This is a commercial indicator with a free 24 hour trial. It runs on Ninja Trader.
OTG Indicators free trial
I am still evaluating. Apparently they also run a weekly webinar to help you use the signals.
They had a good track record with their free signals (700 pips in October) but then ceased doing the free thing.
There are actually 4 different types of indicators (below is from the site) :
USDJPY has 3 indicators on the one chart.
The Purple arrow mostly only occurs around 8am Monday morning Queensland time. Profit and stop size is up to you and depends on market conditions however consider backtesting a 55pip profit and stop as a good starting point.
EURJPY has 1 indicator on the chart.
The Pink arrow mostly occurs during the US business day. Consider capturing small or large moves of even over 120pips depending on your style and market conditions, be sure to backtest what is the best historical approach for you. If you live in Australia and are normally asleep during this time slot then leave your computer running with the sound turned up so the Alert sound will wake you up if need be.
The Orange arrow occurs any time of day or night, you may choose to use a larger 80 or 90 pip profit and stop or whatever suits your trading style and the conditions at the time.
The Blue arrow occurs mostly around the start of the US business day as the US stock markets open. It does sometimes look at the US lunchtime as well.
When backtesting these indicators during your free 24 hour trial, you may choose to compliment these indicators by overlaying one of your own favourite indicators on the same chart as a filter for maximum success.
OTG Indicators free trial
I am still evaluating. Apparently they also run a weekly webinar to help you use the signals.
They had a good track record with their free signals (700 pips in October) but then ceased doing the free thing.
There are actually 4 different types of indicators (below is from the site) :
USDJPY has 3 indicators on the one chart.
The Purple arrow mostly only occurs around 8am Monday morning Queensland time. Profit and stop size is up to you and depends on market conditions however consider backtesting a 55pip profit and stop as a good starting point.
EURJPY has 1 indicator on the chart.
The Pink arrow mostly occurs during the US business day. Consider capturing small or large moves of even over 120pips depending on your style and market conditions, be sure to backtest what is the best historical approach for you. If you live in Australia and are normally asleep during this time slot then leave your computer running with the sound turned up so the Alert sound will wake you up if need be.
The Orange arrow occurs any time of day or night, you may choose to use a larger 80 or 90 pip profit and stop or whatever suits your trading style and the conditions at the time.
The Blue arrow occurs mostly around the start of the US business day as the US stock markets open. It does sometimes look at the US lunchtime as well.
When backtesting these indicators during your free 24 hour trial, you may choose to compliment these indicators by overlaying one of your own favourite indicators on the same chart as a filter for maximum success.