The TJ10X Forex Indicator with Trend Power Feature, is a manual forex trading indicator developed by the SinryAdvice team. They are headquartered in Malaysia, creating Expert Advisors and custom trading indicators for MetaTrader 4, which conduct sophisticated analysis of fast-moving markets in a split second.
Here we are going to take a detailed look at the companies TJ10X Forex Indicator, covering what it is, how it can be used for trading forex and whether it is something worth adding to your trading toolbox. Now without further ado, let’s get stick into this TJ10X Indicator Review!
TJ10X Forex Indicator Strategy
The TJ10X Indicator has a built-in algorithm that will analyse the forex market for buy and sell signals. It can be used on any currency pair and timeframe, making it flexible for all types of trading styles.
The Trend Power is a new feature developed by SinryAdvice which shows how strong the signal is according to the algorithm. This can be used to only take trading signals of a certain threshold and as identifying possible market turning points for an exit.
In order to use Trend Power, the developer mentions that signals that have above 40 trend power are considered strong and any number below 40 weak.
Another Important and new function of the TJ10X indicator is that is has 5 different strategies in it which you can select between Scalping, Fast Scalper, Tick Trend, Swing and Trend. To know more about how to read the signals and how to use the 5 strategies, you can watch a tutorial video on the SinryAdvice website.
I would personally prefer to use the indicator on a popular currency pair such as the EUR/USD or GBP/USD, primarily because I find that they tend to have the most liquidity, which can help save in trading costs over the long term.
The higher timeframes such as the 1-hour and above, I feel help to filter out some of the market noise that can occur on the lower chart timeframes. Of course, you are free to use the TJ10X Forex Indicator in a way that suits your own trading style and goals, it is very versatile in that sense.
I would also not use the TJ10X Forex Indicator on its own. Rather, I would conduct my own additional technical analysis with other indicators, keep an eye on the market news for fundamental analysis and also make sure that I am aware of price action by analysing candlestick patterns.
One of the good points of the TJ10X Indicator is that it does not repaint after a bar has closed. There are indicators that can look like they picked the tops and bottoms of a chart in retrospect, whereas in reality they have just adjusted to the historical data. Provided a bar has completed, the TJ10X Forex Indicator signals should remain the same.
You do not need to sit and watch charts all day long, the indicator has an alert feature which can send you a notification when it finds a trading signal. This way, you can easily keep track of multiple currency pairs and timeframes, without needing to switch back and forth between charts.
TJ10X Forex Indicator Features
Now that have an idea of how the TJ10X Indicator works, lets take a look at some of the key features:
- Developed for the MT4 platform
- Manual trading strategy
- Can be used on any instrument & timeframe
- Trend power to filter signals
- 5 trading strategies mode
- Does not repaint after a bar has closed
- One off payment
- Lifetime updates & support
- Full support
- Full strategy guide & tutorial video
- Pop up Sound Alerts
TJ10X Forex Indicator Summary
Overall, the TJ10X Indicator has potential to be a useful trading tool for filtering trades in terms of trend direction and strength. However, I wouldn’t use it on its own. Instead, I would combine it with my own market analysis to form a more complete forex trading strategy.
That being said, it can be used as is, and it is very easy to interpret the buy/sell signals that the indicator generates. Furthermore, the alert notification feature is very handy, as it saves the user from needing to constantly monitor multiple chart windows.
The TJ10X Indicator is also very versatile, compatible with any instrument or timeframe, with a variation of 5 trading strategies to suit different trading styles. Perhaps I would consider implementing this indicator as an additional form of technical analysis on a demo trading account to experiment with.