The FX or currency market is the world’s largest trading platform that deals in more than $5 trillion worth of currencies each day. It remains open for 5 and half days a week and is the most volatile trading arena in this globe. Investing in this currency market requires precision and discretion of the highest level. One needs to perform an intricate and close study of indicators that come with every reliable trading platform. Therefore, arises the need of Forex alert indicator free download.
How do indicators help?
Indicators are alerts that make an investor aware of substantial forth coming market changes. This can be the budget release of a particular nation, sudden natural calamity affecting global currency prices or a range of politically unrest events. Whatever may be the situations, these indicators come marked in three distinct colors – red, yellow, green. Here is an in-detail explanation.
• News releases market events that align in “green” are comparatively less volatile and almost harmless. If these news events fid a plot on the zigzag indicator graph, they shall lie below the threshold mark of 10%.
• News aligning in “yellow” are preferably important events such as budget release of a particular nation. A financial budget brings about certain changes in various pricings. These in turn have the capability to cause notable deflections.
• Any news that comes in red proves to be most volatile. This can be a natural calamity breaking put in certain part of the world. It can cause trend reversals and covert a bullish market into a bearish one in no time.
These above factors, therefore make it even more crucial to get hold of Forex indicator alerts free. And one can grasp these updates on a constant basis from their automated trading platforms.
Trading bots and Forex indicator alerts:
An automated trading system supports absentee trading. In simple words, traders feed their investment data into this software and log off. As per the inputs, these bots perform technical as well as fundamental analysis of the market and provide their users with alerts in the form of indicators. These indicators lay a clear image of upcoming price trends; and forecasts trading results alerting traders to make necessary changes (if any).
Moreover, these platforms also aid in providing indicators directly to a trader’s smartphones. In this world of fast internet, platforms like MetaTrader are available in smartphones through apps. Investors can utilize them to receive regular updates on their currency account through a Forex alert indicator free download.
An in-detail example concerning the use of indicators goes as follows. Suppose a trader is looking to invest in EUR/USD currently running at 1.3002. Market forecasts claim that this price will reach the 1.3009 mark. As a result, the trader sets his stop loss at 1.3007. However, a sudden notification regarding a natural calamity in Europe updates the ceiling value of this currency pair to fall at 1.3004.
With this sudden notification, the indicator makes necessary changes thus bringing down his stop loss to 1.3003. With this, he makes a profit of just 1 pip, but he avoids any undesirable losses.
The above example clearly demonstrates the importance of Forex alert indicator free download in terms of accurate currency trading. If you are still thinking, then get hold of a reliable broker today and start investing in this currency market.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.