Indicator Review: FX Candle Predictor

FX Candle Predictor is a Forex indicator built to correctly navigate the direction of the next immediate candle. The developers believe that their system is the most accurate Forex trading product on the marketplace, which makes for easy profits regardless of experience or skill level. The package also comes with an expert advisor, so that traders can utilize the software on an automated basis. It’s surprising that this is their main product, but it does come for free in addition to the indicator.

The vendor provides no information about who they are, where they are located or what type of trading history Forex marketplace. Our additional research via WHOIS shows that the creator of this system is also the owner of Forex Reversal, Forex 4 Capital, forexebook.net, and the Forex Lasers forum. Hopefully, they amend the website and provide some information about themselves, because it certainly helps in building more trust. In order to get in touch with support, traders can fill out a contact form at the bottom of their sales page.

FX Candle Predictor Review

According to the creators, the FX Candle Predictor utilizes a “unique blend of technical analysis and proprietary algorithm is what is arguably the best software for predicting the next candles direction.” They feel that their software gives traders a statistical edge, and advantage that other traders simply don’t have without the indicator.

The team focuses on 3 aspects that sets their system apart, and puts it in the class of best Forex indicators. Firstly, is the software is use of the M5 timeframe. The software will provide buy / sell signals for the duration of the candle, which makes the system perfect for a quick 5 minute scalp trades. This would also be a beneficial approach for binary options traders that want to trade the 5 minute expiry time exclusively. Secondly, is their “power precision,” a unique algorithm built to analyze various currencies simultaneously and provide accurate data. This information isn’t exactly detailed. Lastly, is the ability for the software to provide mobile alerts so clients can trade directly via their phone or tablet at any point in time.

Accessibility is always important, but considering these are quick 5 minute trades, it’s our belief that they should be utilized on a PC for best results. The reason for this, is because it is very difficult to trade with the immediacy required to be successful on a mobile device. The same goes for our recent reviews of Forex Gump and Forex Magic Scalper.

Indicator Analysis

• Type: Forex Indicator
• Price: $599 + $19 yearly
• Strategy: Technical Analysis
• Timeframe: M5
• Pairs: EURUSD, USDCHF, GBPUSD, USDJPY, EURJPY, EURAUD, CADJPY, NZDUSD, AUDNZD, AUDJPY, NZDJPY, GBPJPY, USDCAD, AUDUSD, EURGBP, EURCHF, GBPCHF, GBPAUD, EURCAD, CHFJPY, AUDCAD, EURNZD, NZDCHF, NZDCAD, AUDCHF, GBPCAD, CADCHF, and GBPNZD

The FX Candle Predictor pricing model is quite strange, and unlike most Forex indicators we’ve reviewed. It costs $599 for the first year, and then $19 additional each following year if you continue to utilize the software. As far as indicators go, this is the most expensive we’ve ever come across. Generally, indicators go in the $99-$130 range, which makes this software 5 times more expensive than it should be.

The vendor also provides the tree expert advisor, but considering this exorbitant price, it’s hard to label it as free.

Trading Results

The benefit of having a Forex expert advisor as part of the FX Candle Predictor package, is that they can fully test the strategy and provide us with verified trading results. With product priced at $600, we expect verified trading results. Sadly, the vendor does not provide verified trading results, but only a strategy tester report covering the period of 2016.02.01 – 2018.03.15, which means that even the back test is a year behind.

The vendor could easily take their expert advisor, place it on a demo account, and have these results updated to Myfxbook in less than 5 minutes. The fact that they have done so is suspicious, and leads us to believe that the software isn’t as profitable as they are making it out to be.

The creators of the software desperately need to make these adjustments and provide trading results, because there is no excuse not to.

Conclusion

Well there are certain professional aspects of the FX Candle Predictor website that you appreciate, overall it is not ready for a recommendation. The price is too high for a Forex indicator service that doesn’t have any verified results. It’s just too difficult to spend $600 on something, when the vendor has proven that is actually profitable.

If you have anything you would like to add to the review, please leave your comments below the article now.