Market Scanner

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Market Scanner PRO – analyze of the trend for all pairs and TFs

Market Scanner PRO is an information indicator that can analyze the direction of a trend on all trading instruments and time frames that are available in your MT4 terminal. The indicator comes complete with FX Venom Pro, but I wanted to pay more attention to it, so I decided to devote a separate article to MarketScannerPRO.

Characteristics of the Market Scanner PRO
Platform: Metatrader4
Currency pairs: Any
Trading Time: Around the clock
Timeframe: M1-WN

Indicator trading signals

MarketScannerPRO should not be used as an independent trading tool. This indicator can only act as an additional filter to determine the overall trend. This will be useful when opening a position on the main trading signal (for example, FX Venom Pro) in the direction of the trend. If the trend direction coincides on all time frames, then this is a stronger signal:

market-scanner-pro-signals

It is not clear which algorithm the indicator uses to detect the direction of the trend. Most likely, the data are built on the basis of price extremes. But this method can be very useful and accurate.