In this post I will be reviewing the Forex Pandorum Indicator which is a technical indicator that is used for manual trading in the ever popular MetaTrader 4 platform which you can download for free from most online forex brokers.
The Forex Pandorum Indicator can give you trading signals which you can take as they are or add your own additional chart analysis to further filter the signals.
Whilst the Forex Pandorum Indicator can be used by traders of all experience levels, it can be a good idea to practice trading on an MT4 demo account until you become consistent and confident enough to go live.
In order to use this forex system, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Forex Pandorum Indicator Strategy
The Forex Pandorum Indicator uses a combination of 3 different trading strategies to generate buy or sell signals that are clearly displayed on the charts and colour coded. This makes it very easy to use and suitable for a variety of different market conditions.
It can be used for scalping a few pips, day trading or holding longer term swing trading positions.
You can set the Forex Pandorum Indicator to send you signal alert via email, SMS or platform pop-ups. This is handy as it means you do not need to stare at the charts all day waiting for signals to appear and you can monitor multiple charts all at once.
The Forex Pandorum Indicator can be used on any forex currency pair and other assets such as stocks, commodities, cryptos, previous metals, oil, gas, etc. You can also use it on any time frame that suits you best, from the 1 minute through to the 1-month charts.
Depending on your trading style, Pandorum Trading Indicator can be quickly and easily set to suit your approach to trading. You can experiment with these preset trading styles: Safe, Medium, or Aggressive modes.
Forex Pandorum Indicator Summary
Whilst the Forex Pandorum Indicator has potential, it will require the user to implement good money management along with strict trading discipline.
I would personally only take trades with a positive risk to reward ratio so that my winning trades by far outweigh the losing trades.
I would also look to lock in price at break even and trail the position where possible.
This system is very flexible and user friendly, thus you can use it in a way that makes you feel confident and that fits within your individual trading goals.
The Forex Pandorum Indicator includes setup instructions, support and updates.
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.