In this post I will be reviewing the Forex Analyser trading software. Forex Analyser is a complete forex trading toolkit that includes lots of tools for trading manually and fully automated. It can give you trading signal alerts via a pop-up window and sound, email and/or SMS push notifications. If you do not have the time to manually place the trades or you will not be around to do so, Forex Analyser can be set to place the trades for you when there is a signal based on your settings and money management. This is perhaps one of the most flexible and diverse forex trading tool that I have seen to date.
You can customise Forex Analyser to do many functions such as giving you alerts when your chosen trading system has a signal, fully automate your own trading system and money management. It is so easy to use with easy “true” or “false” switches and runs on the MetaTrader 4 trading platform.
You can choose what technical indicator conditions and candlestick patterns you get trading signals (or automated trading) from. Forex Analyser is like having all indicators and candlestick patterns in MetaTrader 4 with built in alerts, auto-trading and money management.
Forex Analyser Features
Forex Analyser has a very impressive 25 technical indicators and 10 candlestick patterns built in. You can choose to set the indicators and candlestick patterns to “true” or “false” to only receive signals that match your required criteria. All of the technical indicators inputs (periods, deviations, levels, etc) can be modified from the Forex Analyser inputs.
If you have an existing trading system or a trading system idea, you can set Forex Analyser to give you alerts and/or auto trade (with money management) when there is a trading signal from your system. As an example, if your trading system was to buy when price is above the 14 day moving average and the stochastic was below the oversold 20 level and trending upwards, you could set Forex Analyser to do this very easily.
Each of the 25 indicators built in has multiple different conditions (extreme, trend direction, etc) so the possibilities for trading systems is endless. You can even use the strategy tester in MetaTrader 4 to find optimal settings by testing various different technical analysis, candlestick patterns and money management settings.
Again, it is so simple to use, you just set indicators/candlestick patterns to “true” or “false” and Forex Analyser can monitor multiple charts and time frames for trading signals – for you to take manually or if you set auto trading to “true” then Forex Analyser will even handle the trading for you. The sky is the limit with this forex trading tool. If you have ever wanted a trading system automated then Forex Analyser would be a fantastic solution.
Forex Analyser Summary
Well, Forex Analyser is like having a thousand forex trading system combined into one. It’s so flexible and you can set it give you trading signal alerts (or auto trade) according to whatever your analysis is. It saves a ton of time as you do not need to chart watch and can even be away from our screen and get sound alerts, email alerts and/or SMS push notifications.
If you don’t want to manually place the trade it will even trade for you. It can place the stop loss, take profit, trailing stop, break even and all other money management aspects. It has other very useful additional filters such as trading hours, days, max spread/slippage and much more.
The candlestick pattern analysis is useful and this alone can give entry signals. Imagine combining your choice of indicators with candlestick patterns and having your own unique trading system – manually or fully automated. This is the main feature of Forex Analyser and it does it to perfection.
Also, if you have been visually back testing or forward testing a trading system, Forex Analyser can back test a huge combination of indicators/candlestick patterns/money management in minutes. I have run some optimizations on it and got a ton of very good results from many different combinations. You could then save these set files and use them with Forex Analyser.
Perhaps you filter your trades with an overbought/sold RSI level, Forex Analyser can alert you to this. Perhaps you wait for price to cross the 14 day moving average before entry, Forex Analyser can do this. Perhaps your system is more complex and has over 10 indicator conditions and a candlestick pattern for confirmation, Forex Analyser can do this. Really, it can do almost anything!
This is by far one of the most complete and flexible forex tools that I have used and can highly recommend it for a whole range of uses.