True Points PRO can currently be found on the MQL5 marketplace under the Indictors section. It was created by Evgenii Aksenov and was first uploaded to the marketplace on the 21st of October 2019, it had its most recent update on the 13th of March 2020 and is currently on version 2.7 of the indicator.
True Points PRO can be used with the MetaTrader 4 trading platform, its main purpose is to determine the true pivot points of the markets. The indicator comes with built-in take-profit levels and will display profit information for the signals.
The indicator is usable with all currency pairs and different assets including indices, crypto, commodities, and more.
The main parameters of the indicator:
- Amplitude – affects the frequency of signals it is recommended to use 150
- Calculation period (bars) – calculation period of the indicator on the history
- Open/Close value level – the main parameter of the indicator to determine the frequency of signals
- TakeProfit #1- profit level by a given value
- Use TakeProfit #2 – a flag to switch on/off TP2
- StopLoss -sets the loss level for TP1 and TP2
- Multiple orders (Max number) – sets the max number of orders in a series
- Step signal bars (to the next signal) -parameter to steps between entering points (triggers) “no closer than”
The indicator can currently be purchased for $75 which will give you limitation free access to it and it can be activated up to 5 times. Unlike many indicators on the MQL5 marketplace, there is no option to rent the indicator, the only option is the one-off payment.
There is a free demo version stated on the site, however, the details of it are not given so we are not entirely sure what the limitations are. It may only be used within the strategy tester.
There are 22 reviews for True Points PRO, these reviews have given the indicator an overall rating of 4.5 out of 5.
“I have been testing this since early versions and I have to say the entries are great. Especially in higher timeframes H1+. Works very well and now without repainting.” – A 5-star review.
“Terrible indicator, gives a bunch of wrong signals, trust me I tested many indicators and this one is out of scope, looks nice on a chart, the author not providing any help, don’t respond to messages…stay away.” – A 1-star review.
“This is the very first indicator I’ve ever bought. It’s a great indicator and very profitable! Pair this with True Points Histogram for even better entries and exits!” – A 5-star review.
The majority of the reviews are every positive showing that the indicator is doing what it is meant to do, the main negative reviews are stating that the signals provided did not go the right way, no indicator or expert advisor will be right 100% of the time. In terms of comments, the developer of the indicator has been replying to the majority of the comments, showing that they are still supporting both the indicator and the customers.
While things are looking quite positive, we would still recommend that you download and try out the free version just to make sure that it is right for you before you make a purchase.