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The Forex Holy Grail System is a trading indicator costing a whooping $597. Most Forex indicators don’t cost this much. So the community must be wondering whether the worth of this trading indicator can be demonstrated.
Well, first of all, there’s a 60-day money back guarantee to provide some level of security to those who purchase the Forex Holy Grail System. The trading indicator can be purchased directly from the official website of the Forex Holy Grail System.
The developer is called Alex Nikosvsky. It is not clear where this developer is based from but going by his name, we can conclude that they’re probably Russian.
The developer’s Facebook page for this specific product can be found here. It has a good following but it appears dormant as the last update was done in 2017.
Alex claims that he has been a long-time Forex trader, investor and developer who borrowed his trading strategies from influential traders and scientists like William Gann, Ralph Elliott and Richard Wyckoff.
He claims that the works and theories of these traders helped him find his own trading edge and he is willing to share it with the community for a cost of nearly $600.
The advertised win rate of this trading indicator is 80%. The owner claims that we can grow our account in a steady fashion and even recover the cost of this software within a month.
This sounds like pure marketing gimmick as opposed to something that is based on factual evidence. This is a very common occurrence in the Forex trading space.
Trading tools like Dragon Expert EA are actively being promoted using this style of marketing. So before the community can actually believe Alex Nikosvsky’s story, it is important to review the various aspects of this trading indicator before we can folk out the top dollar just to acquire a trading indicator.
Forex Holy Grail System review
It was cumbersome to go through the thick wall of texts found on the landing page of this website. It would have been appropriate if the developer kept it short and straight to the point.
While going through the entire website in order to write this Forex Holy Grail system review, I wanted to know the trading strategy behind this indicator and whether the 80% win rate could be proved.
I also wanted to know the track record of this developer, i.e how long he has traded or developed indicators like this particular one.
I’m not sure why this information is not available on the sales page. The only thing I can see is heavy promotion where Alex claims we can win all trades with 80% level of accuracy. He claims the trading indicator can work well in all market conditions, whether trending or ranging.
He also wants the trading community to believe that the Forex Holy Grail system is the only working indicator and that all others in the market are useless.
Forex Holy Grail System review: Trading strategy
With the high price tag of this Forex trading indicator, it is in order for Alex to explain the trading strategy behind it.
He claims the software is easy to use although complex combination of mathematics and geometric principles have gone into the creation of the code.
It is based on W. D. Gann’s methods for the time axis which rides on the belief that future projections will result in a time cluster and this time cluster can be used to predict market reversal points.
In addition to this, it is created with support and resistance levels in mind, thanks to W.D. Gann’s method of trading using these techniques. Alex claims that with this special combination, traders can find success in this universal trading indicator whether they choose to scalp, day trade or swing trade the market.
But this is not all. The Forex Holy Grail system is allegedly using wave analysis to calculate price waves instead of using conventional wave analysis tools.
The reason that this developer is giving to support this system of trading is that he uses Renko charts where market movement is calculated based on volume and strength. He further claims that Renko waves are different from the conventional price waves.
The main selling point here is that the Forex Holy Grail system uses special wave detection algorithm because trading with Renko charts require many factors to be considered. Renko charts are not to be used with everyday trading tools. The tools that use Renko charts for trading should therefore be adapted according to the way that Renko bricks are generated.
By the way such things have never been done before by any other trader out there. Usually people use same tools for renko that they use for everyday trading. This is not a good way to trade. Instead the software should be adapted to the way how renko bricks are generated. We should always remember that renko is not a conventional chart and thus we should have a different approach to study it. This is why I wrote a special wave detection algorithm which takes all renko factors into consideration.
Alex also wants the trading community to believe that analysis of the charts is done by Volume Spread Analysis (VSA).
VSA looks for areas of supply and demand which show up in the charts as a result of major Forex trading players such as banks, market makers and professional traders placing their orders.
Basically, the explanation here is in-depth but Alex is not telling the trading community how entries and exits are made with this indicator.
So far, the explanation behind the trading strategy is solid and perfectly done. But we still need to know whether the alleged 80% win rate can be backed with trading performance.
The developer has published a bunch of screenshots showing signals that were allegedly generated by the Forex Holy Grail system. They claim these signals were not cherry-picked.
This is the only thing that Alex has to show in order to make the community believe the 80% win rate. I was expecting a link to his myfxbook account or his broker statement showing his live trades for that matter.
What he is presenting cannot be used as proof of trading performance or evidence that Forex Holy Grail system is a truly profitable indicator.
I’ve seen quite a few and majority of traders say this Forex indicator works well. However, someone hinted on FPS forum that Alex is submitting fake reviews in different forums to make it look like people really love the software.
I don’t want to entirely rely on reviews submitted on these forums. I want to see this trading system in action. Alex has failed to prove his trading prowess and therefore his skills as a professional trader are questionable.
If he cannot prove the 80% win rate, there’s nothing that can make you believe the hype that feels up the entire sales page of this indicator.
But maybe am wrong. If you’re daring enough, go spend the $600 on a Forex indicator like this one but make sure you’re covered by the 60 day money back guarantee.
Otherwise those who have used this indicator before should drop their comments.