Indicator iPump is a trading indicator that was published to the mql5 marketplace in July of 2019 by the multi-product author Sergei Lanin. It was last updated to version 3.10 three months after being released.
Overview
This indicator works to find the trend using an algorithm that the author has found resourceful enough to use in more than one product. It combines certain advantages that we would see in a variety of indicators, including a multi-step trend detection indicator, a levels indicator that determines support & resistance levels, an oscillator indicator that defines overbought & oversold zones, and a market screener. You’d typically find these features in separate indicators, so the fact that they are combined here makes this option both convenient and money-saving.
The indicator doesn’t repaint, is accurate, and processes incoming price data by the second. Determination of resistance and support levels is another highlight, as the indicator will identify verified levels, turning levels, and weak or untested levels. It also works on the most popular trading platform, MetaTrader 4.
Service Cost
This indicator is for sale for $40 USD. The author has combined the benefits of multiple different types of indicators into this product, so this could be a cheaper route than purchasing three or four separate products. It would be helpful if the author would allow traders to rent at a lower price, but the demo version does make testing possible.
Conclusion
Indicator iPump essentially combines four separate types of indicators into one product for a portion of the price. Using a unique algorithm, it scans the market and provides traders with a better sense of which trades to place based on the trend, support & resistance, and other factors. Overall, this indicator has received a 4 ½ star rating from the community, along with some supportive comments.
For example:
“A good comprehensive pack which helps me a lot. Recommended.” -dor2020
“It’s a useful indicator where you can see the trend, resistance, and support and also if the pairs are oversold or overbought. Great!” -Marcello
“Great indicator – using with support and resistance trading and an EA. Good support, and addresses questions/comments quickly” -mcd55
Although the product can’t be rented, the general idea behind it and the fact that others have found it to be an effective tool seems to make it worthy of its $40 price. Of course, you’ll always want to use these types of tools wisely and possibly in combination with a good EA and a reputable broker that doesn’t charge a high spread.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/39895
