Today I’m looking at a new automated chart analysis tool that provides traders with effective signals, Forex Analyser. The software is built to automatically analyze “using technical indicators and price action patterns to assist you with your trading.” Traders are alerted by either a popup window, an email, or an SMS alert when a trading signal is available.
There is no address for the company, but traders can get support by emailing email@example.com. Forex all Forex trading system reviews and ratings go here.
Forex Analyser Review
The Forex Analyser software is built to provide traders with advanced functionality. The software can place and manage trades on your behalf like an automated robot, or you can place the trades on your own. I would expect the best way to utilize the system, is to receive the signals, analyze them yourself and then place the trades. If this software was truly ready to be a Forex EA, then there would likely be some sort of my FX book account available.
Type: Forex Indicator
Strategy: Technical and Price Action
The software provides a lot of flexibility to Forex traders. There are 25 technical indicators that can be used, and 10 candlestick patterns. This allows for traders to have a major impact on the Forex Analyser software. That being said, this software is likely better suited for more advanced traders as the strategy relies heavily on the trader to establish. They do provide a free optimization guide to help traders find the best settings for each pair and timeframe, but this will take some work and talent.
The more I read about how the software works, the more I feel that this is an interesting tool, but a tool built specifically for more advanced traders. I can’t repeat that sentiment enough.
That being said, the system is quite interesting. Traders are given the opportunity to set their stop loss, take profit and mix-and-match different indicators and candlestick patterns to come up with the strategy the can be very effective. Personally, I prefer systems that do this work for you, but if you have some extra time on your hands and you like to fiddle around, then this could very well be an opportunity for you.
At this point in time I’m going to provide a 3 star rating for the Forex Analyser. I believe that the developers behind this software have the right intentions, and are giving traders a real opportunity to shape a blank canvas. My only issue with the system, is the lack of trading results provided by the developers and the fact that a trading strategy isn’t set in stone. If you purchase this system you will have to develop a strategy on your own, so I repeat myself again, this software is suited for more advanced traders.
Please let me know what you think about the Forex indicator system, by leaving a comment below the article now. I appreciate the time you spend here with us at Forex Robot Nation, and hope that you come back again soon.