ForexGumpUltra is a new and more advanced indicator of the ForexGump series.
This indicator easily determines the price direction on any currency pair and any timeframe.
The indicator draws its signals on the zero bar and does not redraw them (see the video).
In the 34th second of the video it can be seen that this indicator uses new filters to determine the changes in price movement direction without delay, despite the market noise present at the moment (see the video on the 34th second).
Once the indicator determines the further direction of the price, it generates a signal in the form of an arrow. Blue arrow – buy signal. Red arrow – sell signal. Further direction of the price is highlighted by the indicator with a certain color, red or blue.
After an arrow appears on the chart, the indicator starts demonstrating the potential profit or loss in points.
This information is not final, as it can not take into account the speed at which the trader closes the order and the commission charged by the broker. However, with these figures, it will be easier for the trader to determine the efficiency of the indicator and to select the correct parameters. In general, this system is good both for novice traders, since it is a practically complete trading system, except for the money management, and for experienced traders with an established trading system they would like to reinforce or improve further for achieving even better results.