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
