In this post I will be reviewing the Forex Entry Points Pro Indicator which as the name eludes to, is a forex indicator that displays optional entry opportunities on your charts in the MetaTrader 4 (MT4) platform. It comes as a trading template along with built-in indicators that you can apply to your chosen chart symbols and timeframes. You can use the default settings or adjust them according to your own needs. I would certainly practice on a forex demo account to begin with and only use this manual forex strategy as supplementary indicators to my own market analysis.
Forex Entry Points Pro Indicator Strategy
The Forex Entry Points Pro Indicator system analyses the price behaviour on the chart every second and determines possible entry points based on the built-in algorithm, which is a combination of trend trading and price action. Whilst I think it can be good to trade in the direction of the overall trend as it gives you a chance to catch big moves, trying to catch the start of a trend can be difficult and even cause you to get whipsawed in and out of the market if you are not careful.
The Forex Entry Points Pro strategy can send you alerts when there is a signal so you don’t need to study charts all day and analyse the markets for potential setups. This means that you can simultaneously follow as many currency pairs and chart timeframes as you wish. When the Forex Entry Points Pro Indicator does find a trade setup according to the built-in trading strategy, you can then decide if you would like to enter the market or wait until the next signal comes along.
This may seem like a good solution for anyone who does not have any experience trading online and does not have the time to learn how to do so effectively. However, this does not mean that all of the signals are going to good signals. I think you the Forex Entry Points Pro Indicator will work much better when it is combined with additional technical analysis, fundamental analysis and price action analysis. I would not take any trade without my own confirmation.
You also need to think about your forex money management. Granted, you could always use the Forex Entry Points Pro Indicator signals for both entry and exit, but this may not align with your preferred risk to reward ratio. You can set your own stop loss and take profit levels to maintain better control over your trading. I would only look to take those trades that have a favourable risk to reward ratio where one bad trade does not cancel out a run of winners. I would also look at using a trailing stop loss to try and maximise each move and lock good trades in at break-even point.
On the positive side, the Forex Entry Points Pro Indicator is very flexible as you can use it on any financial instrument that you prefer, including forex, cryptocurrency, stocks, indices, metals, energies and other commodities. You can apply it to any timeframe whether you want to scalp the markets, day trade or swing trade.
The developer does states that this forex indicator works best on the 15-minute charts and above. I find that the 1-hour charts and higher can be slightly better in my opinion, simply because I feel like they do a better job of helping to filter out some of the noise from the lower chart timeframes.
The Forex Entry Points Pro strategy does not repaint. If a signal appears and is confirmed (if the signal candle is closed), it does not disappear after the fact, unlike indicators with redrawing, which can show a signal and then remove it. These types of forex strategies can often look good over historical data but the real time signals may have been completely different.
Forex Entry Points Pro Indicator Features
- Entry signals without repainting or delays
- Error-free opening of trades
- Entry Points Pro works with any asset
- Provides signals for any direction with a trend filter
- Detailed statistics and analytics
- Doesn’t affect the functioning of the terminal
- Any chart timeframe can be used
- Multi-language support
- Visual and sound alerts, push messages to your phone
- For experts and beginners with detailed instructions included
Forex Entry Points Pro Indicator Summary
Overall, I think that the Forex Entry Points Pro Indicator can form a versatile and easy to use trading strategy, but it does require the user to have some experience. This is because I think there will be too many false signals without first conducting some additional market analysis to filter trades accordingly. Then, you will need to have a solid forex trading plan in place and keep control of your forex trader discipline and psychology.
In order to use the Forex Entry Points Pro Indicator, you will need a trading account with a forex broker. With so many forex brokers to choose from nowadays, it can seem very difficult to find a suitable option. If you are new to forex trading online and looking for some ideas, please feel free to browse my best forex brokers for some inspiration along the way.
IC Markets are my top choice of forex broker for manual and automated trading strategies. This is because I find them to have tight spreads, low commission fees and plenty of liquidity which means that you can get your trades executed at some of the best forex market prices at all times. From my experience, they also provide excellent 24/7 customer support and have a good variety of convenient account funding options for you to choose from.
Overall, I do see some potential with the Forex Entry Points Pro Indicator but it does not seem that different to something that you could build yourself by using the default trading indicators that are included free of charge within the MT4 platform. If you want to have everything already packaged nicely for you with clear colour coded signals, then it might be worth a try on a risk-free demo account at first, to see how things go before making any commitment.
There are plenty of trade examples and a video showing the Forex Entry Points Pro Strategy in action, which you can see by visiting the website using the link below. It also includes instructions and free updates along with full support.
Forex Entry Points Pro Indicator
$47
Pros
- Clear Buy/Sell Signals
- Signal Alert Notifications
- Combination of Market Analysis
- Versatile Trading System
- Easy To Use
- Any Trading Instrument
- Any Chart Time Frame
- Any Forex Broker
- Detailed Instructions
- Full Support
Cons
- MetaTrader 4 Only
- Basic Trading Strategy
- Takes Time To Learn How To Use
- Requires Some User Initiative
- No Verified Results
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
