09.41 | Label: NITRO+ Metatrader Indicator [2013 forex probability meter for mt4]

NITRO+ Metatrader Indicator [2013 forex probability meter for mt4]

NITRO+ Metatrader Indicator - Brief overview of the NITRO+ Metatrader Indicator

Forex Nitro as the above video shows is a newly released Metatrader software indicator for currency traders and a probability style eter that combines some 25 odd indicators. In my books, a trader DOESNT NEED 25 indicators. If you are trading short term ranges and day trading that is too many indicators my friends. Imagine in other fields of expertise trying to master that many indicators at once or other fields of training eg. Kung fu and in a street fight thinking "oh? which new move shall i use". In my books you just need a bunch of say 5 indicators although when I was trading actively and daytrading forex I tended to use chart patterns and breakouts over indicators which tend to be lagging the market action.

Back in 2008 I had a similar style indicator that tried to be everything to everyone and it turned out to be a dismal failture. Remember with trading indicators the market is what the market is and the Forex currency market will do what it wants and turn its ugly head on the newly installed, new fangled indicator and then you will be in deep doo-doos when you are trying to trade out a stuff up that has been implemented by an expert advisor trading on autopilot or that you have implemented a trade based on a multitude of indicators and... the indicators have been poorly written that they don't fire off a reverse trade, they simply stop working etc.

NITRO+ Metatrader Indicator : What does the NITRO+ Metatrader Indicator include.

This metatrader indicator and probability meter is also said to be usable on the six (6) time frames and combine into one signle number. The marketing material went on to say, "The percentage indicates how many of the paramenters (out of a total of 125) are all indicating the same 'Trend Direction' or UP/DOWN Bias".

Meter includes optional Pop Up Message Box Alerts and Audible Alerts. The trader may also adjust the percentage level that triggers the alert along with the audio file that plays.

NITRO+ includes The ClearChart Heiken Ashi Smoothed MT4 Indicator free. (10) templates included free highlight the different chart setups and allow the user to begin trading within seconds.

****Please Note - this forex tool is for the Intermediate-Advanced Forex Trader and the Experienced Metatrader 4 User. While very simple to install and understand, it does not tell the user EXACTLY when to Buy or Sell. Its intended use is as a Confirmational Tool only and in no way is meant to be relied upon solely to make trading decisions. It calculates trend bias from (25) indicators across up to (6) different timeframes and then aggregates that information into a single 'Probability Pecentage% Number'. The ultimate goal of this tool is meant to allow traders to make more informed, higher probability decisions. It is not intended to eliminate that decision making process... only assist in it.