An In-Depth Review of the FOREX VIKING PRO Indicator

Table of Contents

The FOREX VIKING PRO Indicator is a non-repaint trading algorithm designed to detect high-value trade volatility and issue buy and sell trade recommendations for maximum profits. This indicator system aims to provide accurate market predictions to forex traders through easy-to-follow trading signals.

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Overview of the FOREX VIKING PRO Indicator

According to the vendor’s website, the FOREX VIKING PRO Indicator has been carefully programmed and comes with an on-screen panel that displays messages to buy or sell based on the market trend and spread. It also has a built-in range/trend change detector that sends alert arrows when there is a potential buying or selling opportunity.

Some key features of this indicator include:

Ability to set up email, mobile, or platform pop-up alerts so traders don’t need to stare at charts all day
Can be used on any forex currency pair or other assets like stocks, commodities, crypto, metals, oil, gas, etc.
Works on any timeframe from 1 minute to 1 month
Provides entry and exit trade signals
Never repaints, 100% non-repainting guarantee

The indicator is fully manual so traders have to decide when to enter and exit trades based on the signals and their own analysis. It is recommended for traders of all experience levels, including beginners, but best to practice on a demo account first to build consistency. Proper risk and money management principles should always be followed when using this system.

Using the FOREX VIKING PRO Indicator

Trading with the FOREX VIKING PRO Indicator seems relatively straightforward based on the vendor information. When a new signal is generated, the system will display a “BUY” or “SELL” message in the top left corner along with a blue or purple arrow on the chart.

The buy and sell trade rules are as follows:

BUY Trade Rules

Open buy trade when signal turns to “BUY” and blue arrow appears
Set stop loss below previous swing low
Target minimum 1.5 reward/risk ratio or close trade when signal flips to “SELL”

SELL Trade Rules

Open sell trade when signal turns to “SELL” and purple arrow appears
Set stop loss above previous swing high
Target minimum 1.5 reward/risk ratio or close trade when signal flips to “BUY”

The indicator also has customizable inputs for changing colors, signal periods, timeframes, price selection, and turning alerts on/off. Multiple types of alerts are available including pop-ups, email, push notifications, and sound alerts.

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Performance of the FOREX VIKING PRO Indicator

The vendor shows numerous chart examples of the FOREX VIKING PRO Indicator generating signals across different currency pairs and timeframes. Based on the charts provided, the signals appear clean with no repainting visible.

However, no verified performance statistics are given. As a general rule of thumb, it is wise to be skeptical of any performance claims from a vendor without proof. Most traders recommend demo testing an indicator thoroughly across different market conditions before risking real capital.

On the other hand, some independent traders have shared positive experiences using this indicator system. For example, one review mentioned consistent success after tweaking the default settings. However, personal trading results will vary among individual traders.

Pricing for the FOREX VIKING PRO Indicator

The FOREX VIKING PRO Indicator for MetaTrader 4 is available for purchase on various websites with prices ranging from $27 to $37 for a one-time unlimited license fee[5]. Occasionally there are discounted sales offered by vendors and affiliate marketers.

Considering many profitable indicator systems sell for hundreds or thousands of dollars, the pricing seems reasonable if the performance claims hold up. Lower cost does not always mean low quality when it comes to trading tools.

Pros and Cons

Pros

Simple and beginner friendly trading signals
Customizable settings and multiple alert options
Low one-time purchase cost
Vendor offers unlimited license with no monthly fees

Cons

No verified statistics showing historical performance
Requires manual trade management instead of automated EA
Needs more user testimonials from live trading accounts

Conclusion

The FOREX VIKING PRO Indicator offers traders an easy-to-use system for identifying volatility and trading opportunities across any market or timeframe. The indicator aims to provide consistently accurate predictions via its non-repainting algorithm and real-time alerts.

For the budget-conscious trader, the low one-time fee makes it affordable to test out. However, as with any indicator system, traders should exercise caution and manage risk properly when using it. Thorough demo testing across different market conditions is highly recommended before going live.

While some traders have reported good experiences using this tool, the lack of performance verification means potential buyers should keep expectations realistic. As always, personal trading results will vary depending on individual skills, risk management, and market factors outside one’s control.

Overall, the simplicity and flexibility of the FOREX VIKING PRO Indicator makes it worth considering, especially for novice traders looking for an easy introduction to technical signals. But due diligence is still required before trusting any vendor claims or relying solely on an indicator for profits. Use it as part of a complete trading plan rather than an outright solution or “holy grail”.