Singapore -- (ReleaseWire) -- 09/10/2012 -- Flagforex Pte Ltd announces a new valuable trading tool on Metatrader 4 platform that allows forex traders to plan ahead of their trades by drawing user-defined support and resistance lines on their trading charts. Forex Geometry expert advisor (EA) will monitor the market on the traders’ behalf while taking into the user-drawn support and resistance lines as active pending entry or exit orders.
ForexGeometry Trendline EA consists of 3 core components within the software package:
Feature 1 Trendline Booster
Trendline Booster feature turns any line that the trader drawn in the Metatrader 4 chart to work as active pending order for entry or exit. In addition, these active pending orders are ‘invisible’ to the broker so that any ‘stop hunting’ conducted by the broker will be reduced to the minimal. This feature increases the privacy of all forex traders’ stop loss, take profit and entry pending levels by making them ‘stealth’ to their brokers.
Trading session can also be pre-defined so that the ForexGeometry trader can plan ahead to instruct the software to accept all potential trading signals within a specified time and reject all trading signals beyond the specified trading session. This trend line booster component is a complete draw-as-you-trade tool for trading on the Metatrader 4 platform.
Feature 2 Indicator Booster
Manual forex traders will generally analyze market with indicators before they decide to make a trade in a desired direction. The main idea for this trendline trading tool is to work like a trading assistant whose main objective is to execute actions according to the trading plan. Indicator booster feature will allow indicator values to be factored into the trade automation just like a normal trader who uses the indicator values to determine his trading direction before placing a trade.
This feature allows traders to define trading zones in the indicator trading chart such as Relative Strength Index (RSI) indicator to designate overbought or oversold regions where trading signals will be accepted or rejected based on pre-specified instructions. Indicators can now be used as part of the decision making process whether to allow trade entry or to filter the trade entry.
This feature will allow manual system to be automated because the introduction of indicator filtering creates an artificial intelligence which put ‘thinking caps’ on Metatrader platform so that they are programmed to analyze information from these indicators before deciding whether to take the trade or pass it on.
Feature 3 Trade Management
The third feature allows various ways for forex trader to automate their exits. Forex traders can choose to perform scaling out feature by way of using the partial close line. User must first draw a line on the level at which he want to exit a percentage of the ongoing contract. When price reached the targeted drawn line, software will exit the specified contract size from the ongoing trade.
Traders who will like to shift their initial stop loss to breakeven price after market move N number of pips in the favorable direction, this process can be made on full automation by using the BE line (breakeven line). These two features will greatly reduce trading risk and form a crucial trade management technique while trading with ForexGeometry expert advisor.
Forex traders who use the forex trendline EA will never miss a trading signal again. The trader can sleep or work on a daytime job while letting the forex trendline ea take control over their forex trading.
ForexGeometry software makes it possible for manual forex traders to save time and plan ahead so that there is no reason to stay in front of their trading desk for hours just to monitor the market. This chore can simply be performed by the ForexGeometry application on Metatrader 4 platform.
Flagforex software business was founded in 2009. Over the last 3 years, this business has since worked with over 300 retail and professional forex traders in ways that technological software can increase trading efficiency and effectiveness. Flagforex product and service complements any trading style and will provide the forex trader an edge in today’ fast-moving market with constant market monitoring and precise execution according to trading plan.
The trendline software can be found at: http://www.forexgeometry.com/