Forex Imperial is a combination of trading indicators put together into a chart template for manual trading forex and other markets within the MetaTrader 4 desktop platform. If you haven’t already got the MT4 platform, you can download it from most forex brokers and open a demo trading account free of charge. With so many commercial forex trading systems to choose from, it can be quite a difficult task to sort the good from the bad. Here we are going to take a look at exactly what the Forex Imperial system has to offer, which will hopefully help you to decide if it is something you would consider implementing as part of your day trading strategy.
What is Forex Imperial?
As we touched upon in the intro, Forex Imperial is a manual forex trading system that has been designed specifically for the MT4 platform. It is programmed to incorporate technical indicators for the analysis of the charts that it is running on. This is all done behind the scenes using a unique algorithm which aims to detect the trend. All of the required information is conveniently displayed on the charts in a user-friendly dashboard.
The developer states that Forex Imperial does not repaint. Why is this important? If a forex indicator is repainting, this means that it can change AFTER a bar has closed. Repainting indicators can often look fantastic in hindsight, but may have looked completely different in real time. This is because they can adjust to historical data. If in indicator does not repaint, it should not change signal once a bar has closed. When a Forex Imperial signal is generated, it stays there, so there should not be any nasty surprises after.
How does Forex Imperial work?
You simply attach Forex Imperials to the charts of the currency pairs and timeframes that you wish to trade. It will then scan the markets and display buy or sell signals in a trading dashboard on your chart. Forex Imperial shows the following information according to its own analysis:
- Trend direction
- Trend power
- Current signal
- Stop loss level
- Take profit level
Of course, all of the Forex Imperial signals are optional, I would only use them as a rough guide and make sure that I conduct my own additional market analysis to confirm all trading signals that it generates. I am not a huge fan of taking trades without actually knowing the reason behind it, just because a preprogramed system says to do so.
You don’t have to stay up late or wake up early to sit at your computer and watch the market like a hawk – the Forex Imperial built-in alert system can warn you when there is a possible trading signal. Once you hear the alert, you can then analyse the situation and decide if you wish to trade or wait for the next opportunity.
In addition to platform alerts, you can set the Forex Imperial signals to be sent via email and SMS. If you have the MT4 trading app, this means you could place and manage traders whilst on the go, from within the palm of your hands.
The developer mentions that Forex Imperial can be used on the M15, M30, H1 and H4 timeframes. In theory, you could actually use it on any timeframe that you prefer. Whether you are a forex scalper, day trader or swing trader, the Forex Imperial system is versatile. It can suit different trading styles and goals.
I would personally consider using the Forex Imperial System on the 1-hour charts and above, I just find that this helps avoid some of the noise that can occur on the lower chart timeframes. It also means less chart watching which is good for the eyes and back!
In addition to multiple timeframes, Forex Imperial can be used on any forex currency pair. You could actually use it on other financial markets if you wish, such as cryptocurrencies, stocks, commodities, indices, precious metals, etc. I would be looking at major currency pairs such as the EUR/USD, primarily because they can have a lot of liquidity which means there can be some good moves.
Furthermore, I find that ECN forex brokers provide some of the best trading conditions. As they do not use a dealing desk and can pool together liquidity from different liquidity providers, they often have some of the lowest spreads and reliable execution speeds. If they also have lower commission, this would also help to save on trading costs in the long term.
Forex Imperial Manager
When a Forex Imperial buy and sell signal is generated, the Forex Imperial Manager window pops up in a lower right corner of the chart. It contains all the necessary information about the trade. You just need to choose whether you want it to exit the trade at the opposite signal or when the take profit level is reached, and click one button. From there, the Forex Imperial Manager will enter the trade for you with all the necessary settings.
The Forex Imperial Manager can exit your trade automatically as soon as Forex Imperial algorithm tells it to do so – just make sure you that set the money management according to your own needs as every trader is different. You can also manually manage trades if you prefer. Be aware that trading is risky, there can be absolutely no guarantees on how well the Forex Imperial Signals or any other forex signal provider will perform.
Forex Imperial Features
By now, you should have a clear indication of what Forex Imperial is and how it works. Here we will take a quick look at some of the software’s key features:
- High Frequency of Signals
- Manual trading system
- User-friendly trading dashboard
- Any forex currency pairs
- Any chart timeframe
- Any MT4 compatible forex broker
- Email, Platform & Push Notifications
- Step by step User Guide included
- 1 Demo & 1 Real Licenses
- Forex Imperial Manager
- Full 24/7 Technical Support
- Free updates
- 14-Days Money-Back Guarantee
Forex Imperial Packages
There are 2 Forex Imperial packages that you can choose from, one with the Forex Imperial Manager, the other without:
- BUY/SELL Signals
- Trend Detection
- Notification System
- 24/7 support
- $95 for 3-months
- $179 for lifetime
Forex Imperial & Forex Imperial Manager
- BUY/SELL Signals
- Trend Detection
- Notification System
- 24/7 support
- Entering with 1 Click
- Automatic Exit
- $159 for 3-months
- $298 for lifetime
Forex Imperial Conclusion
Putting this Forex Imperial Review together, I do see some potential if this particular forex strategy is used correctly. However, it will require some trading skills and knowledge from the user in my humble opinion. I wouldn’t want to take the signals as they are without first confirming them with other technical analysis, fundamental analysis, sentiment analysis and price action analysis.
That being said, you can use it straight out of the box if you wish. Perhaps on a demo account to begin with until you become familiar with how the Forex Imperial System works and decide if it is something you find useful. It can even be used just as an additional filter to your own trading system.
Forex Imperial is very flexible, with the possibility to use it on any instrument, timeframe and MT4 broker. The Forex Imperial Manager is useful for quick trade placement and predefined money management. The signal alert functions are great as we can set it to automatically scan as many charts as we wish for signals at any time, without actually needing to be at our workspace.
The signals dashboard is clear and concise, making it quick and easy for traders of all experience levels to interpret the Forex Imperial Signals.
If you feel like Forex Imperial is a forex strategy that you would like to discover more about, please feel free to visit the official website using the link below. Just keep in mind, there is no holy grail and no system will give 100% winning signals. If you find such as system, please let me know!