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Omega Trend Indicator Review: is it a Scam?

Omega Trend Indicator Review: is it a Scam?

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First of all, the website omegatrendindicator.com has announced that they are moving over to fxautomater.com and subscribed users should know that their emails have been automatically moved to FX Automater’s database.Secondly, the team wants users of Omega Trend Indicator to know that this Forex indicator is being offered for free and that it’s based on 4 fundamental trading strategies.

Fxautomater.com feels that these 4 fundamental strategies will be helpful when it comes to assisting traders in achieving the success they want. They want the trading community to know that the 4 trading strategies include early movers, scalping, market break detection, upper and lower volatility estimates.

Today we only is will a Florida and will and and and and and and will and and and and and will and and and will you and you and you will or will or will be analyzing these issues, and anything else the vendor provides in order to let you know if this free program is worth your time and effort.

The Forex indicator is developed by the FX Automater team, run by Lachezar Krastev, located in Bulgaria. This popular Forex development team is behind around 15 to 20 different product releases over the past 8-10 years, including their BF Scalper Pro, Forex Diamond and Forex Gold Investor systems. This group is always looking for more ways to help their clients, while bowling in some extra revenue from each additional release.

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Omega Trend Indicator Review

There are a handful of Omega Trend Indicator top features that the development team wants to make traders aware of. When putting the system together they wanted to ensure that the indicator provides clear trading signals and sound alerts so that it’s easy for all levels of traders to utilize. They also wanted to make sure the software is compatible with all market instruments, all time frames and with different strategies which is why it can be used to scalp or day trade.

The indicator can also be upgraded to their Omega Trend EA, which is the automated version of the strategy going for $47. It is regularly priced at $97, but the FX Automater group are already running a black Friday sale. Generally, black Friday sales to start running or another weeks, but this group has decided start their sale early, and run it for multiple weeks.

Considering this is a free indicator, it likely won’t qualify for our best Forex indicator rankings, but that doesn’t mean you can’t learn from it if you have the extra time to spare.

The trading Strategy

The Omega Trend Indicator uses four strategic elements. Here they are in detail:

  1. Early Movers Earn Returns. This element utilizes a unique algorithm to detect early signs of movement and deliver this information to the client’s platform.
  2. Upper and Lower Volatility Estimates. Using analysis of the upper and lower limits of the market share, the indicator help traders understand how to operate within the current trend.
  3. Market Break Detection. This visual portion of the indicator “is dedicated to tracking potential reversals in the market.”
  4. Scalping Friendly. Pretty self-explanatory, the indicator allows for “potential scalping opportunities for traders who like to build their session profits 1 or 2 pips at a time.”

Further to these points, the indicator uses multiple trendlines to attract market activity. There is a thick trendline that represents the upper and lower volatility limits for a currency pair. Then, there is a sin line which is used to see the presumed pivot level of the market. So, for traders that are a little more advanced, they watch along with these lines to analyze the markets and see why signals are being provided. This is a similar approach used by other indicators like Forex Gump, MT4 Trend Indicator and Point Zero Trading.

Omega Trend Indicator’s uses two main trend lines to track market activity. The thicker Trend Line represents the estimated upper and lower volatility limits for the currency pair. A break in this line signals a potential reversal or shift in market movement – a potential trading opportunity. You can use the Trend line to quickly determine where to set your stop loss order. The Trend Line also keeps you updated on the direction of the overall market – pink signaling a down trend and blue an up trend.

The second (thinner) line is the Pivot Line. Use this line to see the presumed Pivot level in the market. A break in this indicator signals short-term scalping opportunities.

The above description is quite detailed. We are almost thinking that this is a premium indicator. However, the mere fact that it’s free means that we have to think twice.

Trading Results for the indicator

Is there are no Omega Trend Indicator trading results provided by the FX Automater team. This is very normal for Forex indicators, but we don’t feel like that’s a viable excuse. Especially with this indicator also being expert advisor, the vendor should be providing some verified trading results hosted on Myfxbook. They do not provide this information, and there is nothing to suggest that they will be providing it in the future.

Generally, we like this EA trading system prove itself before we have to figure it out and make it work for us.

Our best advice for you

Considering the Omega Trend Indicator is a free trading system, we have very few complaints. The vendor does an adequate job at describing their strategy, and showing us exactly how the software looks on the MT4 chart. That being said, it’s really hard to know at this point in time if the software is truly viable. There are little to no client reviews about this program or the Omega Trend EA, so it’s difficult to come to a final conclusion today. If you have anything you would like to contribute, please leave your questions and remarks below the article now.

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