Do you find it to be a bit of a drag, scanning through the charts every day or even every hour, looking for particular setups? Is it not always practical to open Metatrader every hour (e.g. when you're at work and your boss is looking over your shoulder); and when you do it turns out to be a waste of time because your favourite setup isn't on any of your charts? What if you've discovered a high-probability candlestick pattern that only shows up once in a while on the major forex pairs - you can't scan all the other 100+ pairs because it would just take far too long, not to mention bore you to death.
Worry no more - the Market Omni Scanner has been created. Designed to run in the background. without human intervention, with email and web alerts when your favourite set up has been found - on as many markets as your broker offers. This time-saving tool should ensure that you never miss your favourite setups again (providing you have web access of course).
Check email or webpage - see your setup signal - open charts - validate that the setup meets your other criteria - place trade. How much simpler could trading be?
More info coming soon or send us a note, using the 'Contact Us' page, for a sneak preview.
The For-Exe R&D department (sounds a lot more impressive than it really is) has spent the last week testing and trading range bars - a most profitable week it was, mostly from scalping the DAX.
If you don't already know, range bars differ from normal price bars in that they only create a bar when price has moved X number of pips. Time is not a consideration, just price, giving rather clean looking charts without the 'noise'. It is purported that various indicators such as moving averages, RSI, Ichimoku, etc are more effective on range bars - something that our research seems to agree with. We also found that harmonic patterns are easier to spot and the drawing of supply/demand zones just a bit more objective.
We created a little indicator to generate buy/sell signals using the Alligator. The pictures below shows the signals generated over the same period. The potential profitability of the range bar signals is self-evident.
It should be noted that a couple of nice trending periods were selected for the above pictures - not all periods will be so easy to trade but all-in-all it's fair to say that trading range bars 'with the trend' should do you well. We will continue our research.