Forex Blog

Trade Assistant is the second multi-timeframe indicator after TRO MultiPar, which I’ve posted in April. I’ve found this indicator on the forex-tsd.com forums; it was originally created and posted there by Tom Balfe. As with other multi-timeframe indicators it looks very nice and informative with the table output layout of the buy/sell signals. It can be attached to any timeframe chart and it works well with all currency pairs. Trade Assistant will show you the signals for M5, M15, M30, H1, H4 and D1 timeframes. As the base for its signals it uses Stochastic Oscillator, RSI and CCI (Entry and Trend signals). I noticed that when all four indicators show the same signal for the whole timeframe and the neighboring timeframes, it can produce some nice profit. The only problem is that you need to enter positions just right after the signals have switched to a good combination and exit immediately when they have changed. Overall Trade Assistant is one of the most interesting MetaTrader indicators I’ve encountered in months.

Two new MetaTrader indicators are now available for download from my site. Both indicators come from forex-tsd.com forums. They are very different, but they both looked quite interesting and useful to me.

1. Murrey Math Line X — indicates a set of support and resistance lines that can be used similarly to the common pivot points. It consists of 8 different lines, each representing a certain pivot level. Adding this on the chart makes it more readable and can help determine next price stop point:
2. TRO MultiPair — a very cool indicator by TheRumpledOne from the forex-tsd.com forums. It shows multitimeframe signals for several currency pairs on one window with several gradations of the signal’s strength. It’s based on many smaller indicators and can be quite useful, especially in scalping and long-term trading. A good scalping strategy is to sell when signal shows red-red-magenta for M1, M5 and M15 timeframes for the given pair and to buy when it shows green-green-magenta: