Raghee Horner’s EZ2Trade

EZ2Trade is an esignal add-on based on an approach called "Three Classic Tools to a Three-Step Set-Up."  These automated studies allow you to automate trendlines, support and resistance, fibonacci levels, minor highs and minor lows, the wave, candlestick patterns, pivot points, and trailing stop/strength indicator. 

I recently added this to my esignal plan in an effort to try to emulate these studies into a custom indicator that I will write.  The reason behind this is the cost.  To subscribe to this it costs $195 per month. 

After using this for the last 2 days, I cannot express how valuable I find these studies.  I’m a busy guy and trying to follow multiple currency pairs during multiple time-frames can be quite a task.  EZ2Trade automatically creates trend lines and support and resistance directly on the chart.  Without this tool, creating trend lines manually tends to be the most time consuming task.  It’s actually amazing how well the add-in was designed, how accurate the lines are, and how customized you can make it.

Another component of EZ2Trade that I’ve found useful is the Candlestick Pattern component.  This identifies candlestick patterns as they develop on your chart and places a unique icon under the candlestick.  So if a morning star develops on your chart, this will identify it and notify you.  This component  is also customizable and you can add, delete, or modify patterns using your own set of criteria. 

You can read more about his add-on on esignal.com if your interested.  I’m finding that I am becoming dependent on this more and more by the hour.  It truly is an indispensible add-on.  In addition, it is looking like a project to develop such an indicator may be quite an undertaking.

**UPDATE**

I found out that Raghee Horner doesn’t actually own this product.  It is developed by a company named Divergence Software and if you purchase it through their website, the price is substantially cheaper.  You would need to purchase S/R Analyst which is $350 a year and if you want the Candlestick pattern component, that costs $75 (one-time fee).  That’s an unbelievable discount of $1915 for the year.  You almost wonder how Horner charges that much.  Could it be that she includes her Daily Forex Report.  I don’t see how that could be worth the 2 grand.  For only $350 a year, I probably won’t even bother trying to write such a custom esignal add-on.

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