Recently, sound alert forex indicators have been implemented more in online trading. And this is probably not even the last stage of the development of the trade facilities. It should be clarified that the sound alerts are no more then the factor, which makes trading easier, but it is not the newest algorithm for price calculation. The beginner, who only learns Forex trading and hears the phrase “The Audio Alerting Forex Indicator”, might think anything. This is why we would like to describe what are the audio alerting Forex indicators and should they be used the basis for trading strategies.
The audio alerting Forex indicators that make sounds have no difference from the usual indicator which is silent. It means that if the sound function will be added into the indicator constructing algorithm the signals, which are generated by it will be notified by sounds. Although in fact signals can be produced not only for the opening of the transaction. The sound can be generated at any time, which was chosen in the indicator. It depends on the indicator itself.
The image highlights the overbought and oversold points, which are shown by the RSI indicator. For example, to be able not to spend all the time sitting at the desk observing the monitor and control the chart visually, you should simply add the formula into the indicator construction structure. Then if the line crosses levels 70 and 30 in the opposite direction, the alert which shows the market readiness for a possible reversal will be produced and thus it will focus the trader’s attention on the appearance of the possible trading.
But you can, for example, make the sound appear only when the fractal itself occur. So, if it is an interval of 15 minutes, then instead of, let’s say two hours of sitting in front of the monitor, it will be enough to just check the situation couple times when the sound appears.
Or here is another example of the ISDA indicator. There is a derived indicator with sound warning in the archives. When moving crosses the histogram the sound notification occurs. But considering it more precisely, this indicator could be modified so that the same sound would occur when the lower histogram line level appear. As a result this combination will be formed:
Now, if you hear the first notification, it means that the market turns around, and when you hear the second notification, it means that it is necessary to take a decision. In general, the picture is not so bad, the only thing you need is to understand whether you have enough patience stay away and avoid checking the market before the alert. In fact, this instrument is very convenient if you are doing other things or temporary you have no access to the computer.
This is how the audio alerting Forex indicators make the control over the market situation easier for you through the indicator itself.
One considerable nuance should be noted here. We are talking about the use of audio alerting indicators in the trading system. It seems to be easy. But in fact it is not. If the trading strategy includes, let’s say more then one indicator, then you should set the sound alert only for the one that plays a main role in the trading process. That is, if the alert of the main indicator occur, it is necessary to go and see the situation. If the situation is quite and the second indicator generates the signal it is worth remembering that it is not the central indicator in the trading system. Thus, the principle is still the same, but the work is easier with the alert. And the most important here is to realize that the meaning of the alert, whether for order opening or for closing it, has indeed, no difference from the usual indicator, except for the generation of the sound.
Thus, the audio alerting Forex indicators make trade easier and calmer. Moreover, you will have more free time, which can be used on the deepening of knowledge on theory or just on the rest and doing some other things.