Home Forex Service Review Infinity TrendLine Indicator Review

Infinity TrendLine Indicator Review

491
0

Infinity Trendline is a trend following indicator with integrated solutions for Taking Profit and Stop Loss management. It is developed for the MetaTrader 4 and 5. It was a top free indicator once it showed up in November 2018 on the MQL5 market and since it has received many updates. New things are mostly about adding features and updating the code, enriching the indicator with new goodies. The latest update sets the version to 52.0 and is updated recently, in March 2020. Evgenii Aksenov is the author of this popular indicator/ trading system consisting of few indicators. Main takeaways are the easy-to-use trading signal system, good support, and the fact this is a free indicator that is usable even though the PRO version has more features.

Overview

Infinity TrendLine mainline may look like a kind of Step Moving Average. The author is not very clear on the inner workings on this main trend confirmation indicator but based on the settings we believe it is the ATR or Average True Range, a classic one for measuring volatility. In the Overview page, this is just explained by analysis of the average range of bulls and bears. The indicator will show you a trend signal with an arrow and it will automatically calculate 3 Take Profit levels and a Stop Loss. There is a panel on the side that shows you the probability of the price reaching the first, second, and third Take Profit. Based on this you can trade signals with the highest probability. Note that the free version will not give you the Take Profit 2 and 3, the result based on historic trades will not be shown, and many of the customization options are turned off.

Consequently, the free version feels like a marketing tool, and judging by the Overview page full of marketing cannons, the developers are heavily oriented to sales. This is not always a bad sign, the free version still has some usability. You will have a quick symbol selection pane once you click the “Free” button with the timeframes and the success percentages on each, giving you the ability to scan for the best opportunities. This rounds up on how to use the indicator, each signal optionally has a higher timeframe filter for better noise signals reduction.

These functions are available in this free version. Unfortunately, a good portion is left out, such as calculation type option, amplitude settings, Take Profit and Stop Loss settings, and adding custom symbols for the probabilities scanner. In the early days, the indicator had Amplitude, Period, and other settings for the Zig Zag indicator were available, but it seems the free version is updated in favor of the PRO, therefore becoming the sales channel. Even the screenshots on the Overview page are using the PRO version, and the feature list presents only what is in the PRO. Furthermore, if you buy the PRO version you are offered with other accompanying indicators from this developer for free, such as the HTF_Histogram indicator which seems to be necessary to determine the Higher Time Frame trend. More bundling sales techniques are evident. The developer will offer another indicator for free with the purchase of two of their products.

Conclusion

Infinity TrendLine with all these feature downgradings after each update still is useful as a trend baseline. Take Profit and Stop Loss levels can be used to a limited degree, but the true value of this line may be in its step-like plotting and a precise price crossing once the major trend is changing or losing momentum. As for the ratings, this one received 4.8 stars based on 60 reviews. 435 comments are signaling this indicator is still popular, giving traders a solid solution for trend trading. Although, most of the experienced traders will avoid such products providing automatic Take Profit or Stop Loss levels and the probabilities. These features are not transparent enough for them. Infinity TrendLine, even the PRO version is more for those that do not know to manage these key Risk Management levels and want a ready-made solution. As with all “All in One” products, they excel at nothing and are mediocre in everything. A notable hard to find average review is from Simone Gargano stating:

“The indicator is good, very easy to use and clear BUT as you may know before considering an indicator as good you would have tested it at least 6 months. I’ve loaded this indicator to my Koder Killer EA (used to test the indicators) and is not showing good results over the last 4 months like the indicator’s success rate shows (65%+ on average). I rate it 3 stars for this reason at the moment.”

All other positive reviews are a reason enough to test this indicator and if you need more options, consider the paid PRO version.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/33083

LEAVE A REPLY

Please enter your comment!
Please enter your name here