In this post I will be reviewing the Forex Third Altic Indicator which has been developed for the free to download MetaTrader 4 trading platform which is provided by nearly all forex brokers worldwide. The Forex Third Altic Indicator will give you potential entry signals into the market and can also be used for exiting at the right opportunity.
You may use the Forex Third Altic Indicator stand-alone or in conjunction with your own forex trading system and additional market analysis. It is very easy to use with color coded signals and thus suitable even for novice traders whilst the more advanced traders can add another weapon to their arsenal of forex trading indicators.
Forex Third Altic Indicator Review
The Forex Third Altic Indicator is a very accurate day trading indicator that will try and detect trade opportunities based solely on price action analysis. Now, price action analysis can determine what is happening in the market right now and not what happened in the past!
Furthermore, many forex traders do not have the time nor knowledge to learn about price action patterns and the effects they have on market movement, which is where the Forex Third Altic Indicator can be useful. It can be used in ranging markets for reversal trades and also for breakouts of these ranges.
The Forex Third Altic Indicator will give you alerts when there is a signal and it is very flexible, you can use it on any currency pair and time frame that you wish.
I would personally use it on the higher time frames such as the h1 charts and above to try and avoid noise from the lower time frames although it can be used for scalping trades if that is your preferred trading style. I would also stick to trading the major currency pairs such as the EURUSD & GBPUSD for the best trading conditions such as low spreads, whilst I would be using an ECN forex broker.
Forex Third Altic Indicator Summary
Overall, the Forex Third Altic Indicator is a basic forex trading indicator that can give trading signals. Of course, it is important to use good money management principles. I would want a reward greater than the risk so that one losing trade does not wipe away all profits.
Despite claiming to be a price action indicator is not clear exactly how it is analysing price action in the form of candlestick patterns but it does not specify patterns in that sense and there are other ways to analyse price action.
As mentioned above, you can use your own additional market analysis are use straight out of the box, just attach it to your charts and you are ready to go! You may want to start on a demo account to begin with until you get used to it. Instructions and a money back guarantee is included.