Tag: forex services

AW Trend Predictor is a trading indicator that was published to the mql5 marketplace in November of 2019 by the author Alexander Nechaev. He last updated it to version 1.20 just a few weeks after the initial launch date.

Overview

As you likely guessed, AW Trend Predictor is an indicator that follows an advanced algorithm in order to provide traders with buy signals based on predicted future trends. The algorithm determines the trend, filters out market noise, and determines entry & exit levels. Traders would then receive a buy signal when the indicator determines that the success rating is more than 70%. Signals are also recorded within the statistics module so that traders can select suitable tools that would work effectively based on signal history.

Service Cost

Traders can choose between renting the indicator for $45 for one month, or buying it outright for $85 USD. The developer includes 15 activations with the purchase. Free demo accounts are additionally provided as a more cost-effective way to test the product before deciding whether renting or buying is the better avenue.

Conclusion

AW Trend Predictor takes multiple factors into account when predicting future trends and sends buy signals when the success rating is above 70%. It hasn’t received a ton of feedback, but we did find a handful of comments from verified users.

For example:

“I’m testing – review again after a few weeks but signals over 70% are pretty solid.” -Lorant

“Very useful indicator.” -Fabrizio

You’ll find that the indicator has a 5-star rating, but this is only based on 6 reviews. Since we don’t have much feedback to work with, we’d suggest testing out the demo account before buying the full version. Price is another factor in that recommendation, as the overall cost is somewhat expensive. Still, this indicator seems to provide a simple, yet effective experience and it could help traders to profit as long as it is used wisely.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/43299

Advanced Supply Demand is a trading indicator that was added to the mql5 marketplace in February of 2017. It was published by Bernhard Schweigert, who has 12 products in his portfolio. The indicator was last updated to version 3.0 in February of 2020.

Overview

This indicator is highly suitable for supply and demand traders because it pinpoints the exact point of entry using underlying algorithms, but it is also suitable for other trading strategies and in combination with other indicators published by the developer. Here are some of the indicator’s highlights.

-Traders will be able to view double timeframes, including both the chart and the higher timeframe through the newest update.

-Works with all products and timeframes.

-A new update will allow traders to choose zone strength functions, which will allow them to tell when the zone is too strong.

-This indicator is compatible with MT4, but an identical version is available for MT5 from the same author.

There are different options for alerts, making it possible for traders to choose when they want to be notified, such as when the price enters the zone or etc.
The indicator graphically shows the strongest supply & demand zones plus how it performed in the past

Service Cost

The indicator can only be rented at a rate of $65 USD for 3 months or $85 for one year. It’s a little disappointing that traders cannot simply buy the indicator outright if desired, especially considering that the costs are a little high. On the bright side, there is a free demo available that could certainly help one to get a feel of the indicator and aid in the decision as to whether the pricing fits.

Conclusion

Advanced Supply Demand is best for supply and demand traders, as one might assume, but it also works well with other trading strategies. The indicator has recently been updated with a new formula and comes with a variety of features and settings while remaining compatible with all timeframes and products. It has received more than 200 comments and 8,000+ have downloaded the demo version. We’ve provided a couple of user comments below:

“This is the most powerful tool I have ever used on MT4! Highly recommend” -Profit_Trader

“Very useful tool. Helps me with the key levels and those alerts are really amazing.” -Costy Tube

Many users also mentioned that support is great and this indicator works in combination with other tools developed by the author quite well. Although it is a bit expensive, the multitude of 5-star reviews and positive comments make us more confident that this indicator does its job well.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/20582

RenkoMaSignals is an indicator that was added to the mql5 marketplace by Sergey Deev. It was uploaded in June of 2016 and has remained at version 1.2 since being launched.

Overview

This indicator was designed to display Renko Bars on the chart and to generate buy/sell signals based on whether the fast-moving average is above or below the slow-moving average. Automated trading is possible based on the buy/sell signals output to the indicator buffers and the indicator can work on any timeframe since Renko-bars are not bound to any timeframe. Automatic alerts are yet another feature that helps to make trading more efficient for the user.

Service Cost

It costs $30 USD to buy the indicator outright, and this comes with 5 activations. Traders also have the option to rent the tool at a lower price of $15 per month or $20 for 3 months, which makes testing possibilities more realistic. A free demo account is also available for any user that would like to use one.

Conclusion

RenkoMaSignals is one of many trading indicators that work with Renko-bars. This particular version displays buy/sell signals to aid traders in making profitable decisions. This indicator has managed to receive some online attention, with more than 500 traders testing the demo version, although there aren’t many reviews that mention how effective it was overall. Take a look at some of these comments that were left by users who purchased the product:

“This indicator uses a phenomenal amount of RAM, way too much!” -David

“Unfortunately, it reprints – it’s good for the purpose of education but you can’t count on it to make a sell or buy decision.” -sweethomeboy2

The author did respond to the latter comment stating that it does not reprint, but we did notice another user claiming that there was a problem downloading after purchase. The overall price of this indicator isn’t bad at $30, but we’d recommend testing the demo and perhaps renting for a month before making the larger deposit, based on these reviews.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/16836

Renko Bars 3in1 is an indicator that was published in the mql5 marketplace on January 17, 2018, by an author named Yuriy Shatsckiy, who has published multiple other indicators that are based on similar concepts. The current running version is 1.10. It was previously updated with a change to the formula for the construction of bars at the beginning of March of this year.

Overview

This indicator is designed for plotting Standard Renko Bars where the price is twice the size of the bar, Renko Range Bars where the price is the same, and Renko Bars with the ability to adjust the size of the bar. Renko Bars deviate from traditional charts because they are only focused on the price and don’t show timeframes, but these chart types often depict trends clearly and can make indicator-based trading simpler.

The indicator offers the ability to test indicators and experts within the tester and is compatible with the popular MetaTrader 4 platform. Parameters cover the candle size and multiplier and allow users to work with some settings for testing and other factors. The developer has included a video that guides traders through the process of installing the indicator and running tests.

Service Cost

Traders have two options cost-wise. The first option would be the buy the indicator outright for $30 USD, or to rent it for 6 months at half the price. Both prices are relatively low, so traders won’t have too much of a loss if this indicator turns out to be a dud. Still, you’ll wind up paying the overall cost after one year of renting, so buying may be a more frugal choice in the long run.

Conclusion

Although Renko Bars don’t show timeframes, some traders prefer these chart types because they can make price action and indicator-based trading easier. That being said, Renko Bars don’t exactly give you a competitive edge in the markets, but the trading strategy can be profitable if you learn to use the indicator effectively. Take a look at this user’s comment below.

“It is very profitable. I have backtested with my EA. I have found unbelievable results.” -Alessio

There aren’t many other comments that actually talk about results. This indicator was published back in 2018, but the demo has only been downloaded 175 times. There’s always going to risk involved with using indicators, so traders will need to decide if these particular risks are worth the potential rewards.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/27133

PipFinite Breakout EDGE is an indicator that was published in the mql5 marketplace on January 9th of 2019. The author Karlo Wilson Vendiola runs the PipFinite website and has published 12 products on the website thus far. The indicator was recently updated to version 3.0 to make some compatibility improvements.

Overview

This indicator was designed to operate on MT4 and claims to follow a step-by-step system that identifies the most powerful breakouts. The strategy is supposedly tested and proven to discover market patterns that can yield impressive rewards for traders. The creator outlines three easy steps for placing a trade:

• Enter a signal (the success rate must be equal to or more than 66%)
• Set stop loss
• Set take profit

The indicator then auto-detects entry, exit, stop loss, and take profit levels and auto-calculates statistics for each signal. It doesn’t repaint or recalculate. It works with all timeframes and symbols and is designed to be compatible with all Expert Advisors. The automatic calculations for statistics results are one of the highlights, as it provides more reliable data that gives out a success rate for the trade, thus giving traders the confidence they may need to follow through. The indicator also comes with a user manual and the developer has included step-by-step instructions and a YouTube tutorial video to help explain the setup process.

Service Cost

There are three separate pricing options for acquiring the indicator. Users can buy it outright for $98 USD, or rent it at a rate of $58 USD for 1 month or $88 USD for 1 year. The yearly cost of renting the indicator is only $10 less than buying, so we would recommend simply buying it if you think you’ll be using it for that long. The monthly price is rather high, but this indicator has received enough positive feedback to make it worth investing in. Note that there is a 5-time limit on the number of activations once the indicator is owned and exceeding that number would require traders to buy the software again.

Conclusion

PipFinite Breakout Edge has been on the receiving end of multiple 5-star reviews from users that have managed to turn a profit using it. Here are some examples of what consumers are saying:

“Very good indicator! Brought in profits” -disheng91

“I bought the indicator nearly one month ago. Great results, no lag, no repaint. Good job!” -yarixsegona

“This indicator is almost scarily good…I had my doubts and I wondered if this was another fake indicator with paid reviews…I was not paid for this review and I am telling you this indicator is the business! If you are skeptical like I was, just invest the monthly fee and give it a chance for one month and you will not regret it!” -mslightbourne

In fact, almost every user that commented on the thread wrote that they had good results, but some did mention that they used this indicator in combination with others. If you have a good trading strategy, then this indicator could help increase your profits greatly.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/33638

Lot Size Calculator and TPSL is an indicator that was created the equities and forex trader Han Hui Tan. It was launched in June of 2015 and most previous updated to version 1.3 the following month.

Overview

This indicator calculates order lot size, take profit price, and the stop-loss price. It has a couple of intended uses:

-Determines lot size that should be used when traders enter the money and pips they want to win.

-Automatically calculates the take profit and stop loss price when traders enter the open price plus however many pips they would like to add or subtract.

-The calculator was designed to be used on the MetaTrader 4 platform, which is the most common platform available. It can be used with multiple currency pairs but is most effective with USD based pairs.

-Traders can also choose from blue, white, green, or black color schemes.

Service Cost

The calculator can be purchased for just $10 USD. Being that it is a fairly simple indicator, we feel that this price is quite suitable. The author also offers free demo accounts for testing.

Conclusion

Lot Size Calculator and TPSL is a simple, yet effective calculator that determines lot size and take profit/stop-loss levels needed to earn a specified profit. It hasn’t received any ratings or comments, but this isn’t too worrisome, as the calculator should work effectively so long as one enters the correct details into each parameter.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/10258

Exclusive Bollinger is a trading indicator that was created by the multi-product author Evgeny Belyaev. The original version (3.0) was launched on the mql5 marketplace in July of 2017.

Overview

Exclusive Bollinger is based on the classic Bollinger Bands indicator, with some improvements. The method focuses on price and volatility, in order to identify entry and exit points, with one primary use being to identify overbought and oversold conditions. This method isn’t perfect, as it focuses on some information while ignoring other important factors that need to be considered for the trades. The developer of this indicator has made improvements to the signals so that false signals are minimized, and added in more flexible settings that make it possible to use the product with different trading strategies, especially scalping. Here are a few other key facts:

• Compatible with world’s favorite trading platform, MetaTrader 4
• EURGBP, GBPJPY, AUDNZD, EURCHF, and EURUSD
• Works on any financial instruments (Forex, CFD, binary options)
• Works on all timeframes
• Does not repaint
• Alarm notifications

Service Cost

A few separate pricing options are available:

• Rent for one month for $14 USD
• Rent for three months for $25 USD
• Purchase for $31.95 USD

Free demo accounts are also available.

Conclusion

Exclusive Bollinger makes some improvements to the classic Bollinger Bands trading strategy by minimizing false signals and adding in extra settings so that the indicator works with more trading strategies. Although this method isn’t the most reliable, other users have found great results using this product, with 5/5 users providing a 5-star rating. We found the following comments to be informative:

“It gives excellent signals; I will say at least 75% on the accurate side. I use it with Advance Stochastics to confirm. It’s excellent to pick top and bottoms! recommended!” -Rafael

“The most reliable scalping indicator I’ve come across.” -mxp1

According to these users, the product works as intended, but you may want to use an additional indicator, as recommended by the first reviewer. Exclusive Bollinger works best to identify overbought/oversold conditions, and scalping strategies work best with this indicator, although others will work as well. This indicator seems to be a good choice if it works with your trading style & strategy.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/24336

EuroSmart Pro is a trading indicator that is available on the mql5 website. As one of the most recently added products on the site, it was launched in January of 2020 and received its most previous update to version 1.22 in March of 2020. The indicator was created by professional trader Uci Sanusi.

Overview

EuroSmart Pro is a smart trend-detecting indicator with a filter that aims to eliminate false signals for more accurate results. This indicator is suitable for scalping, intraday trading, and swing trading strategies. Here are a few more key facts:

• Works on the widely used MetaTrader 4 platform
• Recommended pairs EURUSD and EURJPY
• Recommended timeframes M15, M30, H1, and H4
• Open buy, open sell, exit buy, exit sell indicated by different colors
• London market and US market trading sessions

Service Cost

The developer only allows traders to rent this indicator for $10 per month – it cannot be rented for a longer time or purchased at all. While this keeps the price low initially, traders will end up paying more than they would for a typical indicator by month 4 or 5. Perks include 20 total activations and free demo accounts.

Conclusion

EuroSmart Pro is best used for detecting trends with minimalized false signals with scalping, intraday trading, and swing trading strategies. Unfortunately, there are no ratings or reviews that tell us about other’s experiences using this product. It’s disappointing, as we were curious about how effectively the indicator performed at reducing false signals. When considering EuroSmart Pro, you’ll also want to remember that it doesn’t work with all strategies and that it is only recommended for use with a couple of pairs and certain timeframes. Another considerable fact is that is it cheap to get started, but the indicator cannot be purchased outright and will run traders $120 per year.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/45370

Pivot Points Pro is a trading indicator that was published on the mql5 marketplace in October of 2018. The author, Tsvetan Tsvetanov has never updated it from its original version.

Overview

This indicator is primarily based on the Pivot Points concept, which is centered around calculations that determine the overall trend of the market over different timeframes. This can help to give traders an idea of whether conditions are bullish or bearish and whether the price might experience support or resistance. In order to make this indicator more effective, the developer uses an improved formula that is based on volatility when calculating support & resistance levels, along with a multi-symbol scanner that can be used to detect the best conditions and to monitor a large number of symbols at once, and a built-in alert system that will allow traders to go about their daily lives without spending as much time staring at a computer screen. This indicator also allows traders to customize settings more accurately and to disable certain features that they may not like.

Service Cost

This indicator can be rented for $19 USD per month, or purchased with 6 activations for $49. Trading on the free demo account isn’t an effective way to test the indicator, as the author explains that the tester only works with one symbol at a time, making it impossible to switch between symbols or timeframes. However, she does provide a link to a limited free version of the product, which is limited to 5 symbols. The free version was created approximately one month after this product’s release, so it seems that the author released the limited version as an alternative to trading from the demo, rather than fixing the issues with the demo version.

Conclusion

This indicator uses tried and tested calculations to provide visual symbols that show traders when prices are reaching their daily highs and lows, making it a useful tool for predicting market trends and conditions. It hasn’t gained a lot of popularity. In fact, there isn’t a single review or comment, which is odd for a product that has been released for more than a year. When an indicator is good, it seems that traders flock to it, but good indicators can sometimes get lost within the sea of products that are available on the mql5 website.

If the lack of feedback makes you apprehensive, then it might be best to test the free limited version before renting or buying this indicator. If you do buy it, then we would recommend leaving the first comment so that others can read about your experience!

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/32731

Momentum Solo is a trading indicator that was published on the mql5 marketplace in June of 2015 by the author Claus Dietrich. It was last updated to version 19.51 in May of 2019.

Overview

Momentum Solo informs traders about momentum strength in the appropriate direction based on a minimum candle size and candle body in relation to the average true range, which measures market volatility. Described as a “simple momentum informer” by the author, the indicator comes with 5 different filters and allows users to set up different types of alerts.

Here are a few more facts:

• Works on the popular MetaTrader 4 platform
• Works with all instruments on timeframes M5 to D1
• Does not repaint, no cross-over signal, signal after close

The author also provides instructions for how to use the indicator, along with some helpful pointers about calculating risk-management, avoiding the market before high-impact news, and other tips.

https://youtu.be/a2VE6Q4kJQk

Service Cost

The indicator can be rented for $19 USD (one month) or purchased for $89 USD. To be fair, the purchase price is a little high for a simple indicator, and many others can be purchased for as little as $30. More than 1,000 traders have downloaded the demo version of this product, which would be a good idea before buying.

Conclusion

Momentum Solo informs traders of momentum strength and can be used with multiple timeframes and any instrument. It has received four 5-star ratings and a few positive reviews.

For example:

“Claus was very courteous, responsive, and professional after I informed him the alert function was not working properly.” -vtcpa04

“Great product and great seller, really helpful indicator.” -Pip Collecter

It’s a little worrisome to see that there was a technical problem with the alerts, but this has since been fixed in version 16.3 back in 2017. The product is a little pricey, but traders can still rent it at a lower rate. Like any other indicator, risk-management needs to be practiced, and we would recommend following the author’s advice to avoid trading before certain news hits the market and etc. for the best results.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/9564

Engulfing Bar Alert is an indicator that was published to the mql5 marketplace in October of 2018 by the author Snapdragon Systems. The current version is 1.1 and it has not received any updates since launch.

Overview

This indicator is used to mark and alert traders when Engulfing Bars form. The bars have a higher high and a lower low than previous bars. Engulfing Bars can be bullish or bearish and are used to catch potential reversals in the market, therefore having these alerts could make it easier to spot these trends without having to watch your computer screen all day. This indicator is compatible with MT4 and allows traders to choose from range engulfing, body engulfing, or both. Traders can also manage alert symbols and choose which symbol to plot to highlight an outside bar.

Service Cost

Traders will have the choice between buying this indicator for $30 USD or renting it at a rate of $10 per month. Traders can also test a demo version in order to get a better idea of whether this indicator is a good match for their trading style.

Conclusion

Engulfing Bar Alert is a good choice for traders who look for trends surrounding engulfing bars, which can catch possible reversals in the market. The indicator can be rented for as little as $10 per month and makes the trader’s job easier by eliminating the need to watch charts all day long. On the downside, the demo has been downloaded less than 100 times and it hasn’t received any comments or reviews from users. If this indicator fits with your strategy, you may want to try the demo first, or simply invest $10 into the one-month application.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31873

Chart Clipper is an indicator that was published to the mql5 marketplace by the ISO Financial Services developer Payam Khataei in March of 2014. The indicator was last updated to version 4.32 in 2019.

Overview

This indicator is a simple organizational tool that allows traders to effectively analyze multiple charts at once. While using Chart Clipper, traders can categorize open charts, access a large number of those charts, or quickly auto-switch between them. The indicator is compatible with MT4 and runs alongside EAs and alerting indicators on PC and tablets with no issues. There is an unlimited number of chart groups and traders can categorize the charts by symbol names, timeframes, or any combination based on their personal preferences.

Service Cost

The cost of this indicator is $32 USD and it comes with a few extra activations (8 in total), but there isn’t an option for renting. The price is fairly standard and users are given the opportunity to test this indicator using a free demo account before buying.

Conclusion

Chart Clipper is a helpful tool that allows traders to organize their charts and to efficiently switch between them. Users are generally very accepting of this indicator, which has acquired a four-star rating. Take a look at what these users are saying:

“You set up your charts the way you like it for a certain group, edit the bottom label and voila they are grouped together depending on the label you gave each chart!! You can then switch between these views immediately without setting anything else up as the indicator inserts the shortcuts automatically according to the name you labeled your groups. It is really that simple, amazing programming.” -SpeedBug

“On the laptop, it is absolutely essential. There is no other way to trade charts when you really need to look at each chart periodically. It is also easier to focus on the charts when you don’t try to look at 12 all at the same time.” -Michael

While we’re confident that this EA does its job well, the bottom line is whether this simple indicator is worth its $32 price. Sure, it’s helpful, but other indicators tend to show us trends and guide users in making effective trading decisions. If cluttered charts are driving you crazy, then the price could definitely be worth the investment.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/3768

Bermaui Deviation Percent is an indicator that was published on the mql5 marketplace in July of 2017 by the author Muhammad Elbermawi, who has amassed 19 total products in his portfolio. The indicator was last updated to version 6.0 in December of 2019.

Overview

The indicator was designed to measure volatility in a percentage (rather than points) in order to make it possible to compare volatility for the same security in different timeframes. It can also compare securities from different markets in terms of percentages. The concept is to create an index based on Classic Standard Deviation that moves between 0 and 100 percent. Traders can then use the given percentage to determine if prices may move in a ranging area, as well as the beginning of ascending or descending trends. The developer throws a free Bermaui Average EA in with the indicator and all programs are compatible with the most popular trading platform MetaTrader 4.

Service Cost

The author includes three separate pricing plans; traders can rent the product at a rate of $10 USD per month or $30 for 3 months, or buy the indicator for $60 with 1,000 activations. Prices are low enough for the first month that testing is possible without making a large investment and the sheer number of activations included with purchase guarantees that traders will have access to the indicator for a lifetime. The author also offers a free demo version, which has been downloaded nearly 2,000 times so far.

Conclusion

Bermaui Deviation Percent (or BD%) is an indicator that was created to eliminate the guesswork when it comes to identifying trends. The indicator has received a 5-star rating from users, along with 100+ combined reviews and comments.

This is what some traders are saying:

“Works really great! Now I can find the trade which is really trending!” -acidtrader81

“Very nice and effective indicator for identity range and trend market” -Hefajatur

“A really good indicator! Simplifies entry on trends and avoids choppy sideways movement.” -Han

The majority of reviews mentioned how effective this indicator is. Some traders use it in combination with others, especially with the free EA that is included with the purchase. The developer is very involved with traders and has managed to create an effective product for a low cost.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/24174

Indicator iPump is a trading indicator that was published to the mql5 marketplace in July of 2019 by the multi-product author Sergei Lanin. It was last updated to version 3.10 three months after being released.

Overview

This indicator works to find the trend using an algorithm that the author has found resourceful enough to use in more than one product. It combines certain advantages that we would see in a variety of indicators, including a multi-step trend detection indicator, a levels indicator that determines support & resistance levels, an oscillator indicator that defines overbought & oversold zones, and a market screener. You’d typically find these features in separate indicators, so the fact that they are combined here makes this option both convenient and money-saving.

The indicator doesn’t repaint, is accurate, and processes incoming price data by the second. Determination of resistance and support levels is another highlight, as the indicator will identify verified levels, turning levels, and weak or untested levels. It also works on the most popular trading platform, MetaTrader 4.

Service Cost

This indicator is for sale for $40 USD. The author has combined the benefits of multiple different types of indicators into this product, so this could be a cheaper route than purchasing three or four separate products. It would be helpful if the author would allow traders to rent at a lower price, but the demo version does make testing possible.

Conclusion

Indicator iPump essentially combines four separate types of indicators into one product for a portion of the price. Using a unique algorithm, it scans the market and provides traders with a better sense of which trades to place based on the trend, support & resistance, and other factors. Overall, this indicator has received a 4 ½ star rating from the community, along with some supportive comments.

For example:

“A good comprehensive pack which helps me a lot. Recommended.” -dor2020

“It’s a useful indicator where you can see the trend, resistance, and support and also if the pairs are oversold or overbought. Great!” -Marcello

“Great indicator – using with support and resistance trading and an EA. Good support, and addresses questions/comments quickly” -mcd55

Although the product can’t be rented, the general idea behind it and the fact that others have found it to be an effective tool seems to make it worthy of its $40 price. Of course, you’ll always want to use these types of tools wisely and possibly in combination with a good EA and a reputable broker that doesn’t charge a high spread.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/39895

Linear Regression Angle MT4 is an indicator that was created by the multi-product author Vladimir Komov. The product has remained at version 1.0 since its original launch date on February 8th in 2017 and is available on the mql5 website.

Overview

This indicator was designed to define trends at the moment they are created, in addition to defining weakening trends. Linear Regression MT4 calculates the value of the linear regression and displays it in the form of a histogram, creating an angle from the signal line and the angle offset from a certain number of bars. Analyzing the output is fairly simple: an angle value above zero indicates an uptrend, while anything below zero indicates a downtrend. The higher the value in whichever direction, the stronger the uptrend/downtrend will be.

Here are a few more of its features:

• Works with any instrument or timeframe on the MT4 platform
• Never repaints or recalculates
• 3 main uses; trend indication, identifying trend strength, following the trend

Service Cost

The developer offers the following pricing options:

• Rent for $10 USD for one month
• Rent for $15 USD for three months
• Purchase for $25 USD

We can’t really complain about those prices, especially since the author offers the ability to rent at a lower rate. Note that the product allows a standard maximum of 5 activations. Free demo accounts are also available for testing.

Conclusion

Linear Regression MT4 is indicating trends from the moment of creation and pinpoints weakening trends, making it a useful tool for identifying trends, the strength of any trend, or following trends. It is also a versatile product that works with any instrument or timeframe. On the downside, this product hasn’t received any ratings or feedback – we’re fairly confident that the author knows what he’s doing, as he has published multiple other products, but many of them also remain unrated. We’d recommend playing it safe and trying out the demo account first to check for consistent results.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/19846

AnyProfile MT4 is a trading indicator that is available on the mql5 marketplace. The author, Evgeny Shevtsov has a product portfolio that includes nearly 30 separate products on the website. This particular indicator was uploaded in January of 2016 and was last updated to version 3.1 almost 3 years later in 2019.

Overview

Anyprofile MT4 is a volume profile indicator that was designed to work with the most commonly supported trading platform, MetaTrader 4. The indicator was created to display market profiles of any duration in any place on the chart. Users can simply create a rectangle on the chart, which can be resized or moved and it will automatically be filled by the profile. Traders will be able to work with input parameters, control buttons, and input variables related to the quantity limit, timing refresh, and rectangle prefix, along with some display settings.

Service Cost

The developer limits purchase options to buy at the full price of $39 USD. It’s always a little disappointing when renting options aren’t available, as traders can typically rent software at a lower rate for testing, or as an alternative, if they aren’t prepared to pay the full cost. On the bright side, demo accounts are available to help make up for the lack of renting options.

Conclusion

This indicator is a simple, yet effective MT4 profiler that comes with a rich array of settings. As always, we were curious about the experience others had with this product. Here’s what some users are saying:

“Great product, reasonable price. One of the best investments I made on this site.” -Ayman

“This indicator is a must-have tool if you work professionally.” -marco85s

“This is without a doubt the best and most useful trading tool on the MetaTrader market. If you are serious about becoming a legit trader, learning how to apply this tool to your trading technique would be the smartest thing you could do.” -Joseph

These comments more than back up the indicator’s 5-star rating and make us less concerned about the price. Judging from the comments we found, this is a must-have tool for many traders. If you’re looking for a market profile, then this just might be the one for you.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/14244

Naked Forex Big Shadow is a trading indicator that has been available on the mql5 website since May of 2017. It was created by the IT engineer/FX trader and author of multiple products, Renaud Candel, and currently remains at version 1.0 as of April 2020.

Overview

Naked Forex Big Shadow is a pattern recognition indicator that works on the MT4 platform with Forex, Binary Options, Futures, Commodities, and Stocks on any timeframe. Using a strategy that is based on price action, the indicator is an improved and effective pattern of the engulfing candle. Parameters are fairly straightforward, covering only the distance and alert settings, which results in an easy to use the product for traders of all skill levels.

Service Cost

Traders can either rent the indicator for $17 USD per month or purchase it for $147 with 5 activations. The purchase price is a little high for this type of product, but renting should be a suitable option if you aren’t prepared to make a larger investment. The author also points out two other products that would work well with this one, both of which can be rented for lower prices or purchased from the $147 – $190 range. Free demo accounts are provided for all of these products, including the Naked Forex Big Shadow.

Conclusion

Naked Forex Big Shadow is a trading indicator that uses a price-action strategy in order to provide an enhanced pattern of the popular engulfing candle while working with all instruments and timeframes. Although more than 700 users have downloaded the demo version, the product hasn’t received a single review or comment, which is somewhat concerning considering its indicated popularity. The author Renaud Candel has published nearly 80 products on the mql5 website, however, so we don’t doubt his ability to create a useful product. Still, we would recommend renting this indicator first to be sure that it is effective before making the full $147 purchase.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/22785

PipsMinerFast is a trading indicator that was added to the mql5 marketplace in December of 2015 by the multi-product author Remi Passanello. It was most previously updated to version 1.5 on March 10th of 2020 to allow for more documented comments in alert messages.

Overview

PipsMinerFast is an indicator that primarily follows trends while also using price action in order to show traders trends immediately with minimum lagging. It works on all timeframes and manages to accommodate exotic pairs like GBPNZD on the MT4 platform. The author has promised to code a version for MT5 after 4 requests (we counted one so far). Through charts, the author details how the indicator outlines potential wins in pips, as well as potential losses.

The developer does not try not to make this indicator sound like a magic solution, but he does claim that the success rate is fairly high at a rate of around 90%. Note that the indicator is not repainting and it is adaptable when it comes to spread level, smoothing, etc. Although it is not among the requirements, working with a low-spread broker would be more beneficial to the trader.

Service Cost

It costs $120 USD to buy the program with 5 activations, otherwise, traders can rent it for one month at the reduced rate of $53. It’s nice to see that renting is an option, but the price for one month is rather high compared to the $10-20 range we often see with other indicators. If you want to test this indicator, it may be best to do so with a free demo account instead.

Conclusion

The author of this indicator provides a straightforward presentation of his product. It shows traders the trends in the market with no repainting and works with a variety of currencies and timeframes with a 90% success rate. We found users to be fairly happy with their results, so long as a good trading strategy is used in combination with the indicator.

There aren’t many reviews; however, the developer seems to be very in touch with clients through the comments section, and he is readily available to answer questions or consider requests. For the cost and amount of time that the product has been released, we would like to see more feedback, but everything points to this indicator being a helpful tool when used correctly.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/13184

Quantum Trend Volume is an indicator that was uploaded to the mql5 marketplace by Svyatoslav Kucher, who has published 30 different products altogether. The indicator was added in August of 2017 and most recently updated to version 1.30 in July of 2019. The last update focused on fixing some problems with the code.

Overview

The indicator uses an algorithm calculation that was created by the developer with the intention of recognizing trends within the market. Following the same pattern we’ve seen with many other indicators, it was designed to work with the most popular trading platform, MetaTrader 4, and it is compatible with all currency pairs and timeframes. Parameters are fairly straightforward and cover the main settings, including the Firstperiod, SecondPeriod, and Shift, along with multiple other settings that deal with alerts.

Service Cost

Traders are provided with two separate options for acquiring the program; renting at a rate of $20 USD per month, or purchasing with 5 activations for $65. Indicators typically go for around $30, but traders will still have the option to rent the program at a fair rate. Free demo accounts are also available for any users that would like to test them before buying/renting the software.

Conclusion

The Quantum Trend Volume indicator works to identify trends within the market, which is helpful regardless of what type of trading style(s) one might use. Being that this indicator bases its findings using a calculation method created by the developer, it’s generally a good idea to see if others have found it to be successful. We found the indicator to have a 5-star rating, but this is only based on 3 reviews and 5 comments. Being that there isn’t much feedback, our recommendation would be to test it using a demo account, or either to rent it for one month in order to make a more informed decision.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/24573

Universal Alert MT4 is a trading indicator that was launched within the mql5 marketplace in February of 2019 by developer Alfiya Fazylova. As of April 2020, it has not received any updates.

Overview

Universal Alert MT4 is a notification system that provides traders with seven different types of signal alerts from any custom indicator. The seven different types of signals include:

• IntersectionPrice
• IntersectionOscillator
• RepulsedPrice
• RepulsedOscillator
• Emergence
• CrossingLine

The above covers the intersection of oscillator/indicator lines from a specified level, price rebound from the indicator line, repulsion of the oscillator line from a specified level, and so on. When entering input parameters, it is crucial to follow the author’s rules, which are outlined in a chart in the product’s description.

Service Cost

Traders can either rent the product for $10 USD per month or purchase it for $30 USD. If you’re interested, a free demo version is also available for testing.

Conclusion

Universal Alert MT4 provides traders with several different types of signal alerts. The concept is pretty straightforward and the alert system should work correctly as long as the author’s input rules are followed. Unfortunately, this product hasn’t received any ratings or comments since it was launched, so we don’t have any feedback to review. Those that feel that this product would be convenient for providing alert notifications should take all of these things into consideration, along with the $10 – $30 price.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/35749

Tipu Trend is a trading indicator that was launched on the mql5 website in December of 2018. The author Kaleem Haider is a founder/CEO of Tipu Trading and last updated his product to version 1.40 in August of 2018.

Overview

Tipu Trend is a straightforward indicator that shows the trend of the selected timeframe on MT4. The blue line is indicative of the uptrend, while the red line indicates the downtrend, and the gray line is representative of the ranging market. The indicator does not repaint, smooths the noise in the price action, and highlights ranging markets. Best results are received in a trending market, and the author suggests using this indicator in combination with one or more products to receive the best results.

Service Cost

The indicator can be rented for $15 USD a month, or purchased outright with 10 activations for $59. A product extension, titled Tipu Panel, is available from the same author for free. The product shows the trend and signal of the selected timeframe with a customizable panel. While helpful, it isn’t necessary to download the free version if you aren’t interested. Free demo versions of both products are available for testing.

Conclusion

Tipu Trend shows the trend of the trader’s selected timeframe with a simple design that includes blue, red, and gray lines, along with visual buy signals. It has received a 4 ½ star rating on the mql5 website, with mostly positive reviews.

For example:

“Nice … used a lot of indicators this top!” -Cailu168

“Excellent Product top-notch indicator number one indicator on MQL5” -Mujeeb

“Not better than any other trend indicator… a simple moving average will do the same in good market conditions. Don’t waste your money.” -Davide

Traders should note that the purchase price of the indicator is a bit high for the type of product, especially considering that it needs to be used in combination with other products, which raise the total investment one needs to make. The product is fairly straightforward, but traders may want to compare the features and prices of similar products before making a decision.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/13356

RSI Alert Pro is a trading indicator that can be purchased from the mql5 marketplace. The developer, Crispin Scruby, is a founder of FX AlgoTrader who has published 13 products on the site. This particular product was launched in December of 2015 and last updated to version 2.1 in August of 2018.

Overview

RSI Alert Pro is advertised as being a highly configurable RSI indicator with rich alerts and monitoring features. RSI actually stands for “Relative Strength Index”, which is usually used to indicate temporarily overbought or oversold conditions in the market. Several of the parameters revolve around alert features, while some are concerned with the display width/style/levels.

Traders should be cautious when using any RSI-based indicator, as sudden price movements can cause it to spike up and down, resulting in false signals. Historically, this type of indicator is best used in combination with others because the price often extends beyond the indicated overbought or oversold zones. This indicator is compatible with MT4, so there should be no issue finding compatible indicators to use it with.

Service Cost

Traders will only have the option to buy this indicator outright for $30 USD with 5 activations. It isn’t possible to rent it for any amount of time, which is slightly inconvenient. This makes the free demo version the most economical way to test the product before purchasing.

Conclusion

RSI Alert Pro is a simple RSI Alert indicator that identifies overbought or oversold conditions in the market. We were concerned about some of the shortcomings of this type of indicator, so we headed over to the comments section to see what others were saying about this product.

We found the following review to be helpful:

“For all who work with RSI – this is a must. I work with this indicator and it informs me about changes in RSI. I let it run over many charts at the same time. Stay informed!” -Thomas

The only other comment was related to downloading the indicator, so we don’t get to see much helpful feedback about this product. Purchasing isn’t necessarily a bad idea since the indicator is priced fairly and free demo accounts are available. Our final recommendation would be to use this product in combination with another indicator that can help to make up for its potential shortcomings regarding false signals and prices extending over overbought/oversold zones.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/13591

PTS Precision Index Oscillator is a trading indicator that was added to the mql5 marketplace in February of 2016. The author, PrecisionTradingSystems, last updated the product to version 1.1 with some color changes about one week after the original release date.

Overview

The indicator’s purpose is to provide accurate signals by highlighting early warning signals, which are flagged when + or -3.4 is reached. It works with any product with price and volume on MT4. Signals give traders an idea of whether the next bar will reverse, resulting in small or large moves or occasional lack of movement. The indicator is based on several different mathematical equations that work together to predict where the turning point in trends is most likely to occur.

One of the key differences between this and other indicators/oscillators would be its ability to efficiently pinpoint exact tops and bottoms. The author is straightforward about the fact that this indicator does not guarantee profits – he states that exit stops and effective risk management skills are crucial for long-term success.

Service Cost

This author allows traders to rent the product at a rate of $45 USD per month, with the second option being to buy the program outright for $295 with 10 activations. Compared to other prices out there, this indicator is quite costly, as the price to rent this indicator is more than the overall price to buy many others. On the bright side, the author does offer a free demo account that has been downloaded by others more than 1,000 times.

Conclusion

This indicator works differently from others by pinpointing exact tops and bottoms while figuring out where trends will likely occur by using strategic mathematical formulas that measure price and volume movement in multiple timeframes. We’re always curious as to what others are saying about any given product, as traders can often avoid bad purchases based on other’s heartache.

Unfortunately, this indicator hasn’t received any reviews, and users typically use the comments section to ask the developer more technical questions. Good reviews tend to make us more confident when it comes to expensive trading tools such as this one, but traders should be able to follow the author’s advice in order to receive good results using this indicator by trading with a reputable broker, using exit stops, and practicing risk management.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/14300

Multi oscillator divergence is an indicator that was uploaded to the mql5 marketplace by Jan Flodin in July of 2017. The developer updated it to version 2.4 in February of 2020 to add custom alert text and to add the possibility to scan for early divergences.

Overview

The indicator detects bullish and bearish divergences that occur between the price and the frequency of a symbol. It uses an RSI (relativity strength index) filter to compare recent price gains against losses, thus making it possible to identify overbought/oversold conditions in the market. The indicator can detect divergences for the following: MACD, OsMA, Stochastics, RSI, CCI, RVI, Awesome, ATR, ADX, Composite index, OBV, MFI, and Momentum and limits traders to one oscillator/indicator at a time.

The indicator contains one buffer that can be used with the custom function in an EA, draws solid or dashed lines based on regular and hidden divergences, and sends alerts when a divergence has been detected. This indicator is compatible with MetaTrader 4 and the author has also published several other divergence-based tools (scanners, EAs, dashboard, etc.).

Service Cost

It costs $30 to buy the indicator with 10 activations, which is a fairly standard price with a good number of activations allowed. The author also provides the option to rent the indicator at $10 per month or to test it using a free demo account. Either option should give traders the ability to test the product before deciding whether to make a larger investment. Do keep in mind that the author has multiple other products that could be used in combination with this indicator, so costs might add up if you plan on using some of the other tools that are available.

Conclusion

The Multi oscillator indicator helps traders detect divergences and study price changes in the market, making it a useful tool for making informed decisions, especially in combination with other products that were developed by the seller. It has received a 5-star rating and is well-liked among the community of users that have tested it.

Here are a few comments we found:

“Light on resources and really powerful. Took 3 signals last night. One in a nice profit, the other 2 in a small one but profit as well. A very good addition to my Divergence scanner. I have tested a few so far and Jan’s indicator os by far the most complete and good one.” -4example

“Works just perfect for me. Taking trades only when RSI is above/below 70/30. The hit rate is very high when using it this way.” -bisten

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/24209

MA Crossover Arrows is a free trading indicator that was published on the mql5 website by Amit Goyal. The product was launched in July of 2017 and most recently updated to version 2.1 approximately one year later.

Overview

MA Crossover Arrows draws arrows on the chart when two moving averages crossover. It supports four types of moving averages: simple, exponential, smoothed, and linear weighted, along with several different price types. When a fast-moving average crossing above a slow-moving average, it is marked with a green up arrow, while it is marked with a red down arrow when it crosses below a slow-moving average (unless the colors are changed by the user). This indicator works on the MT4 platform and alerts traders through helpful email, popup, and/or mobile alerts.

Service Cost

As we mentioned earlier, this indicator is completely free, making it a great product for any trader that doesn’t have a lot to invest. Or, traders could use the indicator in combination with another product, as this author has launched a few more options for $99 – $199 USD.

Conclusion

MA Crossover Arrows is a free, simple trading indicator that alerts traders when two moving averages crossover. It has received a rather impressive 4 ½ star rating on the mql5 website, along with some positive comments:

“With new update, it’s perfect!” -nicgall

“Simple yet powerful. A++” -Joseph

“Very good indicator. Alerts are very helpful.” -Max

Any previous problems have been fixed and MA Crossover Arrows seems to be running efficiently. If you feel that this indicator could be helpful to you, then there is no reason not to take advantage of the free download.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/24331

Harmonic Master Scanner Pro is a trading indicator that was created by author Mahmoud Ragab and launched on the mql5 website in July of 2018. It has never been updated from its original version (1.0).

Overview

Harmonic Master Scanner Pro simultaneously scans timeframes from 5M to 1W searching for 17 harmonic patterns, including AB+CD, Gartley, Bat, Butterfly, Crab, Shark, Alternate Bat, Deep Crab, Cypher, Nen Star, and the anti-versions of each. Once a pattern is detected, the indicator would then alert the trader through email. The product is based on the original MT4 zigzag indicator and standard harmonic pattern elements, but it works best in combination with other strategies such as price action or divergence, because fake alerts are possible with pattern failure and redrawing of the “D” (entry point) may occur. Traders can change a few parameters that affect the scanner, with the possibility to stop the scan for certain timeframes or patterns, manage Fibonacci time zones, Zigzag inputs, and so on.

Service Cost

There are two options for acquiring the Harmonic Master Scanner Pro indicator:

• Rent for $50 USD per month
• Purchase for $250 USD

To be honest, the price is a little on the higher side, as some automatic trading robots are available for this price. The scanner doesn’t perform correctly during testing, so traders would need to use the product on a live account, according to the author. However, it is possible to build your own strategy using the backtest.

Conclusion

Harmonic Master Scanner Pro is a trading indicator that scans multiple timeframes for 17 different harmonic patterns. While the indicator covers a lot of ground (multiple patterns, timeframes, settings), we have a couple of concerns about the higher price and the weaker alerts, as the indicator only alerts traders through email. At $50 a month or $250 full price, we would also hope that the product would work effectively by itself, but traders will need to use other strategies/indicators to avoid repainting and false alerts.

Typically, we would check ratings, reviews, and comments to be more aware of whether the price is fitting, but this tool hasn’t received any feedback from users. Overall, this does seem to be a good scanner that does what it was designed for. Traders would simply need to be extra aware of email alerts and to be sure to use strategies like price action, divergence, etc. with it for the best results.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/29237

EZT Macd Pro is a trading indicator that was published to the mql5 marketplace by Tibor Rituper, who has a portfolio containing 13 products on the site. It was published in June or 2017 and last updated to version 1.10 approximately one year later in 2018.

Overview

The EZT Macd (Moving Average Convergence/Divergence) Pro indicator follows the trend and indicates the relationship between two moving averages of the price. We’ve listed a few of its key features below:

-Most effective in wide-swinging markets.
-Three of the most popular ways to use the indicator include crossovers, overbought/oversold conditions, and divergences.
-Works with different timeframes on the hit MetaTrader 4 platform.
-Includes multiple settings that can change alerts, display, divergence options.

Service Cost

It costs $69 USD to purchase this indicator, or traders can rent it for the low rate of $10 per month. There are also demo accounts and a free version of this product that uses EMA (Exponential Moving Average) for calculation, with the difference being that the paid version uses all four moving average types (simple, exponential, smooth, linear weighed) when making calculations. Divergence is another added feature that isn’t available in the free version.

Conclusion

The EZT Macd Pro combines some of the most popular features of other indicators into one by indicating crossovers, overbought/oversold conditions, and divergences. It is a trend-following indicator that is best used in wide-swinging financial markets. Popularity-wise, this product hasn’t received a lot of attention from the community, other than a single 5-star review. This shouldn’t necessarily be a deal-breaker since the author has published multiple products in the marketplace and seems to be a professional.

The availability of a free version of this indicator gives traders a more economical way to test the product, although it only costs $10 USD to rent the full version for a month. Should you decide to rent/buy the paid version, be sure to choose a good broker with a low spread for the best results.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/23233

Interceptor PRO Volume Extremes Indicator is a trading indicator that is available through the mql5 marketplace. It was published on December 4th of 2015 by Dominik Mandok, who last updated it the version 2.0 in September of 2016.

Overview

Interceptor Pro uses a single algorithm that is based on Accumulation/Distribution, On Balance Volume, Money Flow Index, and Relative Strength Index in order to accurately identify extremes of the price indicating retracements and reversals in the trend. It is compatible with the award-winning MetaTrader 4 platform (which is the most common trading terminal available) and uses the following parameters:

-Interceptor Depth: defines the range of normalization in the number of bars taken for Accumulation/Distribution and On Balance Volume.

-Total_Bars: sets the number of bars visible in the indicator window.

-A/D, OBV, MFI, and RSI: Allows traders to adjust the weight of each component. Traders can set to 0 to completely disable any parameter in order to analyze volume alone or etc.

-Money Flow Index & Relative Strength Index.

-Setting alerts (push-notifications, email alerts, etc.)

Traders can also customize colors within the indicator window. The developer throws out a few tips, for example, traders may want to change some of the default settings and follow certain suggested guidelines for specific strategies. If you’d like to know more about these recommendations, the author is willing to respond to messages in more detail.

Service Cost

This indicator can be purchased for $19 USD with 10 activations or rented at a rate of $15 per year. Traders receive a large number of activations for the price and shouldn’t be too hung up on the cost, as this indicator costs less than many others. If you don’t want to take any chances, you could test a demo account for free without making a purchase. The author is also willing to send out a free version that works with one currency pair for additional testing when this is requested through a private message.

Conclusion

Interceptor PRO Volume Extremes Indicator works based on an algorithm that implements a number of normalized indicators, thus identifying extremes of the price that would lead to reversals or retracements in the trend. The indicator hasn’t received a large number of reviews, but it has achieved a 5-star rating, along with a few comments. The developer appears to be highly responsive and helpful, which is always a good sign. His attitude and experience, coupled with the nature of the indicator and its low price make this a worthy investment option that can work wonders for those who understand the logic behind it.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/13202