Forex Broker Comparison

Forex signals

Signals for forex evaluate the constellations of a course when a certain development in one direction is announced. If you are not yet familiar with Forex trading, there are various websites or service providers that offer this offer service. Signal functions can also be integrated into the trading platform or already exist - free of charge. the well-known trading platform Metatrader 5 already comes with many signal functions. Signals can be inserted into the current chart with just a few mouse clicks.

When do trading signals appear ?

The technique of signals for Forex is based on a simple chart analysis and the probability calculation. The chart patterns of the past are also helpful, as certain constellations and often repeat the price development that follows. The chart analysis here is often based on trend channels or its breakout.

Forex signals

Use of signals

Forex signals

Many years of stock market experience shows that some developments repeat themselves over and over again. By using the Forex signals, even for Forex beginners, the chance to recognize certain trends in time to make profitable trades. Many brokers or service providers have fixed times when they issue the signals - mostly mornings and noon.

Autotrader for signals

Forex trading signals are created according to certain mathematical specifications. These signals can be obtained from the brokers or other service providers. However, you can set the Autotrader so Recognize signals independently and set appropriate trades. An advantage of the autotrader is that you can can set signals based on their own strategies. Use Autotrader to spot signals as it is in the Forex exchange is also a lot about math and speed. A computer or a program can act much faster and more precisely than humans.

Criteria for good signals and their providers

There are now some service providers who offer forex signals. These offers can be free, but if you want professional signals, are these subject to a fee. Even free signals can be of good quality. Below are some criteria on which one should pay attention to offers for signals:

  • The quality of the signals should be comprehensible on the charts of the past months/years.
  • The performance should be good, i.e. positive trades could be completed at least 75%.
  • Pay attention to fair contract conditions, such as term and notice periods.
  • The price for the signals should not be higher than about 200 euros per month.
  • Test free signals in advance with a demo account.

Signals for Metatrader 5

Especially for the MT5 there are many signals that are available. There are many providers of MT5 signals on the Internet. You can also contact some brokers Download additional signals and addons for the Metatrader. Basically, the MT5 comes with some signal functions and indicators.
Metatrader 5 signals

The MACD indicator

The MACD indicator can be added with a few mouse clicks (Insert → Indicators → Oscillators → MACD). Various parameters and colors can be set. The MACD indicator has a horizontal zero line. If the indicator is above the line, it would be a sell signal. If the indicator is below the line, is this a buy signal. The farther the scale is from the line, the stronger the deflection/signal. Now you can determine from which value (up or down) a signal is generated. An Expert Advisor in connection with the MACD indicator is very convenient here. One can program the Expert Advisor to react to the MACD signals.

The RSI indicator

RSI means Relative Strength Index. This indicator can also be added with a few mouse clicks. The RSI indicator has a vertical scale from 0 – 100. And there are 2 horizontal lines at the level of 30 and 70. These two lines form a tunnel in which the price runs normally. With strong price movements, the indicator breaks out of the tunnel up or down. Now a buy or sell signal is generated again. The RSI indicator can also be easily integrated into an Expert Advisor.
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