TickUnit Scalper Currency Strength28 PRO is a new indicator type on the scene popular with the scalper trading strategies. It is designed for the MetaTrader 4 and published on 5th July 2019. Since then it has received frequent updates with very good additions such as to save tick data for faster recovery. The developer of this combo indicator is Bernhard Schweigert from Morroco and he has 12 products offered on the MQL5 repository, most of them are popular and have very high ratings from the users. He made a currency correlation/strength indicator using Tick-Units data on 28 currency pairs, or all of the major currency combinations. It belongs to the paid category and could be regarded as a complete trading system.
TickUnit Scalper Currency Strength28 PRO is a combination of Advanced Currency Strength 28 and Advanced Currency IMPULSE with ALERT, both of them, of course, is the developer’s separate product. Currency Strenght can be used on 11 different tick units, 1, 2, 3, 4, 5, 6, 10, 12, 15, 20, and 30 seconds. You will have the convenience to have a single chart for all 28 pairs trading under the subwindow. Now, since the indicator is used on the lower than M1 timeframe, up to 30 seconds, it is not the standard MT4 indicator. Advanced Currency Strength28 Indicator is used for the standard MT4 timeframes and is a separate product. Tick Unit Scalper Currency Strength28 is presented as the first tick unit indicator on lower timeframes than M1. As such, fas broker conditions are a must, also the spreads must be raw. A user manual is made and linked in the ‘Overview’ page. It is detailed with gif visuals, although not very clear, traders that have a bit of trading and MT4 knowledge will understand how to use this special indicator.
The feature list is interesting but now everyone will see the value-added just by reading the description. One would need to try the indicator first. Sensitivity modes will adapt to the trading style, be it super frequent or slow and steady. Alerts are possible for extreme values in the Currency Strenght meter so you will know when a very good opportunity arises. Each currency has special dynamics, so the indicator already has pre-set parameters for each, thus making optimal signals. Dynamic Fibonacci levels are used for the Price Action zones as part of the proprietary code for this indicator, and according to the signal is generated. The zones represent areas of Resistance and Supply and are recommended to add on, it Is another indicator.
A signal is very easy to follow, it will be shown in the window and with one click a chart will open the currency pair. Even though the pictures show the Take Profit levels, it is not very clear if they are calculated by the indicator or if they are just fixed values. Trades should know when to trade, the momentum will show when the market is flat and no currency stands out as the weak or strong. Also, the traders should avoid main fundamental analysis events or factors that could affect the market. This is common for most scalper strategies. This said testing is valid only if manually done.
The settings are very detailed, you can change the Alert parameters, set the sensitivity and timeframe, visuals change, and more. Bernhard Schweigert also packed the templates and profiles for the MT4 and also has a blog with many useful updates, news, and tips.
TickUnit Scalper Currency Strength28 PRO is not available to buy, only to rent for 3 months or 1 year. 3-month rent has a price tag of $98 and 1 year $148. A demo is available. The reason for this kind of charging is probably because of good ratings and sustainability for the developer in the long term. Scalping is very popular and this indicator is unique and not hard to use. The logic behind the strategy is sound but may use some popular techniques such as Fibonacci levels.
There are only 5 reviews for this indicator and sums up a rating of 3.8 stars. This is not enough to have a verdict. Some of the useful user reviews are:
“Very good indicator and signals, but one has to still do some more analysis to filter good and bad signals.”
“THIS INDICATOR WORKS AND I RECOMMEND IT. IT HAS MADE ME MONEY. AS I ALREADY SEEN ITS PERFORMANCE ON THE MOST POPULAR CURRENCY PAIRS…As with the other of Bernhardt’s indicators, this is a good one!”
Traders that have seen the indicator in cation with the demo can easily learn to use it and test it. Since the author has already made the templates and profiles, you should have a ready-made best settings for each currency. The rent price is small to pay if this indicator matches your fast-paced scalping trading philosophy, as it is specialized for these traders only. Whatsmore, using faster than the M1 trading period will require very high focus and stress that most beginners will have difficulty handling.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/39366