A review of the Forex-Boy Indicator App, a trading tool for forex traders, with a comparison of its features on the iPhone and Android devices, and discussion of its RSI divergence and alert features.

Forex Trading Tool Review: The Forex-Boy Indicator App

Forex trading can be an incredibly profitable but also complicated venture without the right tools. Fortunately, there are a plethora of solutions available to help traders navigate this field. One such tool is the Forex-Boy Indicator App, which we will be reviewing in-depth in this article. Sponsored by Forex-Boy, we will take a look at the application’s features, how it works, and how it can help traders make informed decisions. So, let’s get started!

Introduction: A Brief Overview of the Forex-Boy Indicator App

The Forex-Boy Indicator App is an all-in-one Forex indicator tool that is especially beneficial to scalpers. It is designed to help traders monitor different pairs simultaneously without having to watch the charts constantly. This feature is particularly helpful for traders who like to enter and exit trades based on what is happening with the price structure and technical indicators. The app can be found on both the iPhone Apple Store and Google Play Store by searching for the easy indicators dashboard.

Using the Watch List Feature

The main screen in the Forex-Boy Indicator App is called the watch list, which traders use to monitor different pairs at the same time. Adding a new pair is as simple as picking one and it will appear on the list. The gear settings icon provides access to the menu for all the technical indicators that traders want to monitor. This feature helps traders know when entry and exit rules are taking place without having to monitor the charts all day.

A Library of Technical Indicators

The app offers an extensive library of technical indicators that traders can apply to their watch lists. When traders hit the gear icon, the learn more option provides a complete breakdown of how each indicator works. For instance, traders who want to monitor Bollinger Bands would keep an eye on the top layer and the bottom layer. If the price breaches either barrier, the price will return to the median, which is the middle line. Turning on the watch list for the pairs that traders want to monitor will ensure that they are notified every time the price hits one of those barriers.

EMA Cross and Parabolic SAR

To monitor EMA crosses, traders can set up an EMA Cross on their watch list. A 5 to 20 EMA cross occurs when the faster EMA (5) crosses below the slower EMA (20). Conversely, when the 5 EMA crosses above the 20 EMA, it is a bull signal. Traders can also set up Parabolic SAR on their watch list. Traders, especially scalpers, use the Parabolic SAR to determine when to enter or exit trades. This feature is a time-saver because traders can take a quick look at their watch list instead of having to keep the chart open all the time.

Using the Forex-Boy Indicator App on an Android Device

Traders can also use the Forex-Boy Indicator App on Android devices. Adding pairs to the watch list on an Android device is similar to the iPhone version. Traders can select the set of subscriptions they want to track, then turn on the indicators they want to monitor.

The RSI Divergence Strategy

The Forex-Boy Indicator App also includes useful strategies such as RSI divergence. Divergence occurs when the indicators are not in agreement with the price action. This can happen from time to time, but traders must know how to identify and avoid making bad trading decisions based on what the indicators are telling them. The RSI divergence feature automatically monitors RSI divergence, notifying traders when pairs are bearish or bullish based on divergent patterns. This helps traders avoid bad trading decisions.

Multi-Time Frame RSI

The app provides a multi-time frame RSI that considers all the time frames when telling traders whether a pair is trending up or down. RSI is an oscillator that sits on the bottom half of the chart, and when it is below 30, it is considered oversold, and when it is above 70, it is considered overbought. Traders use this information in combination with other indicators to know when to buy or sell based on how close RSI is to these numbers.

The Alert Section Feature

The alert section feature is arguably the most valuable feature of the Forex-Boy Indicator App. The app allows traders to go about their daily business while staying informed about market movements. The app notifies traders when an indicator is triggered, eliminating the need to monitor the charts constantly.

Conclusion: The Benefits of the Forex-Boy Indicator App for Traders

In conclusion, the Forex-Boy Indicator App is a powerful tool that can help traders navigate the Forex market. It offers a broader range of technical indicators, strategies, and notification features that are easy to use and track. Traders can use this app to save time and make more informed trading decisions. Overall, it is a must-have tool for traders looking to achieve success in the Forex market.

Choose The Best Forex Broker