You can analyze the situation in the foreign exchange market different ways, but most of the questions are paid indicators on Forex, in particular, beginners are interested in how effective they are compared to free tools.
I will start today's review with a small remark. Reading the forums, I often see attacks on indicator sellers, saying that if the algorithm is so effective, why do developers try to get money for licenses when it will bring much more profit when used alone.
In fact, there is nothing wrong with selling indicators, since programmers spend time creating formulas and want to be rewarded for their work. To reproach them for this desire is bad manners, especially since many people use the proceeds not only for current expenses, but also to increase their working trading account.
This is about the motivation of sellers, and now consider the problem from the side of the buyer. The main problem that traders regularly face when using paid Forex algorithms is fraud.
The chart above is an example of what reports sellers can use to confirm the effectiveness of their indicators. If such arguments are used, such a figure can be safely sent to the “black list”, since financial market it is impossible to get a parabolic equity line.
No less common is the banal prepayment fraud, i. the user sees an ad on the network, speaks with the seller (he enters into trust), after which he transfers money to the specified details, but receives nothing in return.
To avoid such problems, I recommend buying paid Forex indicators either from reputable people (they often maintain several topics on independent forums, and some are even designed as individual entrepreneurs), or through a service provided by MetaQuotes (the developer of the MetaTrader platform). By following these simple rules, scammers can not be afraid.
Pros and Cons of Paid Forex Indicators
If a trader has firmly decided to buy an indicator, he gets the following benefits:
- There is a chance (however small) that the algorithm will actually be useful, i.e. will work on previously unknown principles (there is such a potential today);
- Developers who value reputation provide updates for free and quickly resolve problems;
- Very often, paid Forex algorithms do not recognize specific signals, but they greatly simplify the process of position management (this point concerns auxiliary information panels).
In principle, the list of pluses can be completed on this, since then continuous disadvantages of paid Forex indicators begin.
Firstly, most of them are modified classical instruments. For example, a programmer takes a regular CCI, adds some simple modifications to it (changes the display method to a histogram, attaches the RSI formula on top, etc.), selects a good historical period for screenshots, and voila - the product is up for sale.
Recognizing such a "pig in a poke" is not as difficult as it seems at first glance, since an unscrupulous seller is given out by the following behavioral patterns:
- He categorically refuses to work through the Market from MQL or other similar services (where it is possible to return the purchase), referring to high commissions, the need for registration, etc.;
- In the description of the expert, not a word is said about the formulas on which it is built (even if it is a “trade secret”, the seller is obliged to disclose the basic principles);
- The author of the algorithm makes a significant discount and uses expressions like “today only”, “offer is limited”, etc. (Agree, if a paid indicator on Forex is really so “cool”, is there any point in cutting off your revenue with ridiculous frames?).
Adjustment to the history of paid Forex indicators
The second disadvantage of "store" indicators is their over-optimization, i.e. the author creates several versions (one for each currency pair), after which he sells them separately.
This approach puts the speculator in a dependent position, because if the basic characteristics currency pair change (for example, the average daily volatility will double), he will have to wait until the programmer answers the request, corrects the shortcomings and sends the working version to the mail.
And the last minus stems from the specific foreign exchange market. If you think for a moment, what do we have? The retail segment of Forex began to develop actively 20 years ago. During this time, hundreds of different indicators have been created, while the initial data on which all formulas are based has not changed - it is still the price and volume.
A natural question arises - what is the probability that a certain programmer will create a super-efficient paid Forex indicator, which has no analogues in nature? I invite each reader to reflect on this topic on their own at their leisure and recommend studying the various tools that are in large numbers in, and which can be downloaded completely free of charge.
It is advisable to use new Forex indicators for market analysis for the simple reason that they take into account the specifics of price changes at the current moment, as well as for the future.
As you understand, any latest indicator Forex is more sensitive to even minor price impulses. And this, in turn, allows market participants recognize any trend movements, and at their very beginning, in order to either enter or exit trades when the profit potential is almost exhausted.
Therefore, we invite you to study overview of the latest algorithms, which are welcomed by traders, as well as in relation to which the developers plan to implement significant updates next year that improve their work.
New indicators used in Forex trading
We will not make positive or negative feedback, regarding any algorithm, but simply describe general principle their work. owning up-to-date information, each of you will individually be able to determine for himself which indicator is best suited for your trading style. Moreover, you can download these indicators for free here. So, let's begin.
New X-Lines indicator on Forex
The Forex X-Lines indicator makes it possible to automatically, with almost 100% accuracy, identify the true levels that reflect, and no matter which of financial instruments used by traders and within what timeframe.
The X-Lines indicator makes it possible to divide technical levels into links - strong and weak. Strong levels indicate that in the past, at a given price, a huge trading volume was completely worked out (absorption of transactions was completely completed). Weak (medium) levels will indicate that at a given price, their positions were not closed in full, i.е. there was an approximate working out of the established trading volumes.
The Vetter-Volume indicator, a relatively new trading robot for Forex trading
The latest Better-Volume indicator is one of the modern VSA tools that tracks changes in the market, as well as its dependence associated with price changes. To be more precise, three prices for each of the bars - minimum, maximum and closing.
Using this algorithm, you can easily analyze trading volumes for a certain time period. Traders, having such information, can easily determine whether an impulse wave has passed or developed.
Vetter-Volume indicator graphically draws a histogram with bars of various colors and lengths. We draw your attention to the fact that the longest bars correspond to the price reversal points, the height of which is much higher than the level outlined by the moving average of the indicator.
This algorithm can work equally well on any time interval.
Among other things, the colors of the bars also have a certain meaning, remembering which you can quickly and easily navigate the current market situation and make appropriate decisions. Better Volume applies the current tick volume along with the spread (candle range), comparing their values with the previous ones (the default setting is the last 20 candles).
Better Volume, a popular Forex indicator
Latest algorithm Real Tisk Volume
Using the RTV indicator, you can determine the average volume that falls on each of the ticks. Thus, one can understand whether the current price movement will be supported by the rise in incoming trading volumes or not.
With the help of RTV, traders can directly determine the density of trading and, in addition, see and build their trading strategies based on this. To work with this algorithm, it will be most effective to use a vector approach.
Market readiness for growth is determined by:
- high average volume (with not high RTV values) surrounded by bearish candles;
- true bullish candles.
THE BEST FOREX BROKERS, ACCORDING TO THE RUSSIAN RATING FOR 2019:
| | | | | |In turn, bearish market sentiment is indicated by:
- underestimated RTV and the presence of bullish candles;
- higher RTV with a true bearish candle.
These values will be relevant for those trends that are already well defined. Under other circumstances, an increase in RTV would indicate that the market is about to reverse. It should be noted that this indicator is suitable for daily use and shows pretty good results, but it requires certain skills and knowledge from traders.
The newest Forex indicator - Triggerlines
Simple, but undeniably effective, the latest tool technical analysis Triggerlines belongs to the type of trend indicators. The main purpose of this algorithm is to show the direction of the current trend, as well as a timely warning about its possible change to the opposite.
Triggerlines are based on the usual calculation of closing prices. Simply put, this algorithm consists of two moving averages that are shifted relative to each other by a certain amount. The intersection of these moving averages with each other serves as a signal that the trend will change. Such an intersection on the chart is accompanied by a color change in the indicator lines.
The rules of the strategy are pretty simple. A buy trade should be opened when the following conditions are met:
- both red indicator lines:
- slow triggerlines are below the fast ones;
- the price is located higher than the slow triggerlines.
This is how it looks on the chart:
For sale, the transaction is opened accordingly under the reverse conditions. Stops are not placed in this strategy.
This algorithm is a successful combination of 2 middle lines indicating the direction of the trend, detecting its break, as well as the end.
Forex - Trend Magic indicator, from the list of new Forex algorithms
Another newest Forex Trend Magic indicator, like the previous one, belongs to the trend class. On the chart, this algorithm is displayed as a broken line, which changes color when the trend direction changes. Designed by Trend Magic to identify protracted trends.
The signal for determining the moments of opening positions is the change in the color of the indicator line. For example, changing the color of the indicator line from blue to red is a possible signal to open a short position. The signal to open a long position is the change in the color of the line from red to blue, i.e. it's the other way around.
In addition, the signal for the transaction is the moment when the indicator line crosses with the price. Experienced traders recommend in such cases to wait for the candle to close below the line when selling and above the line when buying.
This indicator is best suited for those traders who are late in the formation of new trends, because this algorithm will not let you miss a trend change, because. the line formed along the graph changes color.
The newest AO-Modern indicator on Forex
The AO-Modern algorithm is a modified version of the well-known MACD indicator, which is displayed in a histogram, which is divided by a line. AO-Modern, unlike MACD, has no lines at all, but looks like a regular histogram, and moves along its own zero level.
The AO-Modern algorithm is universal, so it can be used both independently and in conjunction with other Forex indicators. It should be said right away that this indicator does not have any adjustable parameters at all, except for the parameters of the thickness and color of the columns.
Histogram crossing the zero level, considered an important signal. During a good trend movement, opening trades at the moment of such an intersection can bring you quite a high profit. Due to the fact that the bars of the indicator have two shades, it combines the features of both AO-Modern and MACD.
Please note that during lateral movement this algorithm can output , for this reason it is better to use it with indicators filtering signals.
Forex indicator i-Daniella. New, versatile robot
Another new indicator that allows you to work exclusively in the direction of the trend is i-Daniella. This indicator is a simple algorithm built on and using arrows on the chart to mark signals to sell or buy. In other words, with arrows, he indicates the desired direction of entry into the market.
The ATR indicator was taken as the basis for calculations for this algorithm. In the event of a drop in market volatility and then a sharp increase, i-Daniella gives a signal to open positions in exactly the direction the price is moving. There is a high probability that this movement will continue for some time. This approach makes it possible to enter trades at the very beginning of any of the trends.
All the new Forex indicators described above can be downloaded freely and freely on the global network, moreover, they have repeatedly confirmed their effectiveness and more than once have earned the recognition of a large number of professional traders.
One more piece of advice. If you decide to include any analytical device in your trading strategy, whether it be described above or another, study the principle of its operation in the most thorough way.
Paid indicators for Forex - what do we pay for?
Well, to be absolutely frank, I believe that all the indicators that we download from the Internet should be paid. The logic here is simple: someone has spent their time and knowledge and has the right to demand payment for it. This is simply normal, especially for the conditions of the capitalist world. However, I will not dissemble that I do not use free indicators. I use it, of course. Who makes them? Enthusiasts who enjoy creating new things, who are well versed in programming and technical analysis and do not try to make money on their indicators. But there are also those indicators that are very many years old, and simply no one claims their authorship. Someone posted - everyone downloads. You have probably noticed that the books of the classics of fiction can be downloaded for free, but you can’t get new items for free. The same picture is in Forex. I want to tell you that paid and high-quality are not the same thing. There are a lot of useful free trading indicators, and there are a lot of paid Forex indicators, which are not only useless, but also interfere with the work in the terminal with their glitches and system loading.
What free Forex indicators can you safely use?
- Trend indicators
- Volume indicators
- Momentum indicators
- Indicators reacting to market volatility
- Cyclic indicators
Within these five categories of trading indicators, you can find a lot of free offers of a decent level on the Internet. You will only need to download and install them in your trading terminal normally. Learn how the indicator works in order to understand what it signals to you and go ahead!
Why then pay if there are free indicators?
As I said, as a rule, most of the free indicators belong to the classics of technical analysis. But you understand that time does not stand still. New trends appear, the market changes, develops. There are new factors that shape exchange rates. In response to this, new ideas, trading systems, as well as trading advisors and indicators are being developed.
If you see that the indicator offered for money really represents something new in the market, if you read his theory, and it seemed to you reasoned and having a foundation, then you can buy and start testing.
Also, often paid Forex indicators are automated. If you need it, you can buy a robot-adviser for yourself (ask if this is contrary to your broker's agreement, otherwise they may be fined or blocked) - and let him take on some of the work. Otherwise, a paid Forex indicator will be just a waste of money. Why pay for something that you can get for free? Just because the indicator is paid, it does not get better. It is important to understand and understand what, in fact, they require money.
It is difficult to name the best Forex indicators, because a lot depends on the style of work of a particular trader. One will be able to profitably work with a pair of moving averages, the second one is more suitable for Stochastic, the third one will prefer Bill Williams indicators - there is no universal recipe.
The main difficulty for a beginner is to choose a Forex indicator that suits his style of work. All the abundance of algorithms is divided into several groups:
- oscillators - work in the absence of a trend;
- psychological indicators - give rather a general idea of the state of the market;
- custom - the most numerous category. This includes all those thousands of algorithms that traders create on their own, many of which are available absolutely free.
To choose, you need to clearly understand:
- for which market the selected indicator is suitable;
- the principle of its operation - what exactly it shows and how its values are calculated;
- how it is used at work.
You can download Forex indicators absolutely free of charge, and a description of the essence of their work will allow you to immediately understand exactly how they work. For each of the described algorithms, an analysis of the principle of operation, settings and recommendations for use is given. Most of the considered indicators belong to the category of custom ones, they can be used both during a trend and in flat market areas.
New Forex indicators are added regularly. It is physically impossible to describe all the new algorithms - they appear too quickly, many are worthless. Therefore, the emphasis is only on really interesting indicators.
TLB OC indicator v02
Any successful trader among the merits of his achievements will definitely name as the most important - the ability to work with levels. Correctly build them, understand how the price behaves when approaching the level and directly on it.
Chaos Signal indicator
The Chaos Signal indicator is a complex and completely independent tool that does not need any additions. With apparent chaos in the market, the latter obeys certain trends and rules. So, despite the apparent chaotic price movement, you can find weak links or market inefficiencies and go in the right direction.
ivar indicator
The iVAR indicator is a unique tool that allows a trader to visually filter out a market condition called a flat. Mathematical basis The indicator consists in determining the fractal structure of financial time series using the variation index, which allows using less data in calculations compared to the Hurst exponent. All this sounds quite threatening for a person who is far from mathematics, so that's the end of the scientific part.
Demarker indicator
The Demark indicator is very effective when a trader intends to improve the ratio of profitable and losing trades. The main advantage of such an oscillator is the ability to determine the direction of a trend movement or its change.
Vulkan Profit indicator
The Vulkan Profit indicator is an arrow indicator that gives signals from the intersections of moving averages according to the Sidus system. The moving averages themselves are not displayed on the chart, but if it is easier for you to believe the arrow signals when there are real MAs in front of your eyes, you can add them to the chart yourself.
Bollinger Squeeze indicator v9
The Bollinger Squeeze v9 indicator has nothing to do with another well-known instrument of the same name - Bollinger Bands. This is a mixture of five in one of several oscillators that can be changed by setting a single triggerType parameter.
Envelopes indicator
The Envelopes indicator is a pair of moving averages that form a channel. The indicator offset relative to the baseline is set in the settings, which allows you to adjust the channel width.
VPFx indicator
VPFx is a volume indicator that, in capable hands, can become the main strategy tool. However, it gives the best results in combination with other methods of technical analysis. VPFx is designed for use in MT4 and MT5 terminals, where there are no true volumes by default.
MBFX Timing Indicator
The author of MBFX Timing is Mustafa Belhayate from Morocco. He gained fame by winning the international tournament of traders held in 1999. The basis of the victory was an interesting channel indicator, which the developer named after himself. The effectiveness of this trading instrument made it very popular, moreover, it became part of a huge number of strategies for trading on binary options based on a trend reversal.
Forex Paradise indicator
Forex Paradise is an authoring indicator that allows you to make huge profits due to the high number of exact inputs. The developer claims 35-85% profit per month from the deposit, while the indicator provides more than 87% of profitable trades. According to the developer, the effectiveness of this trading tool has been proven in practice, and it is enough for a trader to follow the signal arrows to enter the market.
WPR VSMark indicator
The WPR VSmark indicator is based on the classic William's Percent Range or %R. In a single application, the indicator did not have much success, since its significant shortcomings did not allow determining a trend change in a flat movement. The intersection of the lines of the indicator chart in such cases provided only erroneous signals.
Second Chart indicator
Any trading strategy has an individual set of conditions and tools that allow you to perform technical and fundamental analysis, interpret signals and determine market entry and exit points.
