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.
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 Pandorum Trading Indicator has multiple built-in alert systems that promptly notify you of new trading opportunities within seconds. Each alert gives you the Entry Price, Currency Pair, and the Timeframe the signal was generated on.
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.
It was designed to bring more ease and simplicity to your trading activity. The advanced trading technology makes it even smarter and faster, yet so easy to use. You won’t have any need to calculate or analyze the forex market again because the indicator will do all of that for you.
Not only the trades themselves are important, but the timing. If there’s a trade opportunity and you miss it, then how can you make money, right? To ensure this never happens, Pandorum Trading Indicator will alert you of every new signal in 3 different ways.
How to use the Forex Pandorum Indicator?
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. You just open up your charts in the platform and attach the Forex Pandorum Indicator to them. It will then analyse the markets and send you signal alerts when it finds a signal.
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.
Forex Pandorum Indicator Summary
The Forex Pandorum Indicator can give you trading signals you can take as they are or add your additional chart analysis to filter the signals further, which is recommended. While traders of all experience levels can use the Forex Pandorum Indicator, it can be beneficial to practice trading on an MT4 demo account until you become consistent and confident enough to go live.
You can set the Forex Pandorum Indicator to send you a signal alert via email, SMS, or platform pop-ups. This is helpful 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, precious 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.
Overall, whilst I think that 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. You would not want one losing trade to cancel out a run of consecutive winners.
I would also look to lock in price at break even and trail the position where possible. This would help me to try and maximise the most of each good move that I get into.
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.
Overall, this is a basic forex indicator, and I do not think it is much different from a trading strategy template that you could build yourself in the MetaTrader platform by simply using the default technical indicators and drawing objects that are included within the platform free of charge. If you want to learn more and get the Forex Pandorum Indicator download you can visit the website using the link below.
Forex Pandorum Indicator
$37
Pros
- Manual Trading System
- 3 Trading Strategies Combined
- Signal Alerts
- MetaTrader 4
- Any Chart Time Frame
- Any Trading Instrument
- Full Support
- Free Updates
- Detailed Instructions
Cons
- Quite Basic Forex Strategy
- Takes Time To Learn How To Use
- Requires Some User Initiative
- MetaTrader 4 Platform Only
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.
