We're delighted to announce the release of our latest platform independent analysis/alert service called Market Detective.
The new service is a game changer in price based alerts - Market Detective is based on percentage change analysis rather than an absolute price based alert service. Traders can analyse real time percentage change data for forex majors and then set threshold levels to alert them when price changes by more than a specific percentage.
The service runs over 9 timeframes in synch with MetaTrader 4 chart timeframes. Essentially the service is a spike monitoring and alert service with a MetaTrader auto-trade plug in if required.
During our testing period on short timeframe M1 charts we ran the system in a 'fade' mode where the system auto trade any abnormal price spikes (a high percentage change compared to normal)... Even during our testing period we found the position moved into profit scenarios very quickly which was extremely encouraging bearing in mind we didn't align our trades with underlying trends etc.
The auto-trading plug in can be used in two modes which are 'fade' and 'follow' where 'fade' trades trade in the opposite direction of the price spike and 'follow' trades trade in the same direction as the price spike. We think follow trades are best deployed during economic news releases and 'fade' trades during thin market conditions such as the Asian overnight session and also during times where price action is NOT being driven by news or geopolitical events.
Traders can subscribe to just the alert service if they chose to which delivers email based alerts. The MetaTrader MT4 plug-in is a separate subscription where a client side EA (Expert Advisor) is also supplied to auto-trade the signals generated by the Market Detective Service.
For more details please visit the Market Detective product webpage.