Forex Service Review

Swing Master Indicator Review

Swing trading usually means catching trends and keeping positions open for a day to a few weeks, as long the trend is sustained. Swing Master does not quite act as a trend confirmation tool but more like a continuation entries indicator. It was first published on the MQL5 market on 25th November 2014 and has never been updated. The author is Michalis Phylactou from Cyprus which has at least 15 other products on the market, some of which have great popularity and ratings.

This is not the case with the Swing Master indicator, and it is probably the reason it was never updated. Another fact about the Swing Master is that it is specialized and not a complete solution most of the beginner traders will seek. The Overview page will give you a brief description and almost no info about what determines the signal.


Traders who focus on trend following strategies and have developed systems may find some value with this indicator. Once you enter the trend, it is common to see changes in the momentum that may cause you to exit too early missing another trend impulse. This will happen especially if your main trend exit indicator is more sensitive. Swing Master will give out signals where you can reopen a position in the prevailing trend. Of course, having such a specialized indicator requires that traders have a trading system.

Swing Master has 3 types of signals generating on the MT4 chart. Based on the values range of -100 and 100 the trend and extremes are registered. Therefore, this indicator is based on the oscillator indicator combination that is mostly used as reversals. Now, this means the signals will be generated before the trend momentum resumes. Therefore, the Swing Master does not signal if the trend momentum is extinguished, and if the major trend will continue.

The indicator will assume the trend and continue to generate the signals based on few overbought and oversold levels. At its core, this is a risky proposition. Another issue with this indicator is that it will probably conflict with your exit indicator, giving you a buy or sell signal when your exit indicator tells you to close positions. To compose the Swing Master with your system will require a lot of testing.

The histogram part of this indicator shows the major trend. Green and red shaded bars show the bullish or bearish trend. Extremes are marked with an “X” on the histogram, also colored in green or red. In conjunction with the trend and the oversold/overbought levels, the arrow will be generated which means to enter a continuation trade. Swing Master will work on any timeframe although the author recommends M30, H1, H4, and Daily, probably because of smoother trends.

The setting panel will allow users to set only basic parameters. Maxcandles setting adjusts how many histogram bars are drawn in the indicator, to adjust to computer performance. This may mean the indicator is heavy and cause MT4 crashes. The trend level setting is the main parameter you will use to adjust the indicator to your system as it is defining the threshold for the arrow or trade entry. Other settings are related to the alerts, the notification methods, only on one candle, email sending, etc.

Service Cost

Swing Master cost is $30 with 5 activations, with no option to rent it. A demo is available and has been downloaded just 363 times, showing very low popularity.


Based on the screenshots we have noted the author did not present the trading logic very well and that the signals are not precise, even wrong in some places. In certain circumstances, the indicator is also filtering some of the noise, only when the oversold/overbought and the histogram are aligned the signal is generated.

There is just one review with a perfect score and it reads as follows:

“Very good indicator. It complements my trend following strategy by catching more pips instead of picking tops in uptrend and bottoms in downtrend.”

Low popularity comes not just because the indicator is specialized and requires a system, but also because it is based on small reversals, it is not reliable enough, and the presentation does not disclose enough information. Experienced traders will pass on this one also because it is hard to adjust.

This Forex service can be found at the following web address:

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