Forex Millennium – new forex indicator with effective algorithm and its analog

Forex Millennium – new forex indicator with effective algorithm and its analog

Characteristics of the Forex Millennium
Official website: forexmillennium.net
Platform: Metatrader4
Currency pairs: Any pairs, indices and metals
Trading Time: Around the clock
Timeframe: M15 – D1
Recommended broker: Roboforex, XM, FBS
How it works?
As you know, any new indicator is a well-forgotten old one (sometimes even the standard one from Metatrader 4). And, in my opinion, Forex Millennium is no exception. Very much in it resemblance to HalfTrend and Ozymandias. Of course, the novelty from Karl Dittmann is more perfect, devoid of repainting, significantly improved and supplemented with an information panel. In addition, it has three risk sharing modes: Conservative Mode, Medium Mode and Aggressive Mode.

But ultimately the fact is that Forex Millennium is from the HalfTrend and Ozymandias family. It is only necessary to select the appropriate settings, namely a parameter “Amplitude”.

Take a look.

This is Forex Millennium EURGBP M15 with a total profit of +323 pips:

fx-millennium-eurgbp

The image shows what to Buy when the indicator has a green channel. And Sell – when the yellow channel appeared. Stop Loss – at the level of the nearest local minimum/maximum. Exit a position when changing channel color. More detailed instructions you will receive on the official website.

And this is HalfTrend EURGBP M15 with Amplituda = 4 and a total profit of +361 pips:

fx-millennium-analogue-eur-gbp-amplitude4

This is Forex Millennium EURJPY H1 with a total profit of +571 pips:

fx-millenium

And this is HalfTrend EURGBP M15 with Amplituda = 14 and total profit +562 pips:

fx-millenium-analogue-eur-jpy-amplitude14

As you can see, the similarity of these indicators is obvious. Undoubtedly, HalfTrend is inferior to the development of the team of Karl Dittmann, at least by the fact that it changes its readings with a change in the direction of the price. But it is freely available and you can download it at the bottom of this article. The archive has the source file – mq4 and maybe some of you will manage to get rid of the repainting. But for Forex Millennium you have to pay, but I hope it is worth it. In any case, do not use this indicator alone – add additional filters and check its performance on a demo account.