Tag: forex services

Scalper Gun is a trading indicator that was published on the mql5 website by programmer Mikhail Nazarenko in May of 2019. It was most previous updated to version 1.2 approximately 6 months later.

Overview

Scalper Gun is an indicator that combines scalping and swing trading strategies with visualization and pop-up, push notifications, and email alerts of entry points. The scalping aspect focuses on the concept of placing multiple orders to make multiple small gains, while the swing-trading factor attempts to capture gains over a longer period of time, like a few days or several weeks.

Here are a few more facts about the indicator:

• Works on the MetaTrader 4 platform
• Suitable for traders of all different skill levels
• Does not redraw
• Works in both trend and non-trend markets

According to the author, speed, quality, visualization, and accuracy help this indicator to be more beneficial than other popular indicators. When using it, traders will see two lines on the chart; the yellow line indicates the “slow line”, which indicates the main trend, while the “fast” dark blue line is used to enter the market. The author goes on to explain how those lines are created and used in the product’s description.

Service Cost

Traders can either rent the indicator for $89 USD for one year or purchase it outright for $100 USD. The developer throws in 10 activations, which is more than what is standardly provided. In our opinion, the product would receive more feedback if the developer was willing to allow traders to rent it for a lower rate for a smaller amount of time since the two licensing options are rather high for this type of product. Although it does cost a good bit to buy the indicator, traders can still test the demo version for free.

Conclusion

Scalper Gun provides traders with entry point alerts based on short-term scalping strategies and long-term swing trading strategies while working in different market conditions. This product hasn’t received a rating or any reviews on the mql5 website, but there are a few comments that show us that the developer is willing to implement changes on request in featured updates, so this is a plus for any users that might have a recommendation for improvement.

In the end, we feel that this product may be a bit overpriced, which has likely resulted in the lack of popularity that it has received. This doesn’t mean that it isn’t a good product, as the developer has created a successful tool. Traders will simply need to determine if the investment is worth it, so long as the indicator suits their trading strategies.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/38584

The ZigZag Probablilities indicator is an indicator to be used on the MetaTrader 4 trading platform, it uses several ZigZag level predictions based on probabilities. The indicator combines analysis of 5 zigzags with different rages, for every zigzag, the indicator will process the available history for calculating density distribution of the zigzag edges and conditional probabilities for their consecutive pairs.

Overview

The indicator will display up to 8 horizontal lines on price levels where future zigzags will most likely occur. Any trades placed must be placed manually as the indicator will not place them for you, the analysis provided by the indicator is to give you a better idea of where the trade entries and exits should be. There are few different settings that come with the indicator which can alter the way it looks functions slightly. These include the depth of history to use, the zigzag range to use, and then some various changes to the colors of lines and zigzags on the chart.

Service Cost

The indicator can currently be purchased for $75, it can also be rented on a monthly basis which will cost you $18 per month to use. There is also a free demo version available, but we do not know if this version comes with any limitations or time limits, but it is always worth trying out before purchasing.

Conclusion

There arent any review for this indicator which is a shame as it does not give us actual users’ opinions. There are currently 5 activations, so it is being used by a few people, or at least was at some point in time, but we do not know how well it functions for them. As always, we would suggest that you try out the free demo version before making a purchase, just so you can make sure that it does in fact offer the features that you require and to make sure that you are able to get it set up correctly.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/4805

Renko Full Throttle PRO is an indicator that is the sole product of author Dalya Elsadany. It was launched in August of 2018 and most recently updated to version 1.40 in November of 2019.

Overview

The Renko Full Throttle PRO indicator provides traders with clear “buy” or “exit” signals with TP and SL levels based on information that is received from analyzing Renko and/or standard charts. The indicator also evaluates the overall performance by taking the net points gained from the signals and the spread into consideration so that traders can review that information. Here are a few key highlights:

• Works on the most popular, most commonly used MetaTrader 4 platform
• Works on all symbols, indices, & timeframes
• Doesn’t repaint, backpaint, or recalculate
• Alert options: sound, pop-up, email, push notifications

While the product can be used on its own, it can also be used in combination with any Expert Advisor.

Service Cost

There are two price options for acquiring the indicator:

• Rent for $50 USD for one month
• Purchase for $68 USD

Five standard activations are included with the product. Although the ability to rent does lower the overall cost, the prices are close enough that it may be economically smarter to purchase the indicator, otherwise you’ll be paying more than the overall price by the second month. Note that a free demo is also available for testing.

Conclusion

Renko Full Throttle PRO is an indicator that can be used alone or with an EA to analyze Renko or standard charts for any symbol/indices/timeframe. The product has received a lot of attention on the mql5 website, with 47 reviews, nearly 200 comments, and a 5-star rating. Here’s what some users have to say about their results:

“”This is a really good indicator and EA. Dalya constantly providing better set files. I am really happy with the results on live account and managed to recover cost in a single day with 3 trades. But the most important thing the level of service and help you get from Dalya is excellent.”” -Ujjwal

“”The support is top-notch. Dalya shows amazing patience and works with you to ensure the product you buy and the service is top quality. Simply blown away with Dalya competence and focus on delivering excellent service. Highly recommend”” -amitk01

Judging by the reviews, it seems that the author is highly responsive and willing to help with questions that go beyond her duties. Almost every review mentions how effective the product is and boasts about service quality, so it is safe to say that this is a great product when used appropriately. If you plan on using it, you’ll simply want to compare the renting and purchase cost to make the best investment.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/40527

Two MA Crossover is a trading indicator that was published on the mql5 website by developer Thushara Dissanayake in December of 2017. It was last updated to version 1.5 in November of 2018.

Overview

Two MA Crossover is an alert system that attaches to MT4 charts and notifies traders of “buy” or “sell” signals when it detects moving average crossovers based on the user’s settings. It is based on the well-known Moving Average Crossover trading strategy, which looks for periods when a short-term moving average crosses above or below a long-term one to define a short-term trend. Many of its features focus on the alert settings that are available with sound on mobile, email and pop-up alerts. Additional email alerts can be set for time-frame, bid, ask, signal, spread, account balance, and several other options.

Service Cost

This indicator can be rented for the low price of $10 USD for an entire year, or purchased for $30. It comes with 50 activations, which should be enough to last a lifetime (most standard indicators only allow 5 total activations). The author does promote an automated EA named Crossover action and an indicator named Three MA Alert, both of which would work well with this product. If you’re interested, both can be rented for $10 a year or purchased for $30, the same as with this product. Free demo versions are also available for each product.

Conclusion

Two MA Crossover was designed to provide traders with buy/sell notifications when it detects moving average crossovers, which detect short-term trends. Naturally, this indicator is intended for those that don’t want to miss market events and that are familiar with the Moving Average Crossover trading strategy. If you’re curious about feedback, take a look at what this user has to say:

“PERFECT! This indicator works really well in combination with my strategy.” -John

The product’s 5-star rating is only based on two reviews, so do keep that in mind. We would only recommend renting/buying this indicator if you are familiar with the concept behind it, or to consider purchasing the inexpensive EA if you don’t want to do all of the trading manually. Either way, this is a useful product that seems to do its job effectively.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/27090

Volume Pointer is an indicator that was created by author Adrian Modlinski to aid traders. It was published to the mql5 marketplace in March of 2015 and most previously updated to version 1.1 in July of the same year.

Overview

This indicator’s purpose is to confirm whether the open interest among traders is high or low, according to the volume. This data is useful because volume is the most valuable data after the price. This can be measured on any type of security, such as stocks, bonds, commodities, etc. Volume Pointer also works with what is likely the most popular trading platform in existence, MetaTrader 4. Traders should note that it is impossible for the indicator to pinpoint the exact volume; however, it makes the closest estimate possible based on the number of ticks.

Service Cost

Traders can buy the indicator for $29 USD with 5 activations, or choose from several renting options:

• Rent for 1 month for $10 USD
• Rent for 3 months for $12 USD
• Rent for 6 months for $15 USD
• Rent for 1 year for $19 USD

A demo version is also available and can be accessed from the author’s portfolio on the website.

Conclusion

Volume Pointer provides traders with the closest possible estimate of volume. It is a fairly simple indicator, which works with any type of security on MT4. The indicator had received a 5-star rating, which is based on the following review:

“Great product! I was looking for something that would allow me to get an overall look at volume instead of looking it on a single bar basis. This is product exceeded all my expectations! Thank you to Adrian for creating such a simple and powerful tool.” -ninja3925

While there isn’t any other feedback, the above review tells us that the product does what it is advertised to do effectively. Should you decide to purchase it, you’ll have the advantage of choosing from several pricing options, starting as low as $10 USD for a month.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/8369

Super Soft is an indicator that was uploaded to the mql5 online marketplace by Tatisiana Mironava in December of 2018. The product has never received any updates.

Overview

This indicator was developed with both binary options and scalping strategies in mind. Through the aspect of binary options, the indicator needs to decide if an underlying asset will be above a certain price at a certain time, resulting in either a fixed payment amount or nothing at all. At the same time, the indicator follows scalping techniques that would require the user to place multiple trades in order to profit with small gains that add up over time.

The indicator uses a complex algorithm to decide which trades to place while following those ideas and provides trades with time-sensitive signals that let them know when to enter and exit the trade. Beginners shouldn’t have any issue using this tool, as parameters are very limited, and placing a trade is simple – traders should open a deal when the up arrow appears, and close the deal when the down arrow appears.

Service Cost

Perhaps one of the main reasons that this indicator hasn’t received any feedback is the cost. At $300 USD, Super Soft is priced well over the $30 average we’re used to seeing for the type of product. Keep in mind that the product would eventually pay for itself if it’s worth it, but the author doesn’t offer the ability to rent it, which isn’t the best sign. If you’re interested in testing, then the demo version will be the only option that doesn’t break your bank account.

Conclusion

Super Soft is a beginner-friendly indicator that uses a unique algorithm to determine when traders should execute deals based on binary options and scalping methods. Overall, it sounds like a well thought out product, but here’s where we’re skeptical – the $300 product doesn’t have a single rating, review, or comment, and it’s been on the market since 2018. Sure, 60+ users have tested the demo account, so it isn’t a completely disregarded product. We just aren’t so sure about paying that amount of money for something that could go either way, especially when there are so many products out there with tried and tested user reviews. If you think the general idea behind this tool is noteworthy, then you’ll have to decide whether you’re willing to be one of the first ones to try it out.

Weis Wave with Alert is a trading indicator that was published on the mql5 website in May of 2018 by author Panagiotis Diamantopoulos. The most recent update to version 5.9 occurred in September of 2019.

Overview

The Weis Wave indicator is based on Richard D. Wyckoff’s theory, which involves a 5-step approach to stock selection and trade entry. To explain its purpose more directly, the indicator adds the volume of previous price waves, draws a histogram, and follows a special pattern that predicts where the market will go by reading previous waves. Each wave moves up or down until it reverses, and in order for the wave to reverse in the opposite direction, the price must exceed the number of points set in the parameters. Although the last wave repaints, the trading method still manages to let traders know which way the market is heading.

This is especially helpful for trend trading, although other strategies can be used as well. Here are a few key facts about the indicator:

-Works on the award-winning MetaTrader 4 platform.

-Can be used in any market or timeframe with range bar and tick bar charts (not to be used with constant tick charts).

-Speed Index has been added to show the speed of the wave.

-Alerts can be set up when the waves meet certain criteria set in the parameters or if the Speed Index is above/below a certain value.

-Manual and YouTube channels are provided to explain wave trading.

Service Cost

The author offers three separate pricing options, along with demo accounts:

• Rent for $140 USD for one month
• Rent for $320 USD for 3 months
• Purchase for $420 USD

Each option comes with 5 total activations of the product. For an indicator, the price is set fairly high, as traders can find many options in the $30 range, or purchase an automated trading robot for less than the monthly renting price in some cases. Keep reading to find out if others got their money’s worth.

Conclusion

Weis Wave with Alert is based on the Wyckoff Method, which was created by Richard D. Wyckoff, who is considered a pioneer in the technical approach of the stock market. The indicator analyzes waves, follows a system to predict which way the market will go, and provides traders with helpful alerts when waves follow certain criteria. It’s on the expensive side, so we were curious about other’s experiences. Fortunately, 5/5 users have left a 5-star review. Here are a few examples:

“Simply a good quality indicator. It helps me to understand what the market is doing. Suitable for a different type of strategies.” -johnlyj

“This purchase was smooth and the indicator delivered exactly as it promised.” -knighttrader7

“…The alerts help you monitor wave pips and the download is perfect and trouble-free, an upgraded indicator is certainly worth paying for and also has many different trading opportunities…” -forix7

The last user went on the claim that the product paid for itself within the first 12 hours of using it, although this wouldn’t be the case for everyone. Still, feedback for this product is excellent and it seems to be a helpful tool when used correctly. If you can afford it, then you’ll want to consider whether this indicator could be helpful in combination with your personal trading strategies.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/29677

TrendMagiX is an indicator that is available on the mql5 marketplace. It was developed by Radek Reznicek, who has published 25 separate products on the website. The indicator was originally added on January 11th of 2020, with the latest update to version 2.4 occurring a few months later.

Overview

TrendMagiX is a trend-following indicator that uses an advanced algorithm to provide traders with trend detection alerts, take profit advisors, and a success rate calculator. Traders will find that the indicator is compatible with the most well-known trading platform, MT4, and it is versatile enough to be used with any timeframe or trading instrument. It is important to use the correct timeframe for the type of trading you’re doing, however, i.e. D1 and above for long term trading, M15 for scalping, and so on.

Service Cost

Traders can buy the indicator outright for the standard $30 USD price, or rent it at a lower rate. There are multiple renting options, including $15 for one month, $20 for 3 months, $25 for 6 months, or $29 for one year. The developer’s decision to offer lower prices is an added advantage, along with the fact that free demo versions of TendMagiX are also available for testing.

Conclusion

TrendMagiX is a trend-finding indicator that works with all timeframes and instruments, although traders will want to use specific timeframes with certain strategies. It is suggested to use pairs with a success rate that is higher than 65%, along with a low spread broker for scalping strategies. It costs $30, but it can also be rented at various lower rates. This indicator is well-liked among community members, with all 21 reviewers giving it a 5-star rating.

Here’s what some traders are saying:

“This indicator is easy to use and it is powerful. Author is also very helpful and is responding fast.” -StephB

“The best indicator I have tried.”-Maxitrader87

“It’s Great, its push notification is invaluable.” -Simba

As you can see, this is a tried and tested product that has been used effectively by multiple traders. The best way to set yourself up for success would be to choose the most economic price option and to follow the author’s advice (located within his attached blog) about the best ways to use this indicator.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/45324

Harmonic patterns are used to best predict the possible tipping point in trends. Therefore, the harmonic patterns are the secondary patterns of the inflection point patterns. Traditionally, the Harmonic Pattern was identified manually by connecting extreme points in the charts. Manual detection of harmonic patterns is quite tedious and not suitable for all traders. It is often exposed under the subjective identification of the pattern with manual detection of the pattern. To avoid these limitations, Harmonic Pattern Plus was designed to automate your harmonic pattern detection process.

Overview

The functionality of the Harmonic Pattern Plus goes beyond the manual pattern detection and focus that appears in textbooks. Harmonic Pattern Plus provides many harmonic patterns that have been tested in many historical moments, and have been researched by its developers. In addition, you can use the three most important trading items, including the Pattern Completion Interval (PCI), the Potential Investment Zone (PRZ), and the Potential Continuation Zone (PCZ), to improve the accuracy of your trade. You will be able to experience, with the use of this indicator, very high performance in your trade.

The main features of the Harmonic Pattern Plus are:

• Up to 11 Harmonic Patterns can be detected automatically.
• Detection of potential investment area (PRZ) for identification of point D.
• Detection of potential continuation zone (PCZ) for prediction of future price movements.
• Pattern termination interval detection (PCI) for precision trading.
• Forward and backward response function to create a new trading strategy.
• Function locking and unlocking patterns to avoid repainting patterns.
• Up to 52 different upward and downward patterns characteristic of candelabra recognition.
• You have email support, sound alerts or Push notification
• Setting Harmonic Pattern Plus indicators and Parameters

The default setting will work most of the time. If you want to change the look of the indicator on your chart, you can certainly change it from the input settings to your liking. All input settings are self-explanatory. The simple description is given in the columns on the left side and you will only need to change the value in the columns on the right side.

Special Note

The purchase of this product does not include free encoding support to build EA or any other indicator. All the harmonic pattern indicators and the scanner are repainting. If you prefer not to repaint Elliott’s harmonic pattern and wave pattern indicator, please use the cost-effective pattern scanner. The cost-effective pattern scanner is just a harmonic pattern indicator not repainted and not delayed in the world.

Conclusion

In short, we are talking about an indicator that is well known and used, especially by experienced traders. This indicator was created in 2014 and since then has accumulated hundreds of comments, most of them very positive. So we can say that this is a highly useful indicator. This indicator can be found in the MQL market in the indicators section for a price of 98 USD, although you can also rent it monthly for 30 USD. It has a free demo version so you can try it before purchasing it and see if the indicator can be adapted to your trading style or not.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/4488

The Moving Average Cross EA is an expert advisor that can be found on QUIVOfx. The expert advisor is currently on version 1.03. The way that the expert advisor works is that it will use moving averages to trade, a buy signal will be generated from the moving average crosses, either buy or sell depending on where the cross is. The expert advisor allows for trading simple, exponential, smoothed, and linear-weighted moving averages.

Overview

The Moving Average Cross EA can be used on the MetaTrader 4 trading platform and is currently not available to sue on any other platforms, it comes with three different versions, Basic, Advanced, and Pro, each having their own little features.

-The Basic version comes with money management, the ability to trade on a new bar, and an inverse strategy.

-The Advanced version comes with everything the basic version does, as well as the ability to use trailing stops, a break-even system, a spread filter, an MA trend filter, and a feature called trade max once per bar.

-The Pro version comes with everything the advanced and basic versions do, as well as the ability to close on a new signal, the martingale system, a candle trail, an ATR trail, a da/time filter, the ability to reverse on opposite signals and a trade direction feature.

Service Cost

The basic version of this expert advisor is free of charge, the advanced version has a cost of CHF 29.90 while the Pro version has a cost of CHF 39.90. There isn’t a demo but as the basic version is free, this could be used as a demo for other tier versions. If you do not like the expert advisors, you are able to exchange it for a different one within the first 7 days after purchase.

Conclusion

There aren’t any written reviews on the site, instead, there is a small rating section that has had 361 ratings added to it. The current score is 4/5 stars which are pretty impressive for something with so many ratings, this shows that it must have some potential and works for the majority that is currently using it.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/11578

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

Overview

Narrator Fibonacci Auto and Manual is an indicator that was created for the MetaTrader 4 trading platform, its main purpose s to draw ZigZags onto the chart, it will then use these ZigZags to work out Fibonacci levels, it will do the majority of it fully automatically.

The main benefits of using this expert advisor:

• Voice alerts, with 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.

You do not even need to be in front of your computer and still have an idea where the market is heading to simply by listening to the voice alerts. You can predefine yourself the number of pips you want to be alerted in advance. Currently, they support 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. In terms of parameters, three are a few such as setting the depth, deviation, backstep for ZigZags, changing the number of ZigZag lines, which lines to use Fibonacci levels on and more.

Service Cost

The indicator will currently cost you %400 if you wanted to purchase it outright, this will give you 7 activations of the software. There is also the option to rent it, you can do this on a monthly basis which will cost you $20 per month, for three months it will cost $40, for six months it will cost $59 and for a one-year rental, it will cost you $100.

There is a free demo version, but the details of it are not stated, due to the lack of information it may only be usable on the strategy tester within MetaTrader 4.

Conclusion

Sadly, there are no user reviews given for the indicator so we do not know how people are finding it or if it is, in fact, doing what it is meant to be doing. There are two comments from people who have purchased it, the developer has not responded to either of them which is not a great sign, we would strongly suggest trying out the free version, we would also send any queries or questions that you may have to the developer, to make sure that it will do what you need it to, and also to check whether the creator of the indicator is still supporting it and the people who have purchased or rented it.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/11578

The Market Profile Multi Sessions is an indicator that can be found on the MQL5 website and marketplace, we have provided a link just in case there is another similarly names indicator so you know exactly which one we are referring to. The original indicator was released on the 16th of April 2015, it has been updated a number of times and was last updated on the 25th of December 2017 and is now at version 1.53.

Overview

The Market Profile Multi Sessions is an indicator that can be used with the MetaTrader 4 trading platform. The indicator is designed to give a graphic representation that will show you the price and time information of distribution.

The indicator can:

-Determine the amount of time, number of ticks and volume traded at specific price levels or price ranges during a period
Identify prices perceived as fair by the market.

-Identify support and resistance levels to anticipate future price movements.

The indicator will show you the price ranges where trades were made and the most traded trade ranges.

Some of the main other features of this indicator:

-It can have up to 4 sessions each day. You can choose whether to display 1, 2, 3, or 4 sessions by enabling or disabling the session number from indicator parameters.

-View the market generated data at glance, such as IBR (the Initial Balance Range), VA (Value Area), POC (Point of Controls), Single Print, Half Back (Mid Line).

-Mark price range levels by clicking the additional price scale level created by the indicator.

-View Splitted Profile (Segmented Profile).

There is a large number of parameters available, these include things like grid multiplier. Tick volumes, font sizes, row sizes in pips, and more.

Service Cost

The indicator can be purchased for $38, it can also be rented, you can rent the indicator for 1 month which will cost you $13 per month, you can also rent it for a 3 month period which will cost $20. There is also a free version available, but we do not know what the limitation of this free version is.

Conclusion

There are 9 reviews available, the overall rating of these reviews is 4.5 out of 5 stars which is an impressive score, the majority of the reviews are 5-star with a single 3-star review and one 4-star review.

“It is nice, but it needs the “merge profiles” function, like in TPO Chart2. You could add the tick volume profile to TPO Chart 2. We should be able to customize more options like the value area size, what If I wanted to use a 25% value area instead of 70%? We should be able to choose the value area to be highlighted based on TPO OR the volume profile. Should be able to show only TPO POC or Volume Profile POC. When those features are added I will give 5 stars.” – A 3-star review.

“This is really useful, all you need for trading with Profiles!” – A 5-star review.

“Thank you! It is really perfect work. I wish you much success my brother” – A 5-star review.

So the reviews ar every positive which shows that it does what it is meant to, you should always try out the demo version though, just to make sure it suits your needs and that you are able to get it working prior to splashing out any money.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/9008

The Market Open Hours Indicator can be found within the indicators section of the marketplace on the MQL5 website. We have provided a link to it just in case there are others with similar names. The indicator was uploaded by Kok Jye Yen on the 4th of July 2016, it has had a few updates, the most recent update was on the 11th of June 2018 and that brought the indicator up to version 1.3.

Overview

The Market Open Hours is an indicator for the MetaTrader 43 trading platform, the purpose of the indicator is to show you the times where the markets open, change, and close. This will allow you to know when the liquidity in the markets might change, such as a time when the markets switch over, the indicator works with the M1, M5, M15, M30, and H1 charts and can give up to a 2-week time span.

Some of the main features of this indicator:

-Changeable market name; up to 7 market names with their respective time zone and color settings.

-Changeable open and close market hours for each market name. Default settings – open: 08:00, close: 17:00.

-Time Bar (option to turn On/Off).

-TimeLine (option to turn On/Off).

-Event Label (text indicating opening/closing on the timeline for the respective market, with the option to turn On/Off).

-Changeable market place name, time zone, and color.

-Dynamic Time Zone handling; meaning whichever time zone your server maybe, this indicator manages it dynamically. Hence, the indication of market opening hours is always correct.

-Dynamically handles daylight saving according to your PC settings.

-Time Bar and Event Label adjust dynamically with each change of the chart, giving the trader a sense of order.

There are also a number of parameters that can be altered, these include things like the market, time zones, time to open and close bar colors, to display bars, lines and labels, local time zone, number of weeks to display, and line and text color.

Service Cost

The indicator can be purchased for $200, this will purchase it outright and give you unlimited access without any limitations. There are also a few options to rent it, you can rent it on a monthly basis which will cost you $20 per month, for three months it will cost you $50, for six months it will cost you $75 and for one year it will cost you $100.

There is a free demo version, however, the site does not indicate what the possible limitations of the free version are, we would still suggest downloading and trying it out though.

Conclusion

Unfortunately, there aren’t any reviews available for the indicator, there is also just one comment the developer replied to it promptly which is positive. Due to there not being any reviews, we would very strongly suggest that you download the free version, even with the limitations that it may have, you should also contact the developer with any questions, this way you can make sure that the indicator is right for you before you make a purchase or a rental.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/17075

The Fractal Breakout Indicator is a creation from Forex Trading Robots, a site, and a company that has created a large number of different bots. This is slightly different from the other creations as it is an indicator and not an automated trading robot.

Overview

The purpose of this robot is to pinpoint the perfect trade on any forex chart. There are a number of features boasted on the site, some of them include the fact that the indicator evaluates the strength of a particular trend and calculates the best time to enter based on retracements. After a retracement, the indicator waits for a fractal set up. Easy to read arrows let you know a potential trade is coming up. It also has built-in Fibonacci levels in order to automatically take profits.

The indicator has been designed to work on the MetaTrader 4 trading platform and does not seem to be compatible with any other platform.

They have a few results posted on the site, we will have a brief look at the past three months results:

• January 2020: $30,669
• February 2020: $28,306
• March 2020 up to 14th: $17,934

These results are very impressive, especially during a period of major volatility (the Coronavirus outbreak). In fact, they are a little too good, when we look into them in more detail, we can see in March 2020, there was a profit of nearly $18,000 (at the time of writing) and an absolute drawdown of just $22, these are some of the best figures you will see anywhere in the world, and so this leads us to believe that they may not be exactly true.

With lot sizes of 1 lot, we would expect a far greater absolute drawdown. The account being used also applies to be a demo account with equity of nearly 4 million USD, not an account size any of their potential clients will be using. The results are just as unrealistic on the February sheet, with an absolute drawdown of exactly 0 USD… a bit too hard to believe. The results have also not been verified by a third party like My FX Book, so there is a chance they could have been doctored.

Service Cost

The robot currently costs $59.00 to purchase, this is with a 70% discount as it originally cost $199.00, this is a similar discount to all other robots on the site and they seem to be on a permanent sale. There is also a timer on the site indicating that the sale will end, however when you refresh the page the time resets, this is a devious marketing ploy used by a lot of marketers to try and coerce people into making hasty purchasing decisions. There isn’t a demo available of this robot, but Forex Robot Trader is providing a few demo bot to use in order to test out how they may work.

Conclusion

There are a number of reviews on the site from customers, however, it always builds a bit of skepticism when all the reviews are 5 starts, there is just 1 four-star review, the order of the reviews in terms of where the 4-star review is located is very similar to the other robots on the site, so this again leads us to believe that the reviews may not be real.

“Here’s a quick shout to let you know this week has been a.w.e.s.o.m.e.! With the help of the webinars, I managed to close out 900 profit.” – A 5-star review.

Other reviews from around the internet state things like “I bought the EA and it doesn’t work as shown on the website. The website shows super high profits while my own account was killed within 2 weeks.” So there is a huge contrast in the opinions being made, we understand that Forex Trading Robot may not want to add lower star reviews on their site, but only having 5-star reviews is a little deceiving.

This Forex service can be found at the following web address: https://www.forexrobottrader.com/forex-indicators/fractal-breakout-forex-indicator

The Cluster RSI can be found within the Indicator section of the MQL5 marketplace. There are several indicators with very similar names, so we have added a link below to the exact indicator that we are looking at. The indicator was first uploaded on the 31st of July 2015 by its creator Ahmed Saad Soliman, there haven’t been any further updates so the indicator is still on version 1.0.

Overview

The Cluster RSI is an indicator that has been created for the MetaTrader 4 trading platform, the indicator will calculate the performance of each currency against the 8 major currencies (EUR, USD, GBP, AUD, NZD, CAD, CHF, and JPY) using RSI. The Cluster RSI indicator will buffer 2 lines for each currency that is attached to the chart. So for the GBPUSD pair, it will draw a line for GBP and for USD.

The main advantage of the Cluster RSI over normal RSI is that the normal RSI only looks at the overall speed and movements, while the Cluster RSI looks at both currencies involved giving a much better view of what is actually happening.

There are just two inputs and parameters that can be altered within the indicator:

• RSI Period: This is the RSI value, 14 is the Default input.
• RSI MVA Period: This is MVA Period to smooth RSI Line, 5 is the Default Input.

You can use the indicator in the following ways:

-Lines Crosses.

-For Intraday Time Frame. This is working well when we use multiple Time Frames and take the cross over in the overall Trend Direction.

-For Daily Chart we can take the crosses in the direction of the moving average (for example when the price below 200MVA we will take the cross over and when the price is below 200MVA we will take down cross over).

Overbought and oversold with Divergence:

• First Line currency (Base Currency or First Currency in the symbol) is overbought.
• Price is making higher highs and higher lows.
• Second Currency Line is making Divergence.

Service Cost

The Cluster RSI indicator can be purchased outright for $25, there isn’t a chance to rent this indicator, the only option is to purchase it. There is a free version available, this will have some limitations to it, but at this time we do not know what the limitations of the free demo version are.

Conclusion

At the time of writing, there are currently 4 different reviews available, each one giving the indicator a 5 out of 5 ratings.

“Very good! Thanks, Ahmed! Any chance you could optimize it for metals?” – User Review

“Hi Traders, here I review a very good product based on clusters(I recommend studying this stuff). It is working properly as described if you have enough history onboard (MT4). Support is very good and does solve your problems, if necessary. I don´t regret buying this high quality and really cheap product. 5 Stars Thumbs up! These days I realized, that you can use the indicator for signals from base currencies crossing the 50 line. In comparison with the normal RSI, you get earlier trend signals. But, still, you have to look at the currencies cross each other. In the case of the base currency cross the 50 line before the currencies cross each other, look carefully at your trade. If the currencies cross each other before the base currency crosses the 50 line, it would be a really strong signal. The Cluster RSI is just worth the money.” – User Review

So as you can see, the reviews are very positive, there are also a few comments, the author of the indicator has replied to some of them but not the most recent ones, however, it has only been a day or so. As there aren’t too many reviews, we would highly recommend that you download and try out the free version, this will give you a chance to try it out and ensure that it works before you put any money down for a purchase.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/10648

The developers of the Color Trend FX indicator claim that it shows in the graph the exact entry points to the market, exact exit points, the maximum possible benefit of a trade (for those who make profits according to their own system for outbound offers), points behind open positions as well as detailed statistics. Statistics make it possible to choose the most cost-effective trading instruments and also to determine the potential benefits.

Overview

The indicator does not redraw your signals, is easy to configure and manage, and is suitable for beginners, advanced merchants, and professionals. Color Trend FX is just one part of the business tool portfolio that has Alexey Minkov, the developer of this indicator, and will, therefore, be continuously updated and supplemented with new features, which will be available to all users. He is a very active developer and gives an excellent after-sales service to his clients, according to the opinions contrasted by us.

Color Trend FX Features:

• Automatically determines market entry points
• Automatically determines market exit points
• Can be used in any symbol and deadlines
• Ability to track open positions
• Extended ticket statistics (separate for bids for purchase and sale)
• Email notification, terminal alerts, and push notifications functions
• The signs are not repainted
• Signs strictly on the “Bar Lock”

Main Adjustments

-Accuracydelta – precision of the input filter. The lower the value, the more “noise” the signals.

-If the rating is large, the signal may be delayed.

-Days needed for calculation – total number of days for calculation.

-If your computer is not very up-to-date on hardware, you may be able to limit the number of bars for calculations

-Show extended statistics – shows extended statistics on offers.

-Delta to Draw Arrows (in Pips) – scrolling in pips to show the signs on the chart.

Important Note

The purpose of this instrument is to show precise entry points, points for final open positions, and exit points. It also shows statistics on the potential benefit for the current instrument and the time frame. It is not advisable to trade during important news, in order to avoid false entries. Trading in a low volatility market is not recommended.

The principle of using the average profit data in the current symbol and timeframe. By analyzing different pairs and time frames, you can choose the most cost-effective pair and the right time frame for your trading style. Knowing the average benefit of the current instrument and the timeframe, you can select the average profit level for the next operations.

Conclusion

In short, we talk about a very complete indicator and it can be very useful for a beginner trader, as it is a straightforward tool to use and to understand. This indicator can be found in the MQL market in the indicators section, at a price of 60 USD, is not available for rent, but it has a demo version so you can try it out and know it before buying it.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/21331

CCI Divergence is a reasonably useful indicator in itself, but it is even more effective when used with divergence pattern trading. The CCI Divergence indicator signal is one of the most potent signals among the indicators that exist in the market. Divergences indicate a potential investment point because the directional moment does not confirm the price. A bullish divergence occurs when the underlying value makes a low, and CCI forms a higher low, showing less downtime. A bearish divergence is formed when security records a higher and the JRC forms a lower high, showing less upward momentum.

Overview

The indicator, in addition, finds hidden divergences (HD). Hidden divergences are in the direction of the trend, and are often powerful signals for trade. This indicator is very functional and can significantly improve the outcome of your trading. With this indicator we can use several time frames, although time frames below M15 are not recommended, the most recommended are H1, H4, and D1.

Method of Price Detection

The indicator detects the price pivots and checks the corresponding value of the pivots on the CCI indicator. When divergence is found (a price movement with the oscillator in the opposite direction), the indicator will draw lines on the chart and the oscillator.

Parameters that can be adjusted on the indicator include:

• ICC Period
• CCI drawing type (line or histogram)
• Color Of Lines CCI/ Bars
• Bullish divergences, (Choose a color to draw bullish divergences)
• Bassist Divergences, (Choose a color to draw bearish divergences)
• CCI lines/bar thickness
• Divergences Lines Thickness
• Divergence line style (Enter a solid, discontinuous, etc.)
• Alert (on/off)
• Divergence filter (You can choose to show regular or hidden divergences or both)
• Send Push notifications (To know when divergence occurs)

Conclusion

We are talking about a primary and very useful indicator, which can be used as a strategy by itself. Among the users’ comments, there are some dissatisfactions about the operation of the indicator in some periods of time, but the developer takes care of all the doubts and updates the versions of the indicator frequently, so it seems that the after-sales service is good. This indicator has a price of only 30 USD, and can also be rented for 12.50 USD for a period of 3 months. Also, you have a free version for your test before you buy it.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/30884

The AFX Stochastic Trendline is an indicator that draws on your screen all trends automatically and is fully customizable. The main features of this AFX Stochastic Trendline indicator are listed in this FX review.

Overview

AFX Stochastic Trendline Indicator draws the following on the stochastic indicator:

• Moving average
• Bollinger Bands
• Trendlines
• Canales
• Channels of Linear Regression

This is an indicator for MT4 that detects the most straight trend lines and automatically plots them in the graph. If you often rely on trend lines for your daily trading, this indicator will make it much easier to work with them and ease the need to detect and draw lines each time manually. The indicator shows only the most real trend lines. This means that the line will be removed from the chart if its interaction with the price is no longer expected.

The indicator does not redraw, but can change the angle of the lines when new ends occur. This is a suitable indicator for intraday and swing currency trading. The optimal time frames to work with this indicator are M15-H1.

Trend lines (TL) are a primary analysis tool, so it is compatible with any indicator and trading system. If you are a novice trader, this indicator will help you understand what a trend line is. Also, as you observe the work of the current indicator, you will learn how to draw trend lines on your own. For experienced operators, the indicator will suggest trend line options and also save a lot of time setting them.

Initially, the indicator tries to locate all possible trend lines in the graph. Then, using specific filters, it will exclude more than half of the lines found. Then the indicator checks the quality of the remaining and shows the two best trend lines in the chart. Therefore, there can only be two lines in the chart at the same time:

• Ascending line (blue)
• Descending line (orange)

How to Trade with the Trend Indicator?

Most trade techniques with trend lines can be classified into two main groups:

• Price rebound (reversal) from trend line
• Break of trend line.

Price Rebound

It has always been commented that trade with trend is the most successful. This is explained by the fact that asset prices tend to continue the trend, while a reversal is less likely. Based on the above logic, it is more favorable to open a trade next time, once the price touches the trend line. When this happens, in addition to a potentially profitable trade, you will also get the optimal risk ratio. Thus, the strategy of “TL’s price rebound” implies:

• Buy when the price has approached or has touched the rising line.
• Sell if the price has approached or touched the low line.
• Breaking the Trend Line

Finally, all trend lines will be broken. However, traders do not miss the opportunity to make a profit, even in this case. That’s why there’s a strategy of how to negotiate when the trend line breaks down.

Conditions for entering the market:

-If the downline has broken, and the price has been set above it, you must make a purchase when the price also touches the line again from the other side.

-If the ascending line has been broken, and the price has been set below it, you must make a sale if the price also touches the line again from the other side.

Conclusion

We are talking about a basic indicator, created in 2015, but quite complete, and that has a good number of users who, in general, are satisfied with it. It is recommended for all types of traders, you can find it in the MQL market for a price of 40 USD, although you also have a free trial version.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/12089

ADXS is a trend indicator, created in 2014 by Stanislav Korotky. The Mean Directional Index, or ADXS Indicator, is an indicator designed to measure the strength and direction of the market trend. The most powerful business strategies, or at least some of them, revolve around market trends, to work for or against you. If you are able to identify when a trend is forming correctly, you will be increasing the odds in your favor considerably. Just as useful as identifying a trend is measuring its strength. There are a variety of indicators that try to achieve this. ADXS is one such tool.

Overview

The ADXS Indicator is used for three purposes:

• Measuring the strength of the trend
• Find the Trend and Range
• As a filter for different trading strategies

The ADX Indicator can be used in many financial markets, such as stock exchange, Forex, CFDs, etc.

Configure ADXS Flag

The value 14 comes by default, and the traditional way of representing the ADXS is to display three lines below the main price chart.

These lines include the following:

• A thick blue line for the ADXS indicator
• A green dotted line for +DI values
• A dotted red line for -DI values

Basically, the ADXS indicator has a range of 0 to 100. Above 25 to suggest a trending market. Below 20 to suggest that there is no trend or that it is weak.
As you can see, these premises leave you in limbo with values between 20 and 25. For this reason, many technical analysts use the 25 as the key level between the existence of trend and not.

How to interpret the ADX indicator to measure trend strength:

-The ADXS directional system can also measure the change in market sentiment by following changes in price range.

-The current maximum is above the previous maximum, the ADXS indicator suggests that the market is more optimistic than before.

-If the current minimum is lower than the previous minimum, the ADXS indicator suggests that the market is now lower than before.
You can enter these levels manually within the properties of the indicator.

Conclusion

The ADX indicator is a real guide to the strength and direction of the trend. It uses the directional components + DI and – DI.
As a reminder, even if + DI, – DI, and ADXS are displayed simultaneously on the MT4 trading platform, the ADXS indicator for MT4 is a delay indicator. This means it does not indicate a trend until it starts, so you can miss good market entries.

The best way to use this ADX technical indicator is to use it as:

• A method to confirm an ongoing trend.
• Complementary tool, together with other analytical measures.

Therefore, whatever your trading style, you can trade a trading strategy with the ADXS flag. There are many similar indicators in the market, we have already analyzed some. We believe that a trend indicator, supplemented by other indicators, is a good option. This indicator does not have many user reviews, but the ones there are positive. If you want to purchase this indicator, you can find it on the MQL market for only 11.95 USD, and you also have a free trial.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/5052

Average Directional Movement Index, or ADX indicator, was developed in 1978. J. Welles Wilder created this indicator, which is a trend based on the moving average. In the ADX indicator, we will display 3 lines: the ADX line, the plusDI (+DI) and the minusDI (-DI). This indicator is included in Metatrader 4 and 5.

Overview

One of the keys in trading is to know if the market is developing a definite trend, bullish or bearish, or on the contrary, if the market is evolving laterally, without a clear impulse. An operator who knows how to interpret market behavior will be better able to adapt its trading strategy or, which is the same, to be able to issue the most appropriate market orders at any given time.

As is known, operating in the direction of a sharply defined trend could reduce the risk of trading and increase the potential profit.
The technical analysis has specific tools to be able to identify the market situation at any time and to be able to determine the strength of a trend.
One of the most used tools for this purpose is the ADX indicator. In fact, ADX is the indicator that is often used to confirm the formation of a market trend ultimately.

The ADX is a technical indicator within the so-called oscillators. Being an oscillator its value moves within a defined range, between 0 and 100. The most important feature to be known about the ADX is that, unlike other indicators, such as stochastic, the ADX does not identify whether a trend is bullish or bearish. What the ADX determines is the strength of a trend. Therefore, a strong upward or strongly bearish trend will present the same values in this indicator. For this reason, the ADX is the indicator used to determine whether a market is in a lateral situation, oscillating over a given range or, conversely, whether that market is starting a new trend.

The ADX calculation is based on a moving average of the expansion of an asset’s price range over a given period of time. It is usually used as a calculation period of 14 days. The ADX can be used on any product that is traded on a financial market as shares or currency pairs. The ADX is represented as a line whose values range from 0 to 100. The higher the ADX value, the stronger the price trend. Similarly, low values indicate weak trends or even no trend. The following table represents the commonly used reference values when utilizing this indicator:

Value of the ADX Strength of the trend:

• 0-25 Absence of trend
• 25-50 The strong trend
• 50-75 Very strong trend
• 75-100 Extremely strong trend

The ADX is a key indicator for adapting trading strategies at any given time. An ADX below 25 is indicative that the price of an asset is moving without a definite trend. If the ADX is kept for a time below this value, the price of the asset will likely end up oscillating within a given range, with a defined pattern. In this case, an operator can take advantage of this movement by applying range trading strategies. When the ADX is above 25, the operator will change its previous range strategy and apply the trend based trading strategy.

Conclusion

The ADX EA is a straightforward robot, ideal for a beginner trader who wants to start using an easy to understand the automated system. In addition, there is a free basic version to test the robot with the most straightforward functions. If the robot is satisfactory to the user, there is an advanced version and a Pro version at affordable prices of 29.99 and 39.99 Swiss francs, respectively.

This Forex service can be found at the following web address: https://quivofx.com/expert-advisor/adx-ea

Pyramids Trend Line is a trading indicator that was launched on the mql5 website in February of 2020 by author David Ayad. It was last updated to version 1.20 in March of 2020 to add a scanner tool.

Overview

The Pyramid Trend Line indicator combines multiple indicators in order to detect the current direction of each timeframe so that traders do not have to search for this manually. The tool also assigns a percentage to the trend to indicate the current strength of the trend. The indicator works with all timeframes and instruments on the MetaTrader 4 platform. It does not repaint, backpaint, or recalculate and informs traders of directional changes via alerts.

Directions for use are straightforward, as a green line indicates an uptrend and a red line indicates a downtrend. If the uptrend is above 60%, traders should go for the “long” buy position, while a downtrend above 60% means that traders should go for a “short” sell position.

Service Cost

The author offers three separate pricing options:

• Rent for $38 USD for one month
• Rent for $58 USD for three months
• Purchase for $120 USD

It’s possible to find indicators for around $30 on the same site, so the $38 monthly rental price is a little high when compared to other options. The indicator comes with 5 standard activations and free demo accounts are also available.

Conclusion

Pyramids Trend Line is a trading/filtering tool with two main uses; finding the current direction of each timeframe, and assigning a percentage to indicate the strength of the trend. Although 30 users have downloaded the demo version, this product remains unrated and all comments were posted by the author. Typically, we’d take a look at the author’s other products to get a better idea of his/her capabilities, but this author has only added one other product that also remains unrated.

Overall, the author’s lack of popularity, along with the higher price of this indicator are downsides, but things should function accordingly if this indicator is used with a strong strategy and risk management. Perhaps testing a demo account could be a good start.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/46682

Order Blocks Indicator was published on the mql5 website in May of 2019 by the finance specialist/forex, futures, and stock trader Carlos Forero. The indicator was most previously updated to version 1.4 in January of 2020.

Overview

The Order Blocks Indicator points out high-probability zones where the price is headed, allowing one to trade on the order’s direction on the MT4 platform. Traders can also trade retracement or breakout patterns, and identify resistance or support levels, which can be used as take profit zones. Bullish order blocks are indicated with green horizontal lines, bearish blocks are indicated in red, and green, red, and yellow arrows signal bullish/bearish signals. The indicator was designed to be used with trend and market maker patterns, and a few different products are highly recommended by the author.

Service Cost

There are three options available for renting this indicator:

• One month: $49.99 USD
• Three months: $79.99 USD
• Six months: $119.99 USD

With no option for purchasing the product outright, costs can quickly add up with the price coming to just under $240 a year. If you plan on following the developer’s advice to use one of the additionally recommended products, then you’ll be looking at extra added costs, although a couple of these products are free. The author does offer a free demo, which should be used for testing before making a purchase choice.

Conclusion

Order Blocks Indicator is useful for trading in a given order’s direction, using retracement/breakout patterns, and identifying support/resistance levels. The product has received a 5-star rating, based on the following review:

“Good. Do not trade arrow to arrow as signals, use it along with your strategy.” -Aravind

Keep in mind that this is the only review that the indicator has received. While it is an effective product, Order Blocks Indicator is best used along with other products (trend indicators, signal tools, pattern tools), and we would recommend comparing the recommended options or using a product that is already owned with this indicator.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/37616

Extract Candle Power is a trading indicator that was created by the programmer Thushara Dissanayake, who has published 57 total products on the mql5 website. The indicator was launched in November of 2017 and most previously updated to version 1.3 almost one year later.

Overview

Extract Candle Power extracts the volume of candles in real-time and allows traders to analyze the volume of previous candles in order to identify the trend. Once the volume has been extracted, traders can use the situation to determine their current position or compare with the Moving Average to find reversal points. Here are a few facts about this indicator:

-Works with the MetaTrader 4 platform, which is the most commonly available and most recommended trading platform on the market.

-Works with all timeframes, but is more accurate with higher timeframes.

-Can be used with any currency.

Traders are also given several parameters to work with, which mostly revolve around the display and sessions section, with different color choices and the ability to disable the display of certain sections.

Service Cost

Traders can rent the indicator for $20 USD for one year, or purchase it for $10 more, which is a standard price for the type of product. The developer includes 5 activations with any purchase and has also made free demo accounts available for testing.

Conclusion

Extract Candle Power identifies market trends by extracting the volume of the candles and can ultimately help traders to identify reversal points. It has received a 5-star rating that is based on the following review:

“The new update looks very good. Waiting for it. 5 stars for the effort and listening to the comments.” -Erdinc

The comments section is more filled out, but there isn’t any real information about results located there. We did notice that the author took one user’s suggestion and added the ability to rent this indicator upon request, which is a great indication that he/she is willing to listen to feedback and work with clients. Should you decide to rent/buy this product, then we would recommend choosing a broker with a low spread and practicing risk-management to help minimize losses. Forex knowledge is another crucial factor that will either help or hinder your chances of profiting when using this indicator.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/26360

Classic Keltner Channel is a trading indicator that was named after the classic ten-day moving average rule described by Chester W. Keltner. This indicator was published on July 26, 2017, by an author named Muhammed Al Bermaui, who has been trading since 1996 with multiple other published indicators in his portfolio. The indicator was recently updated to version 2.2 on March 8th of 2020.

Overview

Classic Keltner Channel is very much based off of Chester Keltner’s ten-day moving average rule, which is similar to Bollinger Bands. The indicator follows a trend that identifies reversals with channel breakouts and direction, which can signal possible price breakouts, show trends, and give overbought or oversold readings. The formula outlined on the website leads to two basic lines on the chart, the buy line, and the sell line. The indicator does not recalculate its results and works for cryptocurrencies, stocks, oil, and gold on all timeframes.

You can choose from four different color lists and receive alerts through email and mobile devices with sound. Parameters are set to the default versions that follow along with the modeled system. By default, 10 candles are used in bands calculations, the buy/sell line can separate by 1.0, the moving average type used in calculations is set at Simple Moving Average, and the Typical Price used in Line Calculations is the default. It’s possible to tweak things a bit if desired, so one doesn’t have to follow these settings exactly. There is also a buffer that will allow you to build your own expert advisors.

Service Cost

This indicator can be bought for a one-time $60 USD price or rented out at $10 per month or $30 for 3 months. While the one-time deal is the best value in the long run, those that aren’t 100% sure about this indicator could rent it for 1 month to test the results without making a large investment. There is also a free demo account, which is a good sign that the developer feels traders will see good results.

Conclusion

The developer of this indicator based the formula off of a popular moving average rule and has been trading for 20+ years himself. Even though settings can be changed, you’d need to be a fan of Chester Keltner’s formula to be a good candidate for this indicator. The demo has only been downloaded 200 times, but user reviews are slim to none. If you feel that this indicator may follow profitable guidelines, then it might be a good idea to rent it for a month in order to test it more thoroughly.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/24390

Bruce’s Price Predictor is an indicator that has been released for just over a year. It was developed by Bruce Webb and published on the mql5 marketplace, with the most recent update to version 3.0 taking place in November of 2019.

Overview

This indicator was designed to show precise price reversals on a chart in order to make it easier for traders to analyze data and make informed trading decisions. According to the developer, the predictor is highly accurate and is great for scalping and swing trading. You’ll only be able to use it on the desktop version of MT4, but the indicator works with any MT4 pair and timeframe. Buy and sell arrows are shown on the chart for entry signals and confirm entries with alerts after the close of the candle or bar. The author offers some YouTube videos that help explain in more detail as well.

Service Cost

Traders only have the option to rent this particular indicator, there’s no way to buy it outright. You can either rent for one year for $100 USD, or rent it out for one month at a price of $30 USD. It’s a tough decision, considering that renting the indicator for about 3 months equals the yearly price. A free demo is available for testing and using it may help one to decide how long to rent the indicator.

Conclusion

The developer of this indicator designed it to be beginner-friendly and to make analyzing charts easier by showing exact price reversals on charts. The demo has been downloaded more than 7,000 times. This indicator has received more feedback than many others. For example:

One user commented: “Used this indicator this week and had over 90%-win rate in trades I took. Definitely must already know how to trade price action and have a strategy for yourself in place.”

Another wrote: “Just got this indicator last night and it’s awesome. I’m up over 100 pips total on day one. I think imma use this long term.”

The majority of users chose to give this indicator a 5-star review, and unfavorable comments are few and far between. All of these are good signs that this indicator is helpful, but traders need to remember that some knowledge and time needs to be invested to profit using any indicator. This isn’t a guaranteed money maker, but many users have managed to profit using the tool.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/35531

Breakdown Flat is a trading indicator that was published to the mql5 marketplace by independent author Dmitrii Suslonov in April of 2018. It was updated to version 1.1 about four months after the initial launch date in order to upgrade alert settings.

Overview

Breakdown Flat was designed to indicate the breakout (any price movement outside a defined support & resistance area) of flat (neither rising nor declining) prices in the market. The indicator draws a channel of the flat and signals breakouts based on the comparison of the Average True Range indicator and the maximum swing for ‘n’ periods. This indicator does not redraw and can be used effectively with custom trading strategies. It can be helpful on its own or in combination with other products that are also compatible with MT4.

Service Cost

Traders can either rent the indicator for $10 USD for a one-month period or $20 for a three-month period, otherwise, one can purchase the product for the standard $30 price with 5 activations. Free demo accounts are also available to be used for testing without risking any funds.

Conclusion

The Breakdown Flat System is an indicator of flat and its breakout. The system can be rented or bought for $30 and works great in combination with other indicators or on its own. Its 5-star rating is based on 3 reviews, but the demo account seems to be more popular at 500+ downloads. Here’s what some traders are saying about this product:

“This Indicator is amazing. It allows you to identify consolidation and then the “move” follows. With other Indicators, it really does a great job!” -Marko

“This indicator can increase your win rate if you know how to use it. It is a good indicator. Far more useful than many of the indicators sold in the market.” -cvdestyfx

We agree with the above trader: this indicator can certainly be helpful for those that know what they’re doing. It’s impossible to guarantee profits with any type of indicator, but using risk-management skills and an effective trading strategy can certainly help one’s chances.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/29044