In this post I will review the Happy Indicators Pro indicator package by the team over at Happy Forex. They have developed a selection of forex robots and this is the first set of manual trading tools I have seen from them. Other forex software from Happy Forex I have reviewed include Happy Frequency EA, Happy Breakout EA, Happy Neuron, Happy Market Hours, Happy Fast Money, Happy Algorithm Pro, Happy News, Happy Trend, Happy Gold, Happy Power, Happy Japanese Market, Happy Galaxy EA and Happy Way.
The Happy Indicators Pro package is designed for manual forex trading. That is when you analyse the charts yourself in your own time for possible trading signals. You can enter and exit the market when you please, maintaining full control of your trades when compared to automated trading where everything is done for you.
How to use Happy Indicators Pro?
Basically, this is almost as simple as it gets when it comes to manual forex trading. You simply attach the provided Happy Indicators to your favourite instruments on your trading platform. The software has a built-in algorithm that will analyse the charts for you and send trading signals when it finds a potential setup. You can then decide if you would like to take the trade or wait for the next opportunity to come along. I would always want to confirm every forex signal with my own market analysis before taking a decision.
The Happy Indicators Pro package is very versatile as you can use it on any chart timeframe and financial instrument that you like. I like how each entry and exit point is clearly shown on the chart. The indicators can also give you optional price points where you can consider placing your take profit or stop loss levels. This can be a good way to help decide if a trade should be taken depending on how good or bad the possible risk to reward ratio is that the indicators suggests.
Happy Indicators Pro Features
The Happy Indicators Pro package is a set of technical indicators for using in the popular and free to download MetaTrader 4 (MT4) trading platform that is available from most online forex brokers. It is used by millions of traders of all experience levels from all around the world for both manual and automated trading.
I prefer to use MT4 from a reputable ECN forex broker as I find that they have the lowest spreads and minimal slippage along with competitive commissions and good customer support.
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.
The Happy Indicators Pro indicators can be used standalone (individually) or in conjunction with each other. They can also be combined with other technical analysis, price action, fundamental analysis or sentiment analysis. Generally speaking, I find the more analysis you can do, the better you can filter each trade. However, it is important not to over complicate things and make sure you are consistant and using a trading strategy that you feel comfortable with. Everyone is different which is why it is a good thing that these indicators are so versatile.
Some traders may already have their own trading system or preferred method of analysis. The indictors can be used as additional filters and confirmation of trading signals. I think it is good how the indicators take into account different forms of market analysis as this helps to ensure that they can adjust to different market conditions when compared to some other systems that only work well in trending or ranging market conditions.
The indicators can be used on any currency pairs and chart time frames. I usually prefer to trade manually on the longer-term chart time frames as I find they filter out some of the noise from the lower time frames and can catch bigger moves with more clarity. You can use them to scalp if you wish, there will be plenty of trading opportunities on the lower timeframes. Just make sure that your broker has suitable spreads and low commission fees if you are planning on scalping.
As with any manual trading strategy, the money management should be on point. Ideally with a favourable risk to reward ratio where a winning trade outweighs a losing trade so that one loser does not wipe out multiple wins. I hate to see one losing trade take out days or weeks’ worth of gains. If you have a good risk to reward ratio, you can even afford a few losses and still make pips with a few winners.
The Happy Indicators Pro package includes the following trading indicators: Happy aRANGE, Happy BIO, Happy bTIME, Happy Digital, Happy s1BIO, Happy xIND and HappyINDIcatorsPRO. You can choose to use one or all of them. I would personally combine all of them to filter trades as much as possible, this would give me more confidence in my decision making.
Happy Indicators Pro Summary
Overall, there are some useful indicators included within the Happy Indicators Pro package although they will require the trader to have some knowledge of manually trading and also good money management and trading discipline. This can be the difference between a winning and losing trading strategy.
The Happy Indicators may be used individually as they are, combined into one trading system or in addition to your own market analysis. This means that they are very flexible and suitable for all types of trading styles. I found them easy to use although I do think you will need some trading experience as you still need to decide if and when to take trades, along with the money management that you will use.
The Happy Indicators Pro comes with instruction manual, support, updates and a money back guarantee. If you do wish to give these trading indicators a try, I would personally start on a demo account to begin with. This can be a good way to practice your trading skills and get used to how the Happy Indicators work. Once you start having some success, you may then want to consider switching over to a real live account.
Happy Indicators Pro
€99
Pros
- Combination of market analysis
- Any financial instrument
- Any chart timeframe
- Easy to understand signals
- Optional target levels
- Detailed instructions
- Full support
- Money back guarantee
- Customisable settings
Cons
- Quite basic forex strategies
- Require some user input
- MetaTrader 4 platform only
- Time consuming to learn
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.
