I came across these best trading indicators from Paint Bar Forex / PFX Extreme a little while ago from the weird but not so hyped up looking website and tried these forex signals generated on Meta trader 4 platform for trading.
Just like the rest of internet forum and paint bar forex system reviews users I made money then lost just by taking the suggested red/blue paint bars and kind of dismissed these were the best forex trading software!
However, after I accidentally watched a few videos made from those who used them to make money and their websites are now no longer available, I changed my mind.
I re-read the manuals again and also read through their other Xtreme Paint Bar Forex site that caters for other trading platforms with lots of charts and commentary, I finally learned how to make money with these paint bar charts and you can too if you trade with these trading signals and follow the rules. Just trade what you see and follow the rules.
Simple Trading Technique - Trade What You See With These Trading Indicators.
These are the best trading indicators (or even forex trading software some may say) for anything that can be traded on Meta Trader 4 platform. Blue bar means market is going up, while red means going down. Yellow bar means it's resting/consolidating, going side way or even reverse. Yellow scalper dot appears after 2-4 bars to mark swing high/low. These coloured indicators never repaint .
It works on all time frames. You risk a little, but the reward is quite Big. Even if you don’t trade on Metatrader 4 platform, you can open a demo account, download the MT4 platform and install Paint Bar Forex PBF Extreme indicators onto the platform.
Open a chart and attach Paint Bar Forex template to it.
You will end up with a chart looking something like the above.
You can then use these mt4 trading indicators to generate trading signals to trade forex, indexes, commodities or whatever your MT4 broker offers.
By following my below rules, you can see in the above paint bar forex chart that there would be a few Long & Short profitable trades.
It seems best trading indicators - Paint Bar Forex for MT4 is not for sale anymore, which is a shame as I find it quite good. However, I accidentally found something similar, FREE Trend Color and Colored CCI, whilst working on automated trading system without programming- EABUILDER.
Below is a normal 5 minutes chart of Eur-Usd with the normal technical indicators. You can only see the trend after it happened.
Here is the same chart with the Free Colored Trend and Colored CCI indicators - best trading indicators 2 !
As you can see from the chart, it's easier to see the trend. Red bar means market is going down while green is equivalent to yellow paint bar/ resting/ reversing. Lime colored bars mean market is going up.
If you combine some of my paint bar forex rules below like 7, 8 and enter long on lime colored bar, short on red colored bar and set some new one using cci 123x, you can make some money with THIS EABUILDER as shown in the above diagram (3 profitable trades ).
These indicators are free and you are free to use the online system to create indicators with alerts for meta trader4 , 5 and also Trade Station. If you are more clever than me, you can even modify it to look/act like the paint bar forex indicators below.
If you want to use unlimited functions and also create automatic trading using your own rules and indicators , then you can upgrade to a member version and there is one time payment of $97 which I highly recommend to use .
I used more or less the exact trading strategies as taught in the videos: Support and Resistance Breakout and Trendline breakout and I am having some success.
You too could profit from this system. Click Here To Get Your Free Indicators From EABUILDER.
There are a few rules /trading strategies to use these trading signals from Paint Bar Forex:
5. On a strong trending market, the I tunnel often acts as dynamic support and resistant and blue/ red candles tend to bounce off them.
6. Yellow bar often indicates trend is slowing down, possible sideway to reverse and they often occur at market turning point/ reversal point.
7. Trade/ add to long/short position during a pull back in a up/down trend when all blue/red bars line up with PBF squeeze, trend and overbought/oversold trading indicators.
Take Partial profit/exit when Paint Bar and squeeze/trend change colour and trail stop loss using I-tunnel/ 2EMA.
8. Only enter counter trend when it’s been trending for a while like 5- 13 peaks and bottoms, together with oversold/overbought and corresponding Red or Green squeeze, trend indicator.
There are times when there is a clear divergence between the paint bar chart, Squeeze and overbought/oversold trading indicators, just like The above Chart and examples below.
Do not enter trade if there is not enough profit to be made from entry to the next support/resistance level like 2MA, last scalper dots.
9. In a non trending, ranging environment, the Xtreme Paint Bar Forex peaks and bottoms really get picked up by the Squeeze, trend OB/OS indicators. Use them to enter the trade and exit when you see different colours on the Squeeze .
10. When price/paint bar bounces off green/red 2EMA 3 times or more in a trending market, it's likely to reverse direction (potential end of Elliott wave 5). Watch price break through other side of 2EMA and use OB/OS together with Squeeze indicator and rules 1 or 2 to catch potential reversal trades.Four Days, Four Trades, +40% Average Returns
An example of Euro-JPY trade on a 5 minute chart, kind of like using forex trading software to get the trading signals.
Here is another example- GBP-USD on a 5 minutes chart, showing this paint bar forex system even works before (educated gamble as stop loss is small & 1 hour before data release) and after economic data is released . Just trade what you see with these paint bar forex charts.
A small stake/trade like these examples can pay for the monthly version of these trading indicators or even lifetime access .
Here’s a different trade, German Dax - 5 minutes trade using the best trading indicators for Meta Trader 4 platform. I combined a little knowledge of Delta/matrix turning point as well, kind of stock market index strategy.
And just to show that it even works on 1 minute chart of the Asian Index- Hang Seng. Here is a quick trade I did and made some quick money. Again, the commentary is on the chart using these trading signals/ stock market index strategies. I also added Pivot lines to the chart as well as they quite often work on Hang Seng index.
Well, if you follow the Rule, it will work about 90% of the time. If you don't follow the rules listed above, you will lose, just like the below. I got carried away when the European market had just opened.
These trading indicators even work on longer time frame, 1 hr, 4 hrs and daily claims the creator of the software using the same rules. As the stop loss is bigger on longer time frame, I only trade 1 min and 5 minutes and then go off to do something else. May be I should trade these time frames after studying the charts again and look at how well they performed.
Each coloured bar represents 1 hour on this Dow Jones Index. Using the same rules above, most of the the trades would be profitable.
Here’s a 4 hour chart using Paint Bar Forex System
Again, using the same rules above, most of the trades would be profitable. Even the beginning of October's uptrend would have been caught had I traded it using Rule 10 !!!!
Here is the daily chart of Dow Jones Index using the best trading indicators on meta trader 4 platform.
Well, there you have it. The chart speaks for itself. I should have traded what I see using these Paint Bar Forex charts and not scare of bigger stop loss than lower time frame as the reward here is a lot bigger !
Seen enough and convinced it’s simple trading technique and can fit whatever time frames you want to trade?
You can use these indicators for your trading as well. You can get the Best Trading Indicators here.
***Note 1- The website does not have many trade examples like mine, but they are inside the manuals.
***Note 2. There are 2 versions : Monthly and lifetime access. You have 30 days money back guarantee and also email support which is quite good. They normally answer within 24 hours.
There are manuals for each indicator as well as a quick guide on how the creator trade using these best trading indicators from Paint Bar Forex.
***Note 3. If you are in United Kingdom, currently, there is a spread betting company, gkfx.co.uk offering a limited time £300 net loss being reimbursed to you on your 1st month of trading if you mention my name as Wai Hau on the application form.
So it's worth trying both the trading indicators and trading platform.