Tag: forex indicator

The Dashboard Stochastic Multicurrecy is an indicator that can be found within the MQL5 marketplace, we have added a link below so you can see exactly which indicator we are looking at. The indicator was uploaded by its creator Taras Slobodyanik on the 29th of January 2018, it has had a number of updates, the most recent update was on the 12th of March 2020 and this brought the indicator up to version 2.50.

Overview

The Dashboard Stochastic Multicurrency is an indicator designed for the Metatrader 4 trading platform. The indicator uses the Stochastic Oscillator to quickly show the current values and intersections of the lines. The indicator is able to send out notifications when the price crosses the overbought or oversold levels.

There are a large number of parameters that can be changed, these will alter the way that the indicator functions. Some of the available settings include the period of the K and D lines, the price field, time frames, offsets, colors for lines and text, overboard and oversold entry and exit zones, notifications via push or email, sounds, and many more options are also available.

Service Cost

Then indicator can be purchased outright for $30, this will give you complete access to it without any limitations, many indicators also offer the opportunity to rent it instead or purchase, however, the Dashboard Stochastic Multicurrency does not give this option and you are only able to purchase it. There is a free version also available, there will be some limitations to it, but we do not know exactly what they are as they are not stated on the site.

Conclusion

There are currently 4 reviews for the Dashboard Stochastic Multicurrency indicator, they are all positive and give an overall rating of 5 out of 5.

“Great product. Great value for money. It helps me in momentum swing trading when stochastics exits OS/OB areas. Good job Taras! And thank you for this brilliant work!” – A 5-star review.

“This dashboard works well as confirmation for my method….thank you” – A 5-star review.

“Great Dashboard… Thx!” – A 5-star review.

The reviews are all positive, there are also plenty of comments that the creator of the indicator has been replying to promptly which gives a good impression as to the sort of support you would receive. As with any piece of software, we would recommend that you download the free version try it out on a demo account just to make sure that the functions that it provides are what you are looking for prior to making a purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/27610

Candle Patterns can be found within the MQL5 marketplace, it was first uploaded on the 22nd of July 2015 by its creator Paul Geirnaerdt, there has been a recent update on the 28th of March 2020 which brought the indicator up to version 1.1.

Overview

Candle Patterns is an indicator that can be used with the MetaTrader r4 platform, its main purpose is to show popular candle patterns on the charts. There are a number of patterns available including Inside Bar, Large Wick, Engulfing, Marubozu, Hammer, Shooting Star, Three White Soldiers, and Three Black Crows. The candles will be colored to make it easy to identify the patterns.

There is also a large number of parameters available with the indicator, these include things like a message box, whether to show inside bars, to show large wicks, to show Doji, to show Engulfing Bars or any other patters, colors and more.

Service Cost

The Candle Patterns indicator can be purchased for $30, it can also be rented for three months for $12 or six months for $19. Whichever option you choose you will have up to 10 activations of the indicator. A free demo version is also available that can be tested with the strategy tester within the MT4 platform.

Conclusion

There are two reviews however only one of them has a rating and it has given the indicator an overall rating of 5 out of 5.

“Good candle patterns indicator” – A 5-star review.

“Color candle is not displayed” – No rating is given.

So one is positive while the other is stating that a feature was not working properly, we had a look at the comments section, the developer has been very active in replying to comments and offering support which is a great sign and is an indication for the sort of support you will receive should you decide to make a purchase or a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/10674

Beast Super Signal can be located on the MQL MArketplace under the indicators category. There is a link provided below that will take you to the exact indicator that we are looking at. The indicator was uploaded on the 2nd of September 2018 by Dustin Vlok and was subsequently updated on the 5th of November 2019 and is now at version 3.5.

Overview

The Beast Super Signal was created to be used with MetaTrader 4, it was designed to be a simple and easy to use indicator. It will constantly monitor the current price action while looking for new trends or strong reversals when currencies are overbought or oversold. Only when all the internal strategies are met, the indicator will paint a new buy or sell signal arrow onto the chart. It is then up to you to make the trade (this indicator does not trade for you).

The Beast Super Signal will give you entry levels, stop losses, and 3 different take profit level suggestions.

There are a number of different parameters that can be altered, changing them will slightly alter the way that the indicator functions, some of the options include how many bars to calculate, the overbought and oversold entry zones, take profit and stop loss levels, what sort of alerts to use, panel width and height, font size and type, and many other options are available too.

Service Cost

The Beast Super Signal can be purchased outright for $149, this will give you unlimited access without any limitations. As with many indicators on the MQL5 marketplace, you are also able to rent it on a monthly period, this will cost you $49 per month.

There is also a free demo version available, it will have some limitations and unfortunately, the limitations have not been states on the website, it would always be worth downloading just to make sure the indicator does, in fact, do what you need it to do.

Conclusion

At the time of writing, there are currently 51 different reviews, the overall rating from the revies is 5 out of 5.

“This is an outstanding indicator. It’s very precise and the alerts are very helpful to ensure I don’t miss any trades on the pairs I’m monitoring. Great work!” – A 5-star review.

“In my personal opinion, this isn’t a good indicator. they promise a 70% strike rate but in the long term its more like 20-40% also their way of calculation doesn’t make any sense. all the 5-star reviews here are worthless because you won’t receive the ea (which is even more useless than the indicator) if you don’t rate them 5 stars. if anyone wants some proof of a 1 year to backtest or so you can contact me.” – A 1-star review.

“The indicator makes my job easier when I do my entries. Thank you for the indicator fantastic. You can make it 100% unless you mark up your chart, using technical analysis and fundamentals. You can walk away on the signal if you see if the market is not right. highly recommended.” – A 5-star review.

As you can see, there are both positive and negative reviews but the positives far outweigh the negatives. The comment section of the page has plenty of comments, the developer has been replying to each one individually which shows that they are keen to keep supporting the indicator and those that have purchased it. As always, be sure to download the free demo version to try, also send any queries you have to the developer so you can be sure it will do what you need before you make a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/31436

Alpha N Trend Indicator can be found on the MQL5 marketplace, we have added a link to it below. The indicator was uploaded by Dzhafer Medzhakhed on the 25th of July 2014, it was uploaded as version 1.3 and there have not bee any updates since it was first added to the marketplace.

Overview

Alpha N Trend Indicator can be used with the MetaTrader 4 trading platform and is classed as an indicator. The way that it works is by using a powerful oscillator, it will provide sharp signals for trend following.

The indicator aims to be different from the usual indicator as it wants to give its signals early, towards the start of the trend rather than halfway through. The oscillator will be displayed at the bottom of the chart with green and red bars when the price is on an uptrend it will show green bars when it is on a downtrend it will show red. It is a signal to enter the market when the oscillator changes sign from red to green or green to red.

There are a few parameters that come with the indicator:

-Email_alerts: If equal to “true”, you will receive email alerts when there is a trend change (first green bar after red bars or first red bar after green bars).

-Sound_alerts: if equal to “true”, you will hear a sound alert when there is a trend change (first green bar after red bars or first red bar after green bars).

-Green_histo_width: width of the green bars.

-Green_histo_width: width of the red bars.

-SPEED: an internal parameter that controls the speed parameters of the indicator.

-DEPTH: an internal parameter that controls the depth of calculation of the indicator.

-Number_of_bars: number of the bar that is displayed by the indicator

Service Cost

The indicator can be purchased outright for $15, this will give you unlimited access to it, there is no option to rent the indicator so purchasing it is the only option available. There is a free demo version that will have some limitations, however, we do not know what the limitations of this version are.

Conclusion

There are just three reviews, they have given the indicator an overall rating of 3.4 out of 5.

“I would have given it a 5 star if it has a push notification feature. It does give you false signals but it does anticipate trend change much earlier. It is not a stand-alone indicator but works well in conjunction with others. If you ever make an EA on this one, please let me know.” – A 4-star review.

“Indicator, as any other… with many false signals. I wasn’t able to backtest it (Demo version), so I buy it – and regret immediately. It would be very nice that Lemmnos (member that posted the previous comment) illustrate somehow – why is that indicator “the best one”. That would be very interesting to see.” – A 1-star review.

“Best trend indicator I have tested so far. And I have tested all the trend indicators I could find. I would encourage others to try this indicator and ask questions and provide feedback via comments sections so we can all learn from each other.” – A 5-star review.

So a range of reviews are available, there are also a number of comments but the developer only replied to the first few, we would advise you to contact them with your questions prior to purchasing just to make sure that they are still actively supporting the indicator, we woulda so recommend downloading the free version just to check it out as the reviews are not all positive.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/5337

MACD Divergences can be found within the indicator section of the MQL5 marketplace, there may be other indicators with similar names so we have added a link below to help avoid any confusion. The indicator was first uploaded on the 12th of July 2018 by its creator Seyedfazel Hosseini, there have been a number of different updates, the most recent was on the 11th of June 2019 and is currently at version 3.4.

Overview

MACD Divergences is an indicator that has been designed for use with the MetaTrader 4 trading platform, the indicator has been designed to help find all the regular and hidden divergences within the markets. The indicator can function on multiple timeframes however it is not recommended that you use it on anything under the M15 timeframes.

The indicator is able to detect price pivots and will then check the corresponding value of the pivots on the MACD indicator when a divergence is detected, the indicator will plot bylines on the chart and oscillator.

There are some settings and parameters that can be changed to slightly alter the way that the indicator functions, some of them include whether to use fast or slow EMA, how to apply it and whether to show the line, you can also change the colors for divergence lines, thickness, style and whether you want there to be any alerts.

Service Cost

The MACD Divergences indicator is not available to be purchased outright, instead, you are required to rent it, you can rent it for a period of 1-month which will cost you $15 per month, you are also able to rent it for a year which will cost you $39 per year. There is also a free version available, you can download it and test it out, it is fully functional but will only work on the EURAUD pair.

Conclusion

At the time of writing, there are 8 reviews available which are giving the indicator and overall rating of 5 out of 5 stars.

“Simple and very effective. This indicator recognizes highly probable divergence, draws it out, and notifies you from different time frames. It gives me an edge in scalping and an extra confirmation for reversals. By far one of the best and most useful indicators on the market. A+”

“Perfect Indicator, It’s really admirable. Simple and efficient. I have not used divergences in my trades before, But now it’s my first plan for trading and I am very pleased. thank you, author.”

“Indicator is worth it…. nice Reversal recognizing working good so far”

So as you can see, the reviews are very positive, there are also a lot of comments on the indicator, the creator has been replying to them promptly and being very active which is a great sign as to the sort of support that you would receive. We would highly recommend that you download and try out the free version, while it may only be able to use it on the EURAUD pair, but it will still be a good way to ensure that it is what you are after before paying for a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/30390

Orders Indicator can be found within the MQL5 marketplace, it was created by Andrey Khatimlianskii. First uploaded on the 6th of December 2013, it was most recently updated on the 18th of December 2018, it is currently at version 7.52.

Overview

Orders Indicator has been created for use with the MetaTrader 4 trading platform. It is an indicator that will monitor your own trades and analyze others.

Some of the many features include:

-Change the size and location of the control buttons (Control buttons size, Control buttons corner)

-Disable display of opened and closed positions (Show OPENED, Show CLOSED, Show PENDING)

-Change colors of arrows and lines for profitable and loss-making buy and sell positions separately (Color for profitable/losing BUYs/SELLs)

-Change style and width of the lines connecting deal openly and close points (Open-Close lines width, Open-Close lines style), add text labels on that points (Open price labels width, Close price labels width)

-Enable display of a profit in deposit currency, points or % (Show profit in money/points/percents), configure profit display accuracy (Number of digits to show)

-Change text font and size (Font, Font size)

-Enable profit in points (Show profit in points)

Service Cost

There is not an option to buy the Orders Indicator outright, instead, there are options to rent it. You can rent it on a monthly basis which will currently cost you $10 for a three month period, you can also rent it on a yearly basis which will cost you $29 per year.

There is a free demo version available on the site, but the limitations of this version are not made clear, it may only be used within the strategy tester of the MetaTrader 4 trading platform.

Conclusion

The Orders Indicator has 37 different reviews from its users, they have given the indicator an overall rating of 4.5 out of 5.

“Awsome indicator to see if you have made the correct trade or if you didn´t apply your “trading plan”. The input “see the profit in pips” is very good to see the result of the trade in order to visual backtesting.” – A 5-star review.

“Best “History Arrow” indicator, also shows current live trades status. Love it!” – A 5-star review.

“This is one of the best indicators that I own and I will continue to renew it every year !!! I just wish that I could just purchase it outright.” – No rating is given.

The majority of the reviews are all very positive which is a good sign, there are also over 200 comments, the developer has been responding to the majority of them promptly which shows that they are still actively supporting the indicator and those that have purchased it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/2050

The Primus Trading Engine can be found within the indicator section of the MQL5 marketplace, there is a link to it below so you can see exactly which indicator we are looking at. The indicator was first uploaded by its creator Philip Muga on the 21st of August 2018, it has received a number of updates, the most recent were on the 16th of AMrch 2020 and this brought the indicator up to version 2.6.

Overview

The Primus Trading Engine is an indicator designed for the MetaTrader 4 trading platform, its purpose is to combine price action, ratio based indicators, and custom indicators to create a multi-timeframe approach in order to high probability trade setups for forex, CFDs, futures, metals and binary options.

The main features of the indicator:

Price Action Signal-Arrow displayed on a specific bar; NOT buy/sell arrow; DOES NOT repaint; Bullish arrow on a bullish bar, price is likely to go LONG; Bearish arrow on a bearish bar, price is likely to go SHORT; Bullish arrow on a bearish bar, price is likely going LONG momentarily before going SHORT; Bearish arrow on a bullish bar, price is likely going SHORT momentarily before going LONG.

• Entry Zone-Dynamic rectangular(Green/Red)box to show future price moves
• Green rectangle for LONG moves
• Red rectangle for SHORT moves
• When there is NO entry zone stay out of the market
• Target One-Dynamic low-risk target from the entry zone
• Target Two-Dynamic medium risk target from the entry zone
• Target Three-Dynamic high-risk target from the entry zone
• Stop Loss-Dynamic stop loss from entry zone
• Change Focus-When breached future price moves change from LONG to SHORT
• The following settings are recommended:
• Supports M1,M5,M15,M30,H1 & H4 for Forex,CFD Cash/Futures & Metals
• Supports M1,M5 & M15 for Binary Options
• Backtest on simulator FIRST then forward test on DEMO for at least 1 MONTH
• Trade one setup, one timeframe; Pick one, master one, trade one

Service Cost

The indicator is an expensive one, it will set you back $1,500 to purchase it outright with no limitations. If you do not want to spend that much you are also able to rent the indicator, you can rent in on a monthly basis for $75 per month, three months will cost you $150, 6 months will cost you $250 and to rent it for one year it will cost you $450.

There is a free demo version available to download, this version will have some limitations which are unfortunately not mentioned on the site, even with limitations, due to the price of the indicator we would recommend using the free version to test it out and to see if it has the functions you need.

Conclusion

It is unfortunate that there aren’t any reviews of the indicator to see what the people who have purchased it (if any) are finding it, there are plenty of comments, but they are all from the creator adding various bits of information or trade setups. Due to there being no reviews or comments, be sure to download and test the free version, also get in contact with the developer with any questions, this way you can be sure it suits your needs before making quite a hefty purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/30888

PZ Reversal Fractals MT4 is a piece of software that can be found within the indicator section of the MQL5 marketplace, there may be others with similar names, we have added a link to help avoid any potential confusion. The indicator was uploaded by its creator Arturo Lopez Perez on the 16th of August 2019, it was first added to the MQL5 marketplace as version 5.0 of the indicator and there have been no further updates since it was added.

Overview

The PZ Reversal Fractals MT4 is an indicator designed for the MetaTrader 4 trading platform. The indicator works by looking at the price structures of fractals to determine the possible reversal points within the markets, it will provide timing for positional trades that already have a fundamental and technical model.

The indicator is a lagging or reactive signal, the indicator will draw when all bars ina fractal close, it works well for those with an existing directional bias.

A few key features of the indicator:

• Reversal fractals can start long trends
• The indicator is non-repainting
• It implements alerts of all kinds
• Customizable colors and size

There are also a number of settings available to alter that can help adjust the indicator to suit what you need:

-Bars in Fractal: Amount of bars in each fractal. Must be an odd number such as 3, 5, 7, 9, 11, 13…

-Max History Bars: Amount of past bars to evaluate when the indicator loads

-Colors: customize arrows and lines colors and sizes

-Alerts: Enable or disable alerts of all kinds

Service Cost

The PZ Reversal Fractals MT4 is actually free to download, so there is no cost, you are able to download the full version completely free, no payments and no rental required. As the full version is free, there is no demo version available or needed.

Conclusion

At the time of writing, there are currently 16 reviews giving the indicator an overall rating of 4.5 out of 5.

“Awesome indicator, not 100% but no indicator is but damn it comes close!! and also it does not repaint big props” – A 4-star review.

“Love the indicator. Waiting for EA based on that from Arthur.” – A 5-star review.

“I really like this one and use it in most of my chart setups”

The majority of reviews ar every positive which shows that for the majority it is working as intended, there are a few reviews asking for help, there are also a lot of comments but no replies from the creator, so it is not clear if it is still being supported. The good news is that it is completely free, so it is easy to download and try it out without having to make a purchase of any kind.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/41310

Range Bars is an indicator that can be located in the MQL5 marketplace. There may be other indicators with similar names, so to avoid any confusion we have provided a link to the correct one below. The indicator was created by Artur Zas and was first uploaded on the 22nd of August 2017, it was last updated on the 4th of June 2019 and is currently at version 1.7.

Overview

Range Bars is an indicator that can be sued with the MetaTrader 4 trading platform. The indicator allows you to create custom range bar charts within the trading platform, it is recommended that you use the indicator on the 1-minute chart, but others also work.

There are a number of different settings available including:

Display settings:

• Display on an offline chart (M2, M3, M4, M6, M7, M8, M9 or M10)
• Apply a template to offline chart (name template to apply to the range bars chart)
• Automatically open offline chart (true/false)
• Build history for a number of days
• Reset Open on each trading day
• And more…

ATR based bar size calculation:

• Enabled (true/false)
• Daily ATR period
• Percentage of ATR to calculate candle size (high to low)

Alerts and Info:

• A sound signal on new bar (true/false)
• Only signal reversal bars (true/false)
• Use Alert Window to display signal (true/false)
• Sound file to play on the bullish bar
• Sound file to play on the bearish bar
• Color of High threshold indicator
• And more…

Service Cost

The Range Bars indicator can be purchased for $45, this is an outright purchase and will mean that you are able to use the indicator as much as you want, you are also able to rent the indicator on a monthly basis, this will cost you $10 per month. There is also a free version that you can download and try, this will have some limitations attached to it, but we are not sure what they will be.

Conclusion

There are two reviews available for the Range Bars indicator, they are both giving it 5 out of 5 stars which is a very positive start.

“Very good indicator, recommend!!”

“The Range Bars are awesome! fits perfectly into my strategy and much nicer and easier to trade than renko IMO.”

So both the reviews are very positive, as there aren’t many of them, we would recommend trying out the free version of the indicator, this will allow you to try it out and to make sure that you are able to get it set up and that it is in fact what you are looking for prior to making an actual purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/24912

RSL Classic MT4 can be found on the MQL5 marketplace under the indicators heading. It was created by Rene Patrick Sauerwein and first uploaded to the marketplace on the 7th of June 2018, there have not been any updates so the indicator is still at version 1.0.

Overview

RSL Classic MT4 was created for the MetaTrader 4 platform, its main intention is to look at the relative strength of the markets.

The key concepts of the indicator:

-You can use this indicator on several instruments to compare their relative strength: Values resulting from the analysis will oscillate around a value of 1.

-The strongest instruments will have the highest RSL values (above 1) and the weakest instruments will have the lowest RSL values (below 1).

-You might want to buy the strongest instruments (highest RSL values) and sell the weakest instruments (lowest RSL values) to follow trends.

Some of the key features of the indicator:

-Works on all timeframes

-Works for all instruments that are available in the Market Watch window of your MetaTrader 4

-The output value from the buffer is shown in the separate indicator window and in the Data Window

-The indicator can be used in Expert Advisors using the iCustom() function for automated trading systems

-There are also a number of parameters, these include the name of the asset to analyze, the MA period the MA mode, the applied price, and the colors used.

Service Cost

The indicator will currently cost you $30 to purchase it outright, this is a one-off payment and will allow you to activate the indicator up to 5 times. There is not an option to rent it so the purchase is the only option available. There is a free demo version that can be used with the strategy tester within the MT4 platform.

Conclusion

There are two reviews fort he indicator that has given it an overall rating of 5 out of 5.

“I’ve been waiting for this for a long time, thank you!!!” – A 5-star review.

“A good addition to any portfolio. Drag several Symbols onto one charts (ie EURUSD, EURGBP, EURCHF, EURAUD) if they are all above 1, its a safe bet to be stay long on EUR. You can wait until a couple indicators drop to 1, or Take Profit when you feel like it. if you wait till the indi goes back to 1, you’ll end up with roughly no profit, OR if it has caught a good trend, the profit can be good. A 50/50 with either small losses, or bigger profit is a good bet in my books. It needs to be on a high TF, forget about any minute time frame.” – A 5-star review.

So the reviews are both very positive, there is only one comment available which is from the developer themselves, this was back in 2018 so it is not clear whether it is still being actively supported, you should contact them to make sure they are still around before you make a purchase, just to be sure you will be able to get some help should you need it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/29839

Super Prediction System can be found on the MQL5 marketplace under the indicators section, there may be other indicators with similar names so we have provided a link below to the one we are looking at. The indicator was first uploaded on the 25th of August 2016 by its creator Ondrej Frlicka, it has has a number of updates, the most recent update was on the 17th of December 2018 and this update brought the indicator up to version 2.90.

Overview

The Super Predictor System is an indicator designed for the MetaTrader 4 trading platform. The indicator was developed as an indicator with the aim to show trading signals ahead of time. The indicator will not repaint and will not change a signal once it has been made.

The indicator will draw an arrow at the opening of a candle, it will draw it in the direction that the indicator believes the markets will move. If you hold trades and the indicator does not paint a new arrow, then it could be a signal to come out of the trade. If the arrow is against the way you are trading, then it is advised to close the trade.

There isn’t actually much information about how the indicator comes up with its signals, just that it does.

Service Cost

The indicator can be purchased for $99 which will give you limitation free usage of the indicator. You are also able to rent the indicator, this will cost you $59 per month to do. A free demo version is also available, this will have some limitations to it but we do not know what they are as they are no stated on the site, it may still be worth downloading to try out even with the limitations.

Conclusion

There are 23 user reviews at the time of writing, these are giving the indicator an overall rating of 4.5 out of 5.

“It is a moving average indicator. Put any moving average length on power x and that moving average indicator on top and you will see it’s just a moving average. it’s not tracking world banks. The things people say on mql4 market to sell indicators are ridiculous. I’ll give it one star for the lie. Shouldn’t be allowed to lie to sell and mislead people” – A 2-star review.

“Excellent indicator. It is absolutely great that the indication of signal is along with the opening of a new candle. The indicator thus displays a real reality! Not as the remaining 99% here on the market!”

“This indicator is very good and useful, I rent the application and then I had to buy it. Rcomendado.“ – A 5-star review.

The majority of reviews are very positive, there are also plenty of comments within the comment section, the developer seems to be replying to the majority of them which shows that he is continuously supporting the indicator and those that have purchased it. We would still recommend trying out the free version, just to make sure that it does in fact do what you need it to and hat you are able to get it set up and working before making a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/17988

The Tick Volume Chart is a utility that can be found on the MQL5 marketplace, we have linked to the utility below. The Tick Volume Chart was first uploaded on the 20th of February 2015, it was last updated on the 10th of July 2018 and is currently on version 2.1.

Overview

The Tick Volume Chart is a utility that can be used with the MetaTrader 4 trading platform. The indicator is designed to create charts with a fixed tick volume, data sampling is then carried out via tick volume and not by time, each bar will contain a certain amount of trading volume, these settings can be adjusted to allow you to choose how much volume should be in each bar.

It is super easy to set up:

• Open the Navigator window
• Drag the indicator to a chart
• Open a chart by clicking the Open Chart button

Service Cost

The Tick Volume Chart is available to purchase for $30, this will give you unlimited access to it, you are also able to rent the software for $10 per month, this will be charged every month that you wish to use it. There is also a free demo version available, this demo version will allow you to test out the software. We are not sure what the potential limitations of this free version are, as they are not mentioned on the site.

Conclusion

There is only one review available for this software, that one review is a 5-star review which is a good start.

“It works perfectly :)”

As there aren’t too many reviews available, we would suggest downloading and trying out the demo version so you can be sure that it works for you and that it functions how you expect it to, do this before paying for the software.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/5806

AMD Exclusive Two can be found on the MQL5 marketplace within the indicators section. It was uploaded to the marketplace on the 10th of October 2017 by its developer Szymon Palczynski. It received a number of different updates, one of its most recent updates was on the 4th of December 2019 and this brought the indicator up to version 3.60.

Overview

AMD Exclusive Two is a MetaTrader 4 indicator which was designed to be your main trading strategy and tool. It doesn’t actually tell us how it will analyze the markets or what it will actually be doing which is a little strange.

Some of the main features include:

• Automatic optimization
• Overbalance (manual, semi-automatic and automatic)
• Main and additional signals
• Fibonacci
• Pivot
• Linear Regression Channel
• Mini Tester
• Early warning system (yellow cloud on the chart)
• 3D effect

There are also plenty of parameters that can be altered, these include things like the ID, method of determining the trend, the AMD trend period, command manager, push notifications, colors, and more.

Service Cost

The AMD Exclusive Two indicator can be purchased outright for $88, this will get you 5 activations of the indicator. There is also the option to rent it, this can be done on a monthly basis and will cost you $30 per month to rent. A free demo version is also present, the details are not stated on the site so we do not know what the full limitations of the free version are, however normally when there are no details it will only be usable with the strategy tester within the MT4 platform.

Conclusion

The EA currently has three user reviews giving it an overall rating of 3 out of 5.

“Hi, Sorry to burst the bubble here guys. This indicator is an absolutely disgraceful product. If you email user 204214 (below review) he will tell you he has keys to the system but will never reply to after you purchase the product. if you leave this indicator on the chart the signals it gives are deplorable across all time frames. if you reload the chart they look like a dream indicator again. You understand what I mean. Personally don’t waste your time and money in this market place, it’s no good with all its false-negative energy and everyone knows it and nothing works and it’s a money pit to extract funds from you on the charts and in the market place. Buyer beware!!!!!” – A 1-star review.

“BEST EVER!!! READ MY COMMENTS…LOSER TO HERO” – A 5-star review.

So a mix of reviews, there are also a number of comments from people who are using the indicator, the developer had been replying to a lot of them, there has not bee a comment in 2020 so we would recommend getting in touch with the developer with any questions that you ay have, this way you can be sure that it will do what you need and that it is still being supported before you make a purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/25474

Bermaui Pin Bars and be found within the indicators section of the MQL5 marketplace, we have added a link below to the exact indicator to help avoid any confusion. Muhammad Elbermawi first uploaded the indicator to the MQL5 marketplace on the 2nd of August 2019, it was last updated on the 17th of November 2019, it is currently at version 2.1.

Overview

Bermaui Pin Bars is an indicator for the MetaTrader 4 trading platform, it was created to find Pin Bar price action patterns. The indicator also comes with a multi-timeframe candle direction panel and Bermaui Bands to help you figure out if the current trend it bulling, bearish or neutral.

The main features of the indicator:

• Draw Pin Bar patterns on the chart.
• Help the user to identify the trend depending on MTF Candles Direction Panel plus Bermaui Bands.
• A well-designed color list with two options (Black / White Background).
• Sound, email & mobile notifications depending on user’s choice.
• There are a few parameters that you can also alter, these include the colors, candles, and deviation multipliers.

Service Cost

The indicator can be purchase outright for $50 and will come with unlimited access with no limitations. If you would prefer, you can also rent the indicator this will for you $10 per month or $30 for three months of use. There is a free demo version but it will have some limitations which are currently not known to us as they are not stated on the website.

Conclusion

At the time of writing, there are 13 user reviews giving the indicator an overall rating of 5 out of 5.

“Great indicator, better than all the other pin bars indicators I have had in the past, truly amazing work. A tool all serious trader must-have. Thanks” – A 5-star review.

“By now faithful to your products, I have also acquired this .. together with others, great strategy!” – A 5-star review.

“Again excellent work! Very trustful developer, always purchase with confidence.” – A 5-star review.

So a lot of positive reviews which is great to see, there are also a number of comments, the developer seems to be trying to reply to most of them which show that he is still supporting the indicator, we would suggest trying out the free version, just to maker sure that the indicator is right for you before you decide to make a purchase or a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/40945

The Divergence Dashboard can be found on the MQL5 marketplace under the indicators category, we have provided a link to ti below just in case there are any other indicators with similar names. The indicator was first uploaded on the 13th of March 2019, by Jan Flodin, it received an update later in the year on the 23rd of December 2019 and is currently at version 1.6.

Overview

The Divergence Dashboard is an indicator for the MetaTrader 4 trading platform, the indicator works by sending alerts when one or two different divergences have been identified on a number of different timeframes. The indicator can be used on all timeframes from M5 up to MN and it possible to also use moving averages and RSI trend filters to filter out on the strongest signals. You can attach the indicator to a single chart and it will give you alerts for any symbols that you desire.

The main features of the indicator:

-Can detect divergences for following oscillators/indicators: MACD (signal line or mainline (histogram)), Stochastics, OsMA, RSI, CCI, Awesome, OBV, ADX, ATR, MFI, and Momentum.

-It is possible to select the time frames to be visible on the dashboard.

-Continuously performs a divergence rank sorting within the dashboard. It is possible to disable this sorting through to make it easier to find a specific symbol. The symbols will then be visible in the same order as they have been entered in the Symbols parameter or in the order they are visible in the Market Watch window.

-By clicking inside a rectangle a new chart will be opened with the symbol and time frame in question.

There are also a number of parameters available to change, these include things like the divergence settings, the MACD settings, symbols, and timeframes, moving averages settings, alerts, colors and text, trend filters, and many more options are available too.

Service Cost

The indicator can be purchased outright for $39, this version comes without any limitations, there is also the option to rent it on a monthly period, this will cost you $123 per month. The website shows that a free demo version is available to use and try out, the free version has some limitations, it can only be used on the EURSUD, GBPUSD, and USDJPY pairs and does not have support for mail or push alerts, even with these limitations we would suggest downloading and trying out the free version.

Conclusion

There are currently three different reviews for the Divergence Dashboard.

“Amazing indicator. It saves you a lot of time and helps you spot divergences very quickly (both = hidden and regular). It gives you a quick overview of the market in a blink of an eye. + Jan’s support is very helpful. I would highly recommend it.“ – No rating is given.

“Jan has surpassed his own ingenuity again! What a masterpiece for all Divergence Lovers.” – A 5-star review.

So the reviews are pretty positive which is a great sign, the developer has also been replying to comments in a prompt manner which shows that he is actively supporting the indicator and is giving a good quality customer support. We would recommend that you download eh free version and also get in touch with the developer with any queries, this was you can make sure that the indicator will do what you need it to do prior to making a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/36737

Created by Yasser Sabbaghi and uploaded it on the 12th of MAy 2016 to the MQL5 marketplace under the indicators heading, the Exponential Momentum indicator is certainly one of interest. It has received a number of updates, the most recent update was on the 26th of September 2017 and is currently at version 1.3.

Overview

Exponential Momentum is an indicator that was created for the MetaTrader 4 trading platform. It was created to act as a momentum indicator that will fade out the fake moves of the markets.

Some of the key features of the indicator:

• Smoothed to filter uncomfortable noises.
• Non-Lagging Exponential averaging.
• Line or Histogram drawing.
• Momentum on both bullish and bearish move.
• You can also use it like a CCI indicator.

It can be used in three different ways. As trend-following, GREEN for Bullish and PINK for Bearish. Take Buy position when the indicator makes a bottom and reverse upward or take Sell position when the indicator peaks and reverse down.

Momentum Strength, a higher value means higher strength. In case that this indicator reached extremely high or low values (relative to its historical values), you should assume a continuation of the current trend. For example, if the Momentum indicator reaches extremely high values and then turns down, you should assume prices will probably go still higher. In either case, only trade after prices confirms the signal generated by the indicator (for example, if prices peak and turn down, wait for prices to begin to fall before selling).

Divergence:

-A bullish divergence occurs when the price is making new lows while the indicator fails to make a new low.

-A bearish divergence occurs when the price is making new highs while the indicator fails to make new highs.

There are also a number of parameters available, these include the indicator type, first momentum average, safe mode, alerts on market changes, mobile phone notifications, and more.

Service Cost

The Exponential Momentum indicator can currently be purchase with a one-off payment fo $36 which will get you up to 5 activations of the indicator. There is also the option to rent it on a monthly basis, this will cost you $10 per month to rent it.

A free demo version is available but the details of the free version are not detailed on the site so it is not known what the limitations are, it may still be worth downloading to try out before making a purchase.

Conclusion

There’s just the one review is available giving the indicator an overall rating of 5 out of 5.

“Excellent! One of the best indicators I have ever seen!” – A 5-star review.

The review is positive, there are also two comments, the developer has not replied to either of them which isn’t a great sign for the customer support that you will receive. Due to the few ratings available, we would suggest trying out the free version and sending any queries to the developer as you want to be sure that they are still actively supporting the indicator and its customers before you make a purchase or a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/16086

MASR Bands is located on the MQL5 marketplace and is found under the indicators section. Muhammad Elbermawi is the creator and the first uploaded the indicator on the 4th of November 2019, it has been updated a number of times with the latest update being on the 17th of March 2020, the indicator is currently at version 2.0.

Overview

MASR Bands is an indicator that can be used with the MT4 trading platform, it was created for help you look for moving averages surrounded with two bands that will help to show the support and resistance levels.

Some of the main features of the indicator:

• MASR Bands do not repaint or recalculate its results.
• Well-designed parameters to help the user easily navigate between them.
• Sound, Mobile notification, and email alerts depending on user choice.
• MASR Bands code is revised to make sure that it will not consume the user’s PC memory.

There are also some parameters available these include the MASR candles, MASR moving averages, whether to show the arrows and verticle lines, sound alerts, whether to send emails or push notifications, the chart color, and a few more.

Service Cost

The MASR Bands indicator can be purchased with a one-off payment of $60, the developer has given you up to 1000 activations for each purchase. There are also two rental options the first will cost you $10 per month, the second is for a three month period which will cost you $30.

A free demo version is also available, the demo version can only be used with the EURUSD pair and only on the 1H chart.

Conclusion

Unfortunately, there aren’t any user reviews for the MASR Bands indicator so we cannot tell how users are finding it or if it is doing what it is meant to be doing, there are four comments, but they are all from the developer themselves giving some analysis or signals. The last comment was from 2020 so it appears that the creator is still being active and supporting the indicator which is good to see. As there are no reviews, we would suggest contacting them with any questions just to make sure that it will do what you need it to do before you make a purchase or a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/43431

Moving Average Proximity Alert Multiple Pairs can be found within the MQL5 marketplace under the indicators heading. We have added a link to the indicator below. The indicator was first uploaded by its creator Krisztian Kunzer on the 16th of July 2018, there have not been any further updates to the indicator is still at version 1.0.

Overview

The Moving Average Proximity Alert Multiple Pairs indication has been created for the MetaTrader 4 trading platform, it was designed to work with 16 currency pairs over multiple timeframes in order t ogive alerts when the price reaches a moving averages alert zone.

Main features of the indicator:

-Can monitor 16 currency pair’s moving average (EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, NZDUSD, USDCAD, EURJPY, GBPJPY, EURGBP,EURCHF, GBPCHF, EURAUD,GBPAUD,EURNZD,GBPNZD).

-Get alerts on screen, email, push notifications (mobile).

-Adjustable sensitivity.

-Displays the price (Bid) distance to moving average in points.

-Displays which alert is On.

There are also plenty of parameters available, some of them include the alert sounds, the type of alert to use, the MA range, MA timeframes, font colors, font sizes, and more.

Service Cost

You can purchase the indicator for $30 which is a one-off payment, you are also able to rent the indicator, you can do this for a three month period which will cost you $12, or you can rent it for one year which will cost you $25.

Conclusion

At the time of writing, there were three user reviews, however, two of them did not leave a rating, the one rating available has given the indicator and overall rating of 5 out of 5.

“It’s overall a very good indicator. Exactly what I needed. I can mention only one thing: I trade intraday charts, approx 5-6 what I am watching. Can you add a feature with which I can turn off/on some currency pairs. I would really appreciate it :)” – A 5-star review.

Along with the one review, there is only one comment, the developer has not responded to it. Due to the lack of activity, we would strongly suggest that you download and try out the free version, you should also send any queries that you have to the developer to ensure that they are still active and supporting the indictor.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/30426

Multi Currency True Currency can be found within the indicators section of the MQL5 marketplace. It was uploaded by Desmond Wright on the 13th of June 2018, it has not received any further updates and is still at version 1.0.

Overview

Multi Currency True Currency is an indicator that was designed to be used with the MetaTrader 4 platform, its main purpose is to act as a multi-currency strength indicator for day traders. The indicator does not use moving averages, it works with up to 12 customizable time periods, will automatically calculate and plot previous highs and lows, along with 2 side meters showing currency strength, pair strength, points movements, percentages, and pressure.

Some of the key features provided by the indicator:

• 12 customizable time periods for days of the week to hours and minutes
• Automatic plotting of values (highest/lowest)
• Display strength lines ONLY for the chart pair
• Display the strength lines of all the currency pairs
• Display strength lines for each currency
• Strength of each currency
• Number of points the currency pair has moved
• Number of points that the asset has moved above or below the high/low lines
• Percentage of the movement
• Absolute strength (pressure)

There are also some parameters available to alter, these include bars, font sizes, spacing, line width, whether to show strength, all currencies, prefix, suffix, timeframes, and more.

Service Cost

The Multi-Currency True Currency indicator will currently cost you $30 to purchase, this will give you up to 10 activations of the indicator, there is also the option to rent it on a monthly basis which will cost you $20 per month. A free demo version is also available but the limitations of this version are not stated on the site.

Conclusion

There is only one review that is not actually giving a rating so the overall rating remains as unrated.

“I see nothing good with this currency strength. Just one of those scraps in the forex industry. No good guide.” – A rating is given.

Even though there is no rating, the review is a negative one which is not a good start, there are three comments available, two are from the developer replying to the review and comment, the replied were back in 2018, so it is not known whether they are still supporting the indicator, due to this we would suggest contacting the developer to ensure that they will be available to support you should you nee dit once a purchase or rental has been made.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/29643

PipFinite Exit EDGE is an indicator that is found on the MQL5 marketplace, we have added a link below in order to make it clear which indicator we are currently looking at. The first version of this indicator was uploaded on the 22nd of May 2019, the most recent version was updated on the 1st of January 2020 and is currently sat at version 3.0.

Overview

The PipFinite Exit EDGE is an indicator to be used with the MetaTrader 4 trading platform, the Exit EDGE indicator helps you to maximize your profits and avoid winning trades turning into losers by finding the optimum exit times.

Some of the advantages of this indicator:

• Generates instant exit signals based on price action & volatility
• Powerful prediction algorithm that minimizes lag but maintains acceptable accuracy
• It provides an alternate exit strategy for your existing trading system
• Never repaints, never back paints, never recalculates
• Signals strictly on the “Open of the bar”
• Works in all symbols and all timeframes
• Integrated pop-up, email, push notification and sound alerts
• Fully compatible with the Expert Advisor (EA) development

There are also some parameters available that can slightly alter the way that the indicator works, these include things like the time period, volatility, maximum bars, misc parameters, display parameters, graphics parameters, and more.

Service Cost

The indicator currently costs $85 in order to purchase outright, this will give you unlimited use. Traders are also able to rent it. You can rent it for 1 month which will cost you $58, you will be charged this each month, you can also rent it for 1 year which will cost you $78 per year. There is also a free version available, but we do not know if there are any limitations to the free version of this indicator.

Conclusion

There are 40 different reviews, the overall rating that this indicator has received is 5 out of 5 stars.

“Very good indicator for scalping together with Trend Pro. I have very good results from the first day” – A 5-star review.

“Very good indicator helps me decide when to exit.” – A 5-star review.

“The third Pipfinite indicator bought. Love its easy and accurate prediction of the market. Worth 5-star rating.” – A 5-star review.

So there are a lot of positive reviews indicating that it must be doing something right, we would, however, recommend that you download the free version, just to be sure that it does in fact function as intended and that you are able to get it set up and working properly before making a purchase or renting it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/38568

The PipFinite Trend PRO MT5 is an indicator designed to help you analyze and trade that can be found on the MQL5 market. Just to ensure you know exactly which indicator we are reviewing we have posted the link to it below. The current version of this indicator is version 3.0, this was last updated on the 1st of January 2020.

Overview

In order to use this indicator, there should be just three easy steps to follow, the indicator will display a trade setup, you can set the stop loss and then set the take profit. It should be as simple as that.

Some of the features included are:

• Easy, visual and effective trend detection
• It gives you the ability to filter and further improve your trading strategies
• Enhanced statistics calculation following the entry point, take profit and exit signal
• Never repaints, never back paints, never recalculates
• Signals strictly on the “Close of the bar”
• Works in all symbols and all timeframes
• Integrated pop-up, email, push notification and sound alerts
• Fully compatible with the Expert Advisor (EA) development

There are a few additional parameters available to configure, such as the time periods, target factors, maximum historical bars, and then some graphical changes such as colors.

Service Cost

The current cost of this indicator is $98, you are also able to rent the indicator, for a one-month rental it is $48 per month, however, you are also able to rent it for a year which will set you back $88 per year. There is also a demo version available, which seems to have slightly different features, but we are not sure what the actual differences are, it is always worth testing out the demos before purchasing though.

Conclusion

There are a massive 357 different reviews available on this indicator, looking through the first 50 or so reviews they all seem to be 5 stars which can be both a great sign and a not so great one, often software with only 5-star reviews is a sign of fake reviews, but as we go further down the list there are a few one to four-star reviews in the list too.

“This is the best indicator I use and great congratulations to the team” – a 5-star review.

“A very good indicator my trading has improved a lot since I started using the Indicator” – a 5-star review.

“Hi, Everybody using PipFinite Trend PRO. I made a simple EA in order to demonstrate it’s profitability, but it seems it is not profitable.” – 1-star review.

There are a few comments mentioning that the creator is giving away the software for positive reviews which is a very underhanded tactic, so we hope that it is not true,m as always we would recommend using the free demo version in order to test out the indicator.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/26889

The Ultimate Strength Differential SE is an indicator that is currently found on the MQL5 marketplace, we have provided a link below so you can see exactly which indicator we are looking at. The indicator was first released on the 29th of April 2014, it has had a number of updates, the most recent were on the 3rd of November 2015 and it is currently on version 6.0.

Overview

The Strength Differential SE is an indicator designed to be used with the MetaTrader 4 trading platform. The indicator is designed to show the strength and weakness of the base currency related to the quote currency on any chart that it is placed on. The indicator is RSI based and is backed by solid mathematical and statistical data.

The main features of this indicator:

-Graphically shows the STRENGTH/WEAKNESS of a currency relative to another

-Can be used in EAs using iCustom to get data from the appropriate buffer (see INDICATOR BUFFER’ section for details)

-Can be configured to send push notification of trade opportunities to mobile terminal on new bar event

-Can be configured to email trade opportunities on new bar event

-Can be configured to generate an alert of trade opportunities on new bar event

-Highly customizable (Indicator colors can be customized. See ‘INPUT PARAMETERS’ section for details)

There are a number of parameters that can also be adapted and changed to alter the indicator to suit your own requirements, some of these include alerts, quote colors, base colors, strength periods, and more.

The indicator has a number of benefits such as revealing the market bias on at least 14 different currency pairs and it can be used on all timeframes.

Service Cost

You are able to buy this indicator for $34, this purchases it outright, there is not an option to rent this indicator which is something we see on a lot of them. There is a free demo version available, they have not made it clear what the limitations of this free version are, but we are certain that there will be some.

Conclusion

Unfortunately, there aren’t any reviews or ratings for this indicator, there is however a comment which got a very prompt reply from the creator which is always good to see. As we are not able to see what people think of the indicator, we would highly recommend that you download and try out the free version, this way you will be able to make sure that it does what you need and that you are able to get it set up correctly before you make any purchases.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/4155

Three MA Alert is found within the indicator section of the MQL5 marketplace. There is a link to it below. Thushara Dissanayake first uploaded the indicator to the MQL5 marketplace on the 14th of December 2017. It has had a number of different updates, the most recent update was posted on the 14th of November 2018 and this brought it up to version 1.3.

Overview

The Three MA Alert is an indicator for the MetaTrader 4 platform, it was created to send notifications to your mobile, email, or as a pop up when three moving averages crossover. The indicator works best on the EURSUD pair on the M30 timeframe.

The main features of the Three MA Alert indicator:

• Most popular MA strategy based
• Send notification to a mobile device, email and display a pop-up alert with sound
• Email alert includes Time-frame, Signal, Time, Bid, Ask, Spread, Account Balance, Account Equity and Account Profit
• Each notification Activate/ Deactivate function
• Draw signals quickly on the chart
• Display the battle between buyers and sellers as a percentage of the total volume
• Font, font size and color of the items can customize for a better view

A whole bunch of parameters are available, they allow you to slightly alter the function of the indicator to better suit your own needs. Some of the settings include the MA period, MA shift, MA method, MA line colors and styles, alerts, email alerts, pop up alerts, mobile alerts, graphic parameters such as arrow sizes, colors, and more.

Service Cost

The indicator will currently cost you $30 to purchase it outright, this version will have no limitations and can be used indefinitely. There is also an option to rent the indicator. This will cost you $20 for each year that you wish to use it. A free demo version is also provided. However, this will have some limitations that we, unfortunately, do not know what they are, it would still be worth downloading to try out though.

Conclusion

Unfortunately, there aren’t any reviews for us to look at so we do not know how people are finding the indicator and whether it does what it is supposed to. There is a comments section which has a number of comments from people who have purchased it, these are main questions about how to do certain things, the developer has been very active and has been replying to each and every comment which is a great signal and shows that they are actively supporting the indicator. Due to the lack of reviews, we would suggest downloading and trying the free versions well as sending any questions you may have to the creator, this way you can be sure that it is the right indicator for you befoe you ake a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/26978

Located on the MQL5 marketplace, Smart Grid Expert was created by Vadim Korolyuk and uploaded to the marketplace on the 17th of March 2020, it has had a few different updates, the most recent update was on the 25th of March 2020 and this brought the EA up to version 1.5.

Overview

The Smart Grip Expert is an expert advisor that was developed to be used with the MetaTrader 4 trading platform, it is a grid-based expert advisor which means that it can open up a lot of trades when the markets are going against you. It will open up trades in the same direction in the hope that the markets will reverse and then all trades can be closed for an overall profit, the concern comes when the markets do not turn and keep going against you, it can create a lot of trades with an ever-increasing drawdown and can potentially blow an account if it is not large enough.

The EA will analyze daily timeframes to determine the trend reversal and will open up orders in accordance with the trend. The Ea does not sue indicators, it will instead collect a grid of orders, regardless of whether the previous positions was a profit or a loss. The EA will try to protect the account by not trading during spread expansions at the end of a trading day or market swap over.

The EA was designed to be used with the GBPUSD currency pair and works with both 4 and 5 digit accounts.

There are a few parameters that come with the EA, these can be altered to change the way that the EA functions, some of the settings include the fixed lot sizes, the volume of trade to increase each time, money management settings, the amount of the account to risk, the gird step size, magic numbers, slippage settings, maximum spreads and more.

Service Cost

The Smart Grid Expert EA will cost you $500 to purchase with a one-time payment, purchasing it will allow you to activate the software up to 10 times and there are no further limitations to the purchased version. There is also the option to rent it, this can be done on a three month period that will cost you $150 for that time, or you can also rent it for six months which will cost you $250. There is a free demo version, this is limited to only being used with the strategy tester within the MetaTrader 4 platform and cannot be tested on a live account.

Conclusion

Unfortunately, at the time of writing, there were no reviews or ratings fro customers available on the site, so we do not know whether people are finding the EA useful and whether it has been profitable for them. There is also just the one comment which is from the developer giving out some new settings in a file. This does at least show that the developer is still supporting the EA which is a good sign, we would still suggest contacting the developer with any questions about the EA, just to make sure that it is the right EA for you as it does have quite a high purchase and rental price.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/46466

The Regression Line Beeta Channel and Triangle is an indicator that can be found on the MQL5 marketplace, we have linked to it below so there is no confusion as to which indicator we are reviewing. The indicator was released on the 4th of August 2016, it has not received any further updates and is still at version 1.0.

Overview

This is an indicator created to work with the MetaTrader 4 trading platform, it will display regression lines, moving averages, regression channel, and triangle movements.

It has a few parameters that can be changed to make it suit your needs.

• p: Amount of bars for the Regression Line calculation
• m: Regression Line degree (changes from 1 to 8)
• mn: Regression Channel degree (changes from 1 to 8)
• MaPeriod: Moving Average period
• MaMethod: Moving Average Method
• MaPrice: Moving Average Price
• RegLinePrice: Regression Line Price
• bars: Color bars true
• Triangle: Triangle true
• Channel: Regression Channel true

Service Cost

The Regression Line Beeta Channel and Triangle indicator currently costs $30 to purchase outright, there is not an option to rent the indicator. There is also a free demo version available, this can be used to test it out and to make sure it functions how you need it to.

Conclusion

Unfortunately, there aren’t any actual reviews available for this indicator, so we do not know how the clients are finding it or if it is, in fact, functioning how it should. There is a comment asking for help where the creator replied promptly which is a good sign, As there are no reviews, we would recommend using the demo version to test out the indicator to make sure that it works and that you are able to set it up on your own terminal.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/17781

Real Trend Line scan be found within the MQL5 marketplace under the indicators heading. It was first uploaded to the marketplace on the 6th of June 2017 by Harun Celik, it has not received any subsequent updates and so it is still at version 1.0 of the indicator.

Overview

Real Trend Lines was created for the MetaTrader 4 trading platform and acts as an indicator that will calculate trends using set channels and algorithms. It will help you to work out the trend return points and represents an oscillator. The indicator is best used with the M15, M30, or H1 timeframes.

The main features described by the developer:

Uptrend

Rule 1 – The yellow trend line should be below zero levels.
Rule 2 – The yellow trend line should be in the green and orange channels.
Rule 3 – The trend line should lookup in the channel.
Rule 4 – the pink trend line should be above the yellow trend line.

Downtrend

Rule 1 – The yellow trend line should be on zero levels.
Rule 2 – The yellow trend line should be in the green and orange channels.
Rule 3 – The trend line should look down on the channel.
Rule 4 – The pink trend line should go under the yellow trend line.

In terms of parameters, there are only a few available, these include the trend period, middle trend period, channel calculation period, and the display mode.

Service Cost

The Real Trend Lines indicator can be purchased for $30, this is a one-off payment that comes with no added limitations apart from the 20 activation limit. There is no option to rent this indicator so purchasing it is the only option available. There is a free demo version, however, this version will only be usable with the strategy tester within the MetaTrader 4 platform.

Conclusion

There are two reviews available from its users, they have given the indicator an overall rating of 5 out of 5.

“A great trends analysis tool, very helpful! But why can’t I change the preset colors? I use the Black/White color background, the yellow main trend line is not so visible for me.” – A 5-star review.

“Gets you into winning trade quite early, I prefer the 30 Minute with it” – A 5-star review.

So the current reviews are very positive, there are only two of them available but it is a great start. There are also a few comments, the developer was originally replying to most of them, he did not reply to the most recent, the main replies were back n 2017 and there have not been any developer comments since then. Due to this long time of no comments, we would suggest sending your queries to them before making a purchase, just to make sure that the developer will still be around to offer support should you need it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/23342

Narrator Fibonacci Auto and Manual English Voice can be found within the MQL5 marketplace, it was created by Artiom Choults, first uploaded on the 20th of October 2015 and has not had any further updates so the indicator is still at version 1.0.

Overview

Narrator Fibonacci Auto and Manual English Voice is an indicator that was designed for use with the MetaTrader 4 platform. The indicator was created for those that use Fibonacci levels for their analysis. The indicator can draw on the Fibonacci levels automatically based on ZigZags or you can draw them on manually.

Some of the benefits of the indicator include:

• Voice alerts, a built-in sound pack
• User-friendly navigation and interface
• Highly customizable input parameters
• Recovers itself after lost Internet connection, terminal restart or timeframe change
• Automated voice alerts
• Predefine the number of pips you want to be alerted in advance
• Supports the following levels 38.2%, 61.8%, 127.0%, 161.8%, 261.8%, 423.6% and 685.3%

If you do not use all these levels, then you can easily remove them in the “Fibo properties…” window after selecting and right-clicking on the Fibonacci object.
The alerts for the removed levels will disappear automatically.

There are a number of parameters available too, these include settings for the ZigZags, and also further options for the Fibonacci levels such as automatic or manual drawing.

Service Cost

The indicator will cost you $400 to purchase it outright, this will give you up to 7 activations and no further limitations. There are also a few options to rent the indicator, this can be done in the following ways.

• 1 Month – $20
• 3 Months – $40
• 6 Months – $59
• 1 Year – $100

A free demo version is also available, this version will be limited to use within the strategy tester of the MT4 platform.

Conclusion

There are two reviews available which have given the indicator an overall rating of 3.5 out of 5.

“Very good, but can not change the color.” – A 4-star review.

“Good points: Very accurate “automatic” fib levels, the best I’ve seen. Bad points: ZERO customer support ZERO customizable features; i.e Cannot remove/add fib levels, change colour, etc; Changes chart properties i.e Disables chart auto-scroll, etc; Due to limitations I no longer use it.” – A 3-star review.

So the reviews are mixed, the main concerning aspect is the claim that the developer is not responding, there aren’t any comments within the comment section for us to clarify this, but if you are thinking to purchase, we would suggest that you contact the developer to ensure that you will be able to get some support from them.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/11578

Lines Channel Pro can be found on the MQL5 marketplace under the indicators section. It was uploaded on the 22nd of September 2018 by Vitalyi Belyh, it was most recently updated on the 1st of February 2020 and is currently at version 9.0.

Overview

Lines Channel Pro is an indicator that was created for MT4, its main purpose is to determine the price reversals from high and low channels.

The indicator includes three main features:

• Close – Calculation for closing the bar
• High / Low – Calculation based on the Max / Min price of the bar
• MA – Calculation of the moving average

There are a number of additional parameters that can be changed, these include trend filters channel filters, line periods, noise levels, price method calculations, popup messages, email notifications, and more.

Service Cost

The indicator is an expensive one, if you wish to purchase it outright it will cost you $1,260, this will get you 10 activations and no other limitations. There is also the option to rent it, this can be done on a monthly basis which will cost you $65 per month, you can also rent it on a yearly basis which will cost you $365 per year.

There is a free demo version, but the limitations are not stated, it may only be usable within the MT4 strategy tester but we cannot say for sure.

Conclusion

There is only one user review, this review has given the indicator an overall rating of 5 out of 5.

“This is a wonderful indicator and I think its logic is much better than thousands of indicators available out there. Everyone should try it out. The author Vitalyi Belyh is also very responsive and always open to suggestions about his products. Keep it up, author.” – A 5-star review.

So the one available review is very positive but it is hard to get a bigger picture when there is just one review available, the developer has also been replying to the comments that are present within the comment section of the site. This shows that they are still willing to support it, there has not been a comment in 20202 yet so we would advise you to contact the developer before making a purchase to ensure that you will get some support, especially due to its very high price.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/31911

Intraday Momentum Index for MT4 is currently located on the MQL5 marketplace, we have added a link below that will take you directly to it. The indicator was first uploaded by its creator Luiz Tim on the 30th of January 2017 and there have been no updates so the current version of the indicator is still version 1.0.

Overview

Intraday Momentum Index for MT4 is an indicator that can be used with the MetaTrader 4 platform, it is a technical indicator that will combine the aspects of Candlestick Analysis with the Relative Strength Index (RSI).

The indicator will look at the relationship between the opening price and closing price of a given trading day. It will also look at the most recent price variations and it will aim to identify overbought and oversold conditions within the markets.

There is only one parameter available to alter and that is the time period that the indicator uses.

Service Cost

The Intraday Momentum Index for MT4 will currently cost you $15 to purchase it outright without any added limitations, if you do not wish to purchase it, you can also rent it for $10 per month. A free demo version is also available, this will have some limitations which are unfortunately not stated on the site, it may still be worth downloading to try out though.

Conclusion

There are no user reviews and also no comments for this indicator so we do not know if those that have purchased the indicator are finding that it does what it is meant o do or if it is not working properly. Due to this, we need to strongly suggest that you download the free version to test out, we would also suggest that you contact the developer with any questions that you have, not only will this be a way to make sure that it does what you need it to, it will also let you know whether the creator is still actively supporting the indicator or not before you make a purchase or a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/20555

FiboStrategy MT4 is currently found on the MQL5 marketplace under the indicators heading. There may be others with similar names so we have provided a link to the one we are looking at below. The indicator was created by Alexander Vinogradov, it was first uploaded on the 25th of December 2013 and is currently at version 1.2, the most recent update was on the 8th of July 2014.

Overview

FiboStrategy MT4 is an indicator for the MetaTrader 4 trading platform, as you can guess by the name, the indicator is based on Fibonacci levels.

The main objectives of the indicator:

-Calculation of the first market movement (from levels 0 to 100).

-Displaying possible price movement from 100 and higher to Profit Level, as well as in the opposite direction to Correction level and Revers level depending on the direction.

An example strategy is given by the creator:

-Buy signal appears when level 100 is above level 0. A pending order can be placed at any level. Take profit is set to ProfitLvl level. Stop-loss is set to ReversLvl level.

-If the order is not activated, while the price has reached ReversLvl, the pending order is to be deleted.

-Exit the market after the objective is achieved.

There are also a number of parameters that can be altered, these include the Correctlvl, Prfitlvl, ReversLvl, RestrictLvl, and pBand.

Service Cost

The indicator can be purchased for just $15 so it is relatively cheap when it comes to indicators, the only option available is to purchase it outright as there is not an option to rent it. There is a free demo version available, this version will have some limitations but the website does not indicate what these limitations may be, it is still worth downloading the free version to try it out.

Conclusion

There are currently two different revies for the indicator, they are both giving very different opinions, the overall rating is 3 out of 5 stars.

“There is no response from the developer to queries. Very confusing product.” – A 1-star review.

“Great and awesome indicator :)” – A 5-star review.

So a mix in opinion, the most concerning is the review about not getting a response from the developer, that review is from 2015, we can see that the developer has been actively responding to comments from a more recent date, so it is possible that the user did not know how to contact the developer properly, you could test this by sending a query to them to see if you get a reply. As there aren’t many reviews, we would recommend that you download and try out the free version, it will have some limitations but it will allow you to see how it functions and you can make sure that it does what you need it to do before you make a purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/2440

Price Action triggers is an indicator that can be found on the MQL5 marketplace, it was created by Robert Maidla and was first uploaded on the 16th of March 2017, it received a number of updates, it was most recently updated on the 10th of October 2018 and is currently at version 4.1.

Overview

Price Action Triggers is an indicator that was designed for the MetaTrader 4 trading platform, it was created to look at price action within the markets to determine early entry positions. The signals that it will form will appear once a single or multi candle setup is detected.

The indicator should not be used as a standalone indicator as it does not take into account the market sentiment. The indicator will work with all timeframes and symbols but it is recommended to use on the higher timeframes of H4 and above.

There are a few parameters available these are the alerts, push notifications, and email settings.

Service Cost

The indicator will currently cost you $85 to purchase, doing so will allow you to activate the indicator up to 5 times. There is also an option to rent it on a monthly basis, this will end up costing you $45 per month. A free demo version is available but due to the lack of information, we believe that it can only be used with the MT4 strategy tester.

Conclusion

There are no reviews available for the indicator so it is not known whether other users are finding it useful or not. There are some comments the developer has been replying to the majority of them and has been very active up until 2018 where the comments stopped. Due to there not being any more comments, we would suggest trying to contact the developer with any queries that you have, this will allow you to check that it will do what you need it to and that the indicator is still being supported by the developer.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/21789

OneTM TrendDirection can be found on the MQL5 marketplace under the indicators heading, we have added a link below to it. The indicator was uploaded on the 12th of July 2016 by its creator Mehrdad Jeddi, it has not had any further updates and so it is still at version 1.0.

Overview

The OneTM TrendDirection was created for the MetaTrader 4 trading platform, it was created to show4 the direction of the market for long, short, and ranging trends. It can be used on all timeframes for each direction.

The main features of the indicator:

• Unique for catching the range or trend market
• Avoids whipsaws and uncertain market noise
• Good for scalper trading
• Useful on Renko charts
• Without any repaints
• Without any back pains
• Never recalculates
• Compatible with Expert Advisor development

There are only a couple parameters that can be used to slightly alter the indicator, these are the trend periods and the range periods.

Service Cost

The indicator currently costs $45 to purchase it outright with no limitations, there is also an option to rent it, this will cost you $16 per month to do so. A free demo version is also there, however, this will have some limitations that we are currently not aware of, it is always worth downloading to test out.

Conclusion

Just the one review is available, this is giving it a rating of 5 out of 5.

“Very good indicator !! Thanks 🙂 !”

So the only available review is positive, the same use rail asked a section in the comment section which got a very helpful response which is a good sign of the kind of customer support that you may receive. As there is only the one review, we would recommend downloading the limited free version, just to try it out so you can see how it works, also contact the developer with any queries so you can make sure it will meet your needs before putting any money down.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/11736

Double HMA MTF for MT4 can be found within the indicators section of the MQL5 marketplace, there is a link directly to it below. It indicator was created by Pavel Zamoshnikov, he first uploaded it to the MQL5 marketplace on the 11th of January 2019, it received a further update on the 24th of January 2019 and is currently at version 1.3.

Overview

Double HMA MTF for MT4 is an indicator for MetaTrader 4, it is an indication that works on multiple timeframes and uses Hull Moving Averages.

The indicator comes with a graphical panel which holds all the HMA data, the panel will indicate if the HMA switches direction and also displays a test and sound effect to indicate this. It will be located within its own separate window rather than directly on the chart.

The signals are generated in a couple of different ways:

-The possible signal is generated when the HMA color is switched and when the bar of the higher TF is not closed yet. The possible signal is displayed on the graphic panel with a question mark. It is risky to open a deal on this signal because it can be canceled if the HMA color is restored before closing the higher TF bar. However, the possible signal allows you to open a trade at the best price. The possible signal can be switched off.

-The final signal is generated by switching the color of the HMA of the higher TF and the bar of the higher TF has already closed. This signal is never redrawn.

-The final signal is displayed on the graphic panel with an exclamation mark.

There are a number of different parameters, some of them include the offset of higher TF relative to current TF, the HMA time periods, to enable or disable signals, arrows, colors, to show legend, to turn alerts on or off and the type of alert to use.

Service Cost

The indicator will currently cost you $30 to purchase it outright, this version will come with no limitations. Indicators on the MQL5 marketplace often have the ability to rent them, however, this one does not. There is a free demo version, however, the limitations of this version are not known as they are not mentioned on the MQL5 website, it may be worth downloading to try out the indicator without having to make a purchase.

Conclusion

There is just one review that sums up their thoughts on the indicator in one word.

“Useless” – A 1-star review.

So the only review is not a positive one, there are a few comments too, the developer of the indicator has been replying to them which is great to see and shows that they are still supporting the indicator and its users. As there aren’t too many reviews available we would suggest downloading and trying out the free version so you can see how it functions and whether or not it does what you need it to do.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/33733

First uploaded on the 7th of August 2017, Svyatoslav Kucher uploaded Break Moment to the MQL5 marketplace under the indicators heading. It has not received any further updates since it was first uploaded and so it is still on version 1.0 of the indicator.

Overview

Break Moment is an indicator for use with the MetaTrader 4 trading platform, the main purpose of the indicator is to determine the main trend of a currency pair, it is able to produce signals and alerts to inform the user of a new trend forming.

The indicator can be used is a number of different ways:

-As a signal indicator. There is a sufficient number of filters for eliminating signals with insufficient quality. Those filters include filters of volume, volatility, and others.

-As a confirmation indicator. The indicator’s signal means that the current currency pair has an activity, impulse. A rebound in the direction of this activity can be used for entry.

-As a trend indicator.

There are plenty of settings and parameters available to alter, these include things like the price channel period, volume filter periods, trend filters, verticle lines, alert setting such as sounds and type, method of calculating, and more.

Service Cost

The Break Moment indicator can be purchased with a one-off payment of $55 which will give you 5 activations of the indicator. It can also be rented on a monthly basis which will cost you $15 per month, this must be paid each month that you wish to use the indicator.

There is a free demo version, no information is available on the site which normally means that it will only be able t obe sued with the strategy tester, it may still be worth downloading and trying out regardless.

Conclusion

Just one review giving the Break Moment indicator a rating of 5 out of 5.

“A good indicator for manual trading is a great addition to the trading system!“ – A 5-star review [translated from Russian]

The review is good but there is only one so it doesn’t give a full picture of how people are finding the indicator. There are a few comments, most are from the developer but there has not been a comment since 2017 so we are not sure whether the indicator us still being actively supported by the developer. We would suggest sending any queries that you may have to the creator, this way you can make sure that it is the right indicator for you and that it is still being supported before you make a purchase or a rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/24575

ArgoSuperTrend was uploaded by Alexander Lasygin on the 6th of June 2014 onto the MQL5 marketplace where it can now be found. It has not received any additional updates since it was first uploaded and so it ism till on version 1.0.

Overview

ArgoSuperTrend is an indicator for the MetaTrader 4 trading platform, the main aim of the indicator is to identify the main market states of a trend, pullback, and flat. This will allow you to enter the market at the time you want to and with the use of any trading style.,

The indicator has a number of visuals, first is a row of dots that shows you the current trend, wither bullish, bearing or neutral, the bars are also colored to indicate the current fastCCI location.

The indicator will generate potential stop losses and take profit levels based on the trends and markets, you will need to set these yourself if you wanted to use them, the indicator will use Fibonacci levels as a method of working the stops out.

There are plenty of parameters available too, some of them include the style of lines, candle colors, arrow sizes, clock visibility, target Fibonacci levels, slow CCI period, fast CCI period, and many more options are available too.

Service Cost

The ArgoSuperTrend will currently cost you $15 which is relatively cheap when comparing to other indicators, this is a one-off payment to get you limitation free access. There is not an option to rent it but there is a free demo version, this will be limited but the actual limitations are not known to us as they are not stated on the site, it may be worth downloading and testing out.

Conclusion

ArgoSuperTrend currently has seven user reviews giving it an overall rating of 4.5 out of 5.

“After 2 years of backtest on two pairs (as an addition to my strategy), I can say that it’s a very good tool for entries and exits. 5*!” – A 5-star review.

“Useful indicator” – A 3-star review.

“Very good indicator. I can enter a trade anytime with this indicator.“ – A 5-star review.

The reviews are generally very positive and the developer of the indicator seems to be actively supporting the software by replying to comments and offering support. The free version is there to try and the developer is ready to answer any questions that you may have before purchasing, so it may be worth making sure that the indicator is right for you before you purchase it.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/4631

Ultimate Moving Average Crossover Multi Pair MTF is currently located on the MQL5 marketplace under the indicators section, we have provided a direct link to the indicator below. Created by Yossarian Escobedo, the indicator was first uploaded on the MQL5 marketplace on the 5th of November 2018, when it was uploaded it was already on version 2.67 and there have been no further updates.

Overview

Ultimate Moving Average Crossover Multi Pair MTF is an indicator for the MetaTrader 4 trading platform, it was created to help find the various different types of moving average crossovers. These then help the indicator give a clear buy or sell order.

The main features of the indicator:

-This indicator monitors all 28 pairs by default. But you can monitor as few (or as many) pairs as you wish.
-It can monitor any symbol in your Metatrader platform. Including crypto, commodities, indices, equities, ETF’s, etc.
-It can monitor every timeframe from 1 Minute to Monthly. All at the same time.
-It will automatically trigger an alert whenever the appropriate crossovers are identified.
-It can monitor crossovers for anywhere between 2 and 5 moving averages (2, 3, 4, or 5).
-It can monitor several moving average calculation methods (simple, exponential, smoothed, and linear weighted).

You only need to place the indicator on to a single chart, it will then be able to monitor and scan the entire market.

There are also a number of parameters that come with the indicator, these allow you to alter the functions and display of the indicator to better suit your needs. Some of the options include the number of moving averages to use, the moving average period, the moving average method, to have candle alerts, bulling alerts, bearing alerts, minutes between each alert, and which symbols to use.

Service Cost

The indicator can be purchased outright for $79 which will give you unlimited access without any limitations, there is also the option to rent the indicator, you can do this on a monthly basis which will cost you $59 per month, you can also rent if for three months and will cost you $69 per three month period.

There is also a free demo version available, unfortunately, the site does not detail what the demo version involves and what the limitations of the free version are, even without knowing the limitations, it is worth downloading the free version just to try out the indicator free of charge.

Conclusion

There are just two reviews available, both of them are very positive giving an overall rating of 5 out of 5.

“The best indicator in the market to find the Moving Avrange signal! here you don’t buy just an indicator but also an amazing service. Mike is a person more kindly and skilled that I’ve ever known. Thank you” – A 5-star review.

“Great indicator that lives up to what they claimed. I have purchased a lot of indicators over the years. Not only is this a great indicator, but I have never had any company put forth so much effort to make sure I know how to best use the indicator and be so willing to give detailed responses to my questions. The highest kudos to them for a quality product and outstanding customer support.” – A 5-star review.

There aren’t many reviews but the two available are very positive, the creator of the indicator has a large number of other software available on the MQL5 marketplace and each one is getting very positive reviews and the developer seems to be actively engaging in their comment sections, we had to check them as the comment section for this indicator is empty. As there aren’t too many reviews, we would strongly suggest that you try out the free version, even though we do not know the limitations of it, we would also suggest sending any queries you have to the developer, this was you can make sure that the indicator will suit your needs prior to making a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/32967

Located on the MQL5 marketplace, VR ATR Pro was created by Vladimir Pastushak. It was first uploaded to the marketplace on the 2nd of October 2014, it has had a large number of updates, it was most recently updated on the 16th of March 2020 and is currently at version 20.31.

Overview

VR ATR Pro is an indicator that was created for the MetaTrader 4 trading platform, its main purpose is to determine the target levels for a particular financial instrument, it will use real data using live and real statistics.

The algorithm used by the indicator is based on the calculation of average price movements over a specific period of time. It will use these numbers to work out the average price levels for the forecast of growth rates or to forecast a price fall.

Some advantages of the indicator:

• High accuracy
• A simple display of target levels directly on the chart
• Works with any financial instrument (Forex, Metals, CFD, Futures, Crypto)
• It does not redraw itself, and it always saves its readings
• It is effective for determining the Stop Loss and Take Profit levels
• Notifications on your smartphone, via e-mail and alerts in MetaTrader
• It is easy to set up and install
• It is suitable both for beginners and experienced traders
• It works on any period and any time frame

Some of the accuracy levels stated by the developer:

• Currency pair EUR/USD Readings accuracy 88%
• Currency pair GBP/USD Readings accuracy 78%
• Currency pair BTC/USD Readings accuracy 75%

Service Cost

The indicator will cost you $30 to purchase it outright, this will get you up to 30 activations with no other limitations. If you prefer, there is also the option to rent the indicator, this can be done on a monthly basis which will cost you $10 per month, you can also rent it for three months which will cost you $15, or six months for $20 and for a one year period it will cost you $25 to rent it.

A free demo version is available, this is limited to being used with the strategy tester within MetaTrader 4.

Conclusion

At the time of writing, there were 9 user reviews giving VR ATR Pro an overall rating of 4.5 out of 5.

“Great and pretty accuate indicator! Only on its basis, it is already possible to create your own strategies! Thank you Vladimir!” – A 5-star review [translated]

“LOVE IT so much!! Thank you!” – A 5-star review.

There is a three-star review which shows some issue but the user did not leave a comment, so all the other reviews are very positive. There are also over 100 comments, the developer has been replying to most comments showing that he is still supporting the indicator, there has not been a commend since 2020 so if you are thinking of buying it, send the developer a comment to check that they are still supporting it prior to making a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/6252

XLines MT4 can be found on the MQL5 marketplace, there may be others with similar names so we have added a link to it below. Farid Shyhaliev first uploaded the indicator on the 12th of February 2015, it last received an update on the 15th of August 2019 and is currently at version 1.24.

Overview

XLines MT4 is an indicator for the MetaTrader 4 platform, the indicator works by giving you information about the support and resistance of the markets and can be used with any timeframe. You are able to adjust the percentage ratio for each rate to show clearer signals.

It is easy to set up and offers you three parameters.
Period of analysis – used for setting up a number of bars in the current period that is considered during analysis. For example, 800 means that it will analyze the last 800 bars including the current one. 0 value is for analyzing the entire existing history ( default value is 4000).

https://youtu.be/EjSGHFhDP-4

Positional Power – its name speaks for itself. The value of this parameter can vary from 1 to 100 (multiple of 1). Using this parameter user indicates the positional strength of technical levels. Less is that value – stronger are levels shown by the analyzer.

Default settings:

• Level Color – DarkGoldenrod
• Period of analysis – 4000
• Positional Power – 6

Service Cost

The indicator can be purchased outright with no limitations for $95, there is also the option to rent it, this can be down on a monthly basis which will cost you $10 per month, you can also rent it for a 6 month period which will cost you $21. There is a free demo version, however, within the comment section of the developer clearly states that the free version does not work properly and that you should use the lowest level rental to test the indicator instead.

Conclusion

There are no user reviews for this indicator which is a shame as it means we do not know how people find it or if people feel that it does what it is meant to do. There are a number of comments which are from people who have purchased the indicator, the majority are from the developer and the two that are from customers have been answered by the developer so they may still be actively supporting the indicator. We would suggest getting in touch with them regarding any queries you have about the indicator, especially as the demo version is not fully functional.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/7944

VSA System Patterns Hunter was first uploaded by Ismail Shehade to the MQL 5 marketplace under the indicators heading, it was first uploaded on the 1st of March 2018 and is currently at version 1.0 as it has not received any additional updates.

Overview

VSA System Patterns Hunter is and indicator for the MetaTrader 4 platform, its main purpose is to look at volume spreads and to analyze them.

The main features of the indicator:

• With one click you will find all the VSA patterns on your chart
• Bars without opening price
• Easy to read volume indicator
• Bar reader (Bar type – Close type – Volume type – Spread type)
• Daily and weekly levels (Pivot – Camarilla – Fibo)
• Very light on the trading platform and moving between time frames is very fast
• And more

A number of different parameters are also available, these include the number of bars, bar width, colors of the bars, the VA period, the standard deviation period, the standard deviation factor, the SA period, arrow colors, daily level parameters, weekly level parameters, pattern hunters parameters, comment box, and more.

Service Cost

VSA System Patterns Hunter can currently be purchased for $250, this is an outright purchase and will give you as limitation free version of the indicator that can be activated 5 times. There is also the option to rent the indicator, it will cost you $15 per month in order to rent it and this must be paid each month that you wish to use it.

There is a free demo version available, there isn’t any information on the MQL5 site regarding it so it may only work with the strategy tester on the MetaTrader 4 platform.

Conclusion

There are currently no reviews so we cannot tell how the users of the indicator are finding it and whether they find that it is doing what it is meant to do. There are also no comments from users or the developer. Due to there being no information we would strongly suggest that you try out the free demo version, also send any questions or queries that you may have to the developer this way you can make sure that it will do what you need it to and also that the developer is still supporting it should you require any help.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/28149

First uploaded on the 17th of February 2017 by its creator Stanislav Korotky and received its most recent update on the 11th of July 2017, the Volume Delta Footprint indicator is currently at version 1.8.

Overview

Created for the MetaTrader 4 trading platform, Volume Delta Footprint is an indicator that aims to provide visualization and analysis around volume deltas. It does this by calculating tick volumes for buys and sells independently, it will then display the information on the volumes by price clusters for specific bars.

The indicator will display the delta of volumes for each bar, cumulative data of delta volumes, and additional histograms for buying and selling volumes.

In terms of parameters, the following are available:

-PointsPerCell – number of points forming a single price cluster; default value – 10

-LastBars – number of bars for calculation; default – 12; should be larger than 0

-CumulativePeriod – period for the calculation of cumulative delta by EMA; default – 12

-Display – selector of volume type to show: Delta (default), Sell, Buy, Total

-ColorPositive, ColorNegative, ColorDefault – colors defining gradients between maximal (positive), minimal (negative) and zero values in the maps

Service Cost

Volume Delta Footprint will currently cost you $25 to purchase it outright, it will give you limitation free access and can be activated on 5 different devices. There is not an option to rent this indicator so the only option is to purchase it.

There is a free demo version a,s there are no details on the site, this often indicates that it may only be used within the strategy tester of MetaTrader 4, it still may be worth downloading to try out.

Conclusion

Unfortunately, there aren’t any reviews for this indicator so we do not know how its users are finding it and if they feel that it is worth the purchase., There are a number of comments, the developer was initially replying to the majority of them but it seems like he has not replied to any that is later than the end of 2017, so again, it is hard to tell if he is still actively supporting the indicator. We would suggest trying out the free demo version, also send any queries or questions you have to the developer, this way you can make sure that it is right for you and also that it is still receiving support from its developer.

This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/20832

UpandDown can be found within the MQL5 marketplace, we have added a link below so there is no confusion as to which indicator we are looking at. The UpandDown indicator was first uploaded on the 6th of April 2017 by Olep Borisov, it was most recently updated on the 17th of April 2017 and this brought it up to version 3.2.

Overview

The UpandDown indicator was designed for the MetaTrader 4 trading platform. The indicator was created to go along with your own manual trading, it generates buy and sell signals using a few different sets of trading algorithms. The indicator works by open prices and uses modifiers CCI, MACD, and Laguerre filters.

The indicator works best on the XAUUSD, GBPUSD, EURUSD, GBPJPY, GBPCAD, EURAUD, and EURJPY pairs. The only setting that comes with the indicator is to turn the alerts on and off when a signal appears.

Service Cost

The indicator will cost you $88 to purchase it outright, this will give you unlimited access without any limitations. If you would prefer, you are also able to rent it, you can rent it on a monthly basis which will cost you $10 per month, you can also rent it for three months which will cost you $25 per month.

There is a free demo version of the indicator available, however, the site does not indicate what the possible limitations to the free version are, however, it is always worth downloading the free version to check it out.

Conclusion

There is only one review for the UpandDown indicator, this is giving it 5 out of 5.

“Good work Oleg. I recommend this product” – User Comment

The review is positive, there are also a number of different comments, the developer Oleg has been replying to them where possible which is a good indication to the support that you will receive. As there is just the one review, be sure to download and try the free version. Also, if you have any questions contact the developer so you can be sure that it will do what you need it to before you make a purchase.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/21024

Two Period RSI Alerts can be found in the indicators section of the MQL5 marketplace (this is a marketplace for indicators and expert advisors), there may be other indicators with similar names so we have provided you with a link to the exact one we are looking at. The indicator was created by Synapse Investment Research Group and was first uploaded on the 5th of October 2016, there was an update on the 22nd of March 2017 and this brought the version up to version 1.1 on the indicator.

Overview

The Two Period RSI Alerts is an indicator to be used with the MetaTrader 4 trading platform, its purpose is to compare the long term and short term RSI lines, it will plot a fill between them for better visualizations on the chart, this will be colored differently depending on an up or downtrend. The RSIs crossing can add a better trend confirmation signal than just using RSI by itself.

The available alerts include:

• Short period RSI crossing long period RSI
• RSI is below user-selectable buy threshold (Default=30)
• RSI is above user-selectable sell threshold (Default=70)

There are also a number of parameters available, these can be altered and include things like the long period, short period, to turn alerts on or off, what sort of alert triggers to sue, and to have sounds available for the alerts.

Service Cost

The indicator can be purchased for $10 which is very affordable, unlike many indicators there is not an option to rent this one and so you can only purchase it outright. Ther eis a free demo version available, but the limitations of this demo version are not currently known.

Conclusion

There is only one review available for the Two Period RSI Alerts indicator, and that is giving it a 5 out of 5 ratings.

“Great indicator, it’s very accurate and is a great addition to my scalping methodology.”

As there is only one review, the feedback is limited, there are some comments, the creator has been replying to the comments which is a good sign for the possible quality of the customer support. As there aren’t many reviews, we would highly suggest that you download and try out the free demo version, this will enable you to check out how it works and to ensure that it meets your needs before you make a purchase.

This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/18761

Stars 3D cab be found on the MQL5 marketplace, it was created by Jw Donerson Lii and was first uploaded to the marketplace on the 11th of November 2019, it has received a few different updates, the most recent update was on the 18th of November 2019 and it is currently at version 1.4.

Overview

Stars 3D is an indicator that was designed for the MetaTrader 4 trading platform, its main purpose is to look at price reversals based on critical retests of trend channels and higher high and lower lows.

The indicator can be used by swing traders, intraday traders, and scalpers by using various different settings. It is compatible with all pairs and assets including currencies, oil, gold, indices like US30 as well as cryptocurrencies.

https://youtu.be/qjcZNR_hzug

Service Cost

The indicator cannot be purchased outright, instead, you are required to rent it, you can do this on a yearly basis and this will cost you $99.99 per year. There is a free demo version available, however, we suspect that this can only be used within the strategy tester due to there being no information about it on the site.

Conclusion

There is only one user review which has given the indicator an overall rating of 1 out of 5.

“The indicator does not work properly, i.e. the redraws the stars and the right deal is not really open. Today my account suffers losses and two open transactions on the indicator have become unprofitable. Do not buy this indicator as it is lost money and it is not possible to earn on it.“ – A 1-Star review [translated from Russian]

Having just one review does not give a great indication, but that one review being negative is not a good start, the developer has replied to the comments with some support and offered an update based on the feedback given which is good to see. We do not know if it is functioning the way it is meant to but we would strongly suggest contacting the developer with any questions before making a rental just to be sure that it will, in fact, do what you need it to do.

This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/43566

The Bermaui Bands indicator can be found within the MQL5 marketplace, there may be others with similar names so we have provided a link to it below. Muhammad Elbermawi is the indicators creator and it was first uploaded on the 10th of May 2016, it has last been updated on the 17th of November and it is currently on version 4.2.

Overview

Bermaui Bands is an indicator that has been designed to work with the MetaTrader 4 trading platform, the way it works is by filtering between ranging and trending price movements. It can work out its system by calculating the standard deviation as an oscillator, depending on the percentage given it will work out whether a buy or sell signal should be given.

How to use the indicator:

-Use Bermaui Bands as a filter to help you identify trend direction.

-If BB lines separate from each other then there is a great probability that price candles will move in a side-way or a ranging movement.

-When BB lines separate from each other and price candles move in between them then trade with a ranging market strategy.

-If BB lines combine like a single line then there is a great probability that price will move in a trending movement.

-When BB lines combine like a single line and price candles move away from them then trade with a trending market strategy.

Features of the indicator:

• Buy & Sell alert signals when price candles penetrate BB lines.
• Suggested Stop loss that depends on a percent from Standard Deviation.
• A well-designed style that users can control.
• Sound, email alerts depending on user choice.

There are also a number of settings and parameters that you can alter, these include things like the candles, bandwidth, bank colors, whether to show arrows, and whether to send alerts and which alert type to send.

Service Cost

The indicator can currently be purchased for %50, this will give you unlimited access to the indicator, there is also the opportunity to rent the indicator, you can rent it for one month that will cost you $10, or you can rent it for three months which will cost you $30. There is also a free version available, this version will have some limitations, but they are not stated on the site so we do not know what they are.

Conclusion

The indicator currently has 36 reviews in total, these are giving it an overall rating of 5 out of 5, there are a couple of negative ones in there but the vast majority are all 5 stars.

“Meh. It’s okay at predicting breakouts. But too many false signals. No alert on buy/sell signal. Not very useful without a scanner and alerts.” – A 2-star review.

“You want an indicator that helps with breakouts, well this is it. I use it this in my Algo to help and has made my win rate shoot up to the sky. Use this with his TDO and other indicators and there would be no reason you should not come out ahead in this business at the end of the year. Do not wait around in deciding to get this, you will only be delayed in your abilities to get money out the market.” – A 5-star review.

“Day 1: Just purchased based on some test results… let’s wait for the more to share… One week later: Initial results are as expected or better to says as explained in Manual..so far so good… Still learning so shall revisit after a month or so” – A 3-star review.

So while it is positive that there are a lot of 5-star reviews, there are also a lot of comments, the good news is that the creator is also replying to them quite promptly which shows that there could be some good support too. We would always recommend that you download the free version to test it out and to ensure that it suits your needs before you make a purchase.

This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/16251

Candlestick Signal can be found within the MQL5 marketplace and was created by Harun Celik, it was first uploaded on the 2nd of September 2018 and is still at version 1.,0 of the software.

Overview

Candlestick Signal is an indicator that can be used with the MetaTrader 4 trading platform, it uses a set of indicators and a set of candle patterns in order to find the entry and exit points of a trade.

The main features of the indicator as stated by the developers:

• Works on any currency pairs.
• It works in all periods. Sensitivity setting.
• You can set the signal frequency. Use the recommended standard settings.
• ‌The greatest feature of this display is the possibility of manual martingale.
• The signal intensity region tends to go in the direction of the signal.
• Works on all charts.
• Works with any broker.

There are a few parameters available too, these are for correlation, color to buy, color to sell, turning alerts on or off, whether to send emails, and whether to send notifications.

Service Cost

The indicator can be purchased with a one-off payment of $40, this will get you up to 20 activations and no other limitations, there is also the ability to rent the indicator on a monthly basis which will cost $30 per month. A free demo version is available that can be used with the strategy tester within the MT4 platform.

Conclusion

Unfortunately, there aren’t any user reviews or comments s owe do not know whether people are finding it useful or whether it is doing what it is meant to do. We would suggest trying out eh free version and also sending any questions that you have to the developer, this way you will be able to make sure that it will work for you and that it is still being supported by the developer before you make a purchase or rental.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/31463

Inside Bar is an indicator that can be found on the MQL marketplace, there may be others with very similar names so we have added a link to it below. The indicator was first uploaded on the 10th of December 2013 by Igor Semyonov, it received an update on the 20th of December 2013 which brought the indicator up to version 1.21.

Overview

The Inside Bar is an indicator for the MetaTrader 4 trading platform, it works by determining the appearance of inside bars on the chart, it will then paint them onto the chart to either show it being bullish or bearish. The indicator is able to notify you when an internal bar forms by playing a beep as well as displaying time for how long is left for the formation.

There are 2 different input parameters available, these are whether you play a sound when an alert comes up and if it should show the time remaining for the current bar.

Service Cost

The indicator can be purchased for $10 which is relatively low, this will get you unlimited access, there is no option to rent this indicator due to its low price. There is a free version available, however, we are not sure what the limitations of the free version will be.

Conclusion

There are no reviews available for the indicator so we do not know how it is performing, there is a comment in the comment section with a few errors, the creator replied promptly to the request so that is a good sign for the support that you may receive. As there are no reviews, we would strongly suggest that you download and try out the free version even with its limitations, you could also contact the developer to make sure that it will be able to do the functions that you need it to prior to making a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/1581

The KL Account Performance Analyzer is a piece of software for MetaTrader 4 that can be found on the MQL market. We have provided a link below so you can see exactly which piece of software we are looking at. The software was originally released on the 8th of February 2016, it has had a number of updates and was last updated on the 4th of April 2017 and is currently at version 1.24.

Overview

The KL Account Performance Analyzer is designed to be used with the MetaTrader 4 trading platform and is designed to help you estimate the progress of your trading and reading accounts. The indicator is able to calculate values according to order type, instrument name order number, and more.

Some of the main features of this utility:

Progress of the last 30 trades: allows you to assess progress in your current skill.

Win/Loss Ratio: Winning Trades / All Trades = % of Winning Trades.

Profit Factor: Gross Profit / Gross Loss = Your profit against every 1$ of loss.

Rate of return: Calculating according to a period of calculations.

Sharpe Ratio: Efficiency of your trading. As simplification consider Sharpe ratio of 1 or better as good (bronze medal), 2 or better as very good (silver), 3 or better as excellent (gold medal), but ratio exceeding 2 can also indicate risky trading.

All Won: All finally profitable trades, including their commissions and swaps.

Average Order Distance: Calculated in pips, from order open level to order close level.

Average SL Distance: Calculated in pips according to last known SL level, also if SL was moved on BE level or by TS.

Average SL Distance: Calculated in pips according to last known SL level, also if SL was moved on BE level or by TS.

Enter Magic: Calculations according to Order Magic Number, which is assigned to the order by your EA or scripts.

Enter Symbol: Calculations according to the exact instrument name. Full name with symbol suffix if it exists.

Order Type: Calculations according to order type Buy or Sell. Allowed names: buy, Buy, Sell, Sell.

There are also some settings such as colours of profits/losses, positions of Y and X-axis, and more.

Service Cost

This software will cost you $49 to purchase it outright, there are also a number of options for renting it, you can rent it for 1 month which will cost you $15, for 3 months it will cost you $20, for 6 months it will cost you $25 and to rent it for 1 year it will cost you $40. There is also a free demo version available, the free version works on charts with CADCHF, CHFJPY, and USDPLN. History data is calculated only for CADCHF, CHFJPY, and USDPLN. Current calculations of market orders are without limits.

Conclusion

There are 5 reviews available for this software and all of them are giving it 5-stars.

“It’s a great tool, especially if you purchased the 4xLab trade manager, together they give you full control over your trades. Clear, easy to use, like his other tools. Recommended” – a 5-Star review.

“Damn, this indicator has so much potential… A really detailed report, now I can know how my trading is doing!!! and very cheap price!!!” – 5-Star review.

“Great tool for analyzing history!” – 5-star review.

So it seems that the software does what it is supposed to and people are finding it useful, as always though, we would suggest that you test out the free version before buying, that way you will know that you are able to get it working and to see whether it meets your requirements.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/14355

MACDivergence MTF can be found on the MQL5 marketplace, there may be others with similar names so we have added a link t this one below to help avoid confusion. The indicator was uploaded by its creator Pavel Zamoshnikov on the 24th of August 2015, it was most recently updated on the 29th of March 2017 and is currently at version 1.41.

Overview

MACDivergence MTF is and indicator for the MetaTrader 4 trading platform, it is was created to show you divergences within the moving averages on the markets.

The main features of the indicator:

-It detects and displays classic and reverse divergences (two methods of detecting divergences).

-It uses different colors to highlight an uptrend and a downtrend.

-Two methods of determining a trend: а) MACD crosses the 0 levels (classic signal); б) MACD crosses its own average (early signal).

-This is a multi-timeframe indicator: it can display MACD data from other timeframes.
-Two methods of drawing: classic histogram and line.

-It generates sound and visual signals when the trend is changed and the divergence is formed. It sends emails and push-notifications to mobile devices.

The indicator comes with plenty of options and settings, they include things like the EMA periods, signal line periods, MACD colors, style of drawing MACD, to enable divergence, to show reverse divergence, the color of the divergence on the charts, notifications and more. They all allow you to slightly alter the way that the indicator functions to better suit your needs.

Service Cost

The indicator will currently cost you $15 to purchase it outright, there is not an option to rent the indicator so purchasing it is the only option available at this time. There is a free demo version available, however, this will have some limitations attached to it, these limitations are not stated on the site but it may well be worth downloading to try out anyway.

Conclusion

There are currently 5 reviews available, some positive some negative, they have given the indicator an overall rating of 4 out of 5.

“It’s just an excellent indicator, before that I drew divergence and convergence myself, it simplified my work a million times, thanks to the author very much for such an excellent indicator with many functions and pushes in Russian. I think that the price for such an indicator is very low)” – A 5-star review [translated from Russian]

“Very laggy/delayed indicator” – A 1-star review.

“It is A nice indicator for nice strategies” – A 5-star review.

So some positive and negative reviews with the majority being positive which is good to see, there are also over 100 comments within the comment section, the developer has been replying to all comments in a prompt manner which shows that they are still actively supporting the indicator. We would still recommend trying out the free version and sending any question you have to the developer to make sure it works for you and will do what you need it to before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/11365

The Arbitrage Analyzer is an indicator that is currently found on the MQL5 marketplace, there may be other indicators with similar names, so we have linked it below to help avoid any potential confusion. The indicator was published in the MQL5 marketplace on the 28th of November 2017, the current version available is version 3.61.

Overview

The Arbitrage Analyzer is an indicator for the MetaTrader 4 trading platform, it works by allowing you to export price data from one MT4 terminal and import it into another or the same terminal. The indicator is designed to allow you to get statistics and to let you find the most profitable arbitrage for cryptocurrencies, but it can also be used for Forex, Futures, and Commodities.

Some of the features included with this indicator:

• Plots imported price data on the current chart
• Import Data & Analyze Trades mode
• Plots trades on the chart (entries, exits, profit, and loss)
• Displays detailed statistics of past trades

There are a number of statistics including open trades, long trades, short trades, signals, positive signals, total pips, and positive percentages.

There are also a number of inputs available such as the mode, the maximum historical time to look back on, the minimum price differences, stop-loss points, take profit points, the buy signal color, and the sell signal color.

Service Cost

The Arbitrage Analyzer currently costs $30 to purchase outright, there is also an option to rent it, you can rent it for 1 month which will cost you $10 per month, you can rent it for three months which will cost you $20. There is also a free version available, we do not know what the limitations of this free version are, but it is always worth trying out.

Conclusion

Unfortunately, there aren’t any reviews, ratings, or comments available for this indicator so we have no idea if the indicator actually works as intended or is still functioning as intended. Due to this, we would recommend downloading and trying out the free version, this will give you a good idea of how it works and will also ensure that you are able to get it set up correctly and functioning for you.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/26533

Auto Trendline Plotter can be found within the indicators section of the MQL5 marketplace, we have added a link to it so you can see exactly which indicator we are looking at. The indicator was first uploaded on the 24th of November 2016 and subsequently updated to version 1.21 on the 7th of December 2016.

Overview

The Tend Line Plotter is an indicator that can be sued with the MetaTrader 4 trading platform. The indicator will draw trend lines on the chart and will draw them all from the tops and bottoms. The indicator will work on any timeframe and with any symbol and currency.

The indicator has two different draw modes which allow for completely automated drawing, the indicator will also check after each current candlestick close whenever any trendlines have been broken, it will then remove the broken trendlines and search for new tops and bottoms to draw new ones.

There are few options available with the indicator to alter its use:

• MaxBarsBack: Sets the candlestick range in which the trendlines can be plotted
• SwingMode: Sets the trendline draw mode Close/Close or High/Low
• DrawHLines: Draws horizontal trendlines on any top or bottom if set to True
• DrawCopyLines: Draws a dotted parallel trendline on the nearest bottom/top if set to True
• CopyLineStyle: Sets the style of the copied trendline of a trend channel (default is Dot)
• CopyLineWidth: Sets the width of the copied trendline of a trend channel (default is 1)
• CountBarsTo: Sets the most recent candlestick/bar from which to start plotting trendlines (default is bar [2] minimum value is 0)

Service Cost

The indicator can be purchased outright which will cost you $75, man indicators on the MQL5 marketplace can also be rented but that is not an option for this indicator. There is a demo version of the indicator, but this is only usable with the strategy tester rather than with the actually testing it on the markets or live charts.

Conclusion

Unfortunately, there aren’t any reviews available for this indicator or comments, so we do not have a good idea if the indicator is doing what it is meant to or functions correctly. Due to this, we would highly recommend that you use the indicator in testing mode, also contact the developer with any questions to make sure that it will fulfill your needs before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/19322