of this indicator has been downloaded more than 100 times, only 10 traders have decided to purchase it. Unfortunately, there are no ratings or reviews available for us to share with you so for those of you who would like to find out more about what this indicator can offer, we suggest that you download the free demo and check whether these mini charts can be beneficial to you and your trading.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/16299

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Forex Services Reviews-2

Critical Support and Resistance Panel Indicator Review

The Critical Support and Resistance Panel was published back in June 2016. The creator, Wang Yu, has published over 50 indicators in the past and most of them seem to be well-received traders.

This particular Panel indicator has only had one update that was done after one month of its launch, so users can now download version 2.0 of the Critical Support and Resistance panel that can be used on the MetaTrader 4 platform.

Overview

The Critical Support and Resistance Panel is an intuitive graphic tool that can help users to monitor closely and manage critical support and resistance price points quickly and easily. All the information can be viewed on one panel making it easy to follow and take action at the right moment. Support and Resistance levels are used to identify price points on charts where, for a variety of reasons, the probabilities favor a reversal or a pause of a prevailing trend.

This indicator was designed to help traders monitor and take full advantage of critical support and resistance areas such as pivot support 1/2/3, pivot resistance 1/2/3, daily/weekly/monthly pivot, and daily open.

This indicator alerts the user once prices move close to these support and resistance warning areas that the users themselves can adjust beforehand. Apart from receiving a notification, users will also see the indicator panel change its color to red to make it more noticeable.

With these features, users will be informed and make the right decisions at the right time without having to constantly monitor charts all day long. To minimize the number of alerts users will receive, once notification of a particular support and resistance zone is sent, the next alert will be sent after 5 minutes to avoid numerous alerts being sent continuously that can be irritating for users.

Here are the main three features of this indicator; the ability to adjust the warning range for each type of critical support/resistance, the ability to select which critical support/resistance is to be used (if the user does not specify this, by default, all are selected) and the ability to adjust the position of the indicator panel.

Cost

Customers wanting to purchase this indicator can do so for $10. Unlike many other indicators available, this one cannot be rented out. Luckily there is a free demo version that can be tested before actually purchasing it.

Conclusion

Currently, there are no user reviews that we can share with you so we suggest any of you who would like to test this indicator out to download the free demo to see if this panel’s alerts and notifications can be beneficial to your trading.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/17122