In this post I will be reviewing the FX Candle Predictor forex trading tool which aims to predict in what direction the next candle will move and the developer claims that it does not repaint. The FX Candle Predictor is an indicator that runs on the popular MetaTrader 4 (MT4) trading platform and is therefore suitable for demo and real trading accounts with a forex broker that provides the MT4 platform as most do.
The FX Candle Predictor is suitable for beginner and advanced traders, with clear arrows displayed on your charts to show which direction the FX Candle Predictor indicator believes the next candle will move. You may trade the FX Candle Predictor indicator stand alone or in addition to your existing forex trading system to help filter trades.
FX Candle Predictor Features
The main FX Candle Predictor indicator feature is the arrow that it displays which tells you in which direction it anticipates the next candle will move. It seems to be based on looking for reversals after big market moves. It tends to display these arrows when there is a big candle in one direction which could sometimes mean the market will reverse after unless there is some major news.
I would personally trade the FX Candle Predictor indicator in the direction of the overall trend and look to use it to enter on pullbacks. I would also use higher time frames such as the h1 and above as signals tend to be clearer on these charts based on my experience whereas the major currency pairs like the EURUSD & GBPUSD tend to have the most liquidity and therefore can save on trading costs when using a good ECN forex broker.
The FX Candle Predictor indicator can give you alerts on multiple currency pairs and time frames all at once so you do not need to sit and stare at your charts all day and night!
FX Candle Predictor Summary
Overall, the FX Candle Predictor indicator looks for potential turning points in the markets and would porbably be best used when combined within additional technical, fundamental and price action analysis to further confirm the FX Candle Predictor signals rather than trading with it blindly.
You may want to make sure you that you use sensible money management so winning trades are greater than losing trades, perhaps maximise profits by locking in at break even and using a trailing stop to ride trends as much as possible.
Full support, detailed instructions, trade examples and a money back guarantee is included.