TradingLab Private Indicator Review
Welcome to my TradingLab review for 2022. Here I'll take a look at this exciting service that promises to revolutionize the way people trade assets. TradingLab aims to provide the most user-friendly indicator that sends you consistent trade opportunities in real-time, allowing you to keep up with your trading. Whether you're new to trading or experienced, this review of the TradingLab indicator will help you make a quick decision.
Firstly, What is TradingLab?
As I mentioned above in this TradingLab review that it is an indicator that can help you in making better judgements. A very popular YouTuber released this paid indicator under the name "TradingLab Private Indicator".
It offers different packages that give the users constant trade signals in real time so that they can benefit from the bear and bull markets. It lets you monitor the market with its various features.
Is TradingLab Legit or Scam?
TradingLab is a website that claims to be a legitimate way to make a profit online. They offer a variety of indicators, educational resources, and a social network for traders. There are conspiracies about it being legit or a scam but I hope that the information in this TradingLab review helps you discover the features, pros and cons and more about the software.
TradingLab Pros & Cons
Here's what I found;
How Does TradingLab Work?
Now I will tell you how TradingLab works. Firstly, you need to purchase a plan as it's not free. Then, you will get access to the private TradingLab indicator on Meta Trader 5.
Meta Trader 5 is a great charting platform. It's been around for a while, and it has become popular in recent years. It's simple to use and easy to get started with. The competitors are from NinjaTrader to Interactive Brokers, all trying to win your business.
TradingLab's different tools automate traders' technical analysis while also providing them with an advantage in the market. Traders can access these tools via Meta Trader 5.
TradingLab's hybrid intelligent tools work in Meta Trader on all timeframes. They will also work in any market including stocks, forex, crypto, indices, and futures.
Moreover, you can benefit from the TradingLab trading community, which can be found on Discord. You can communicate with other traders on the Discord server, learn Pro Traders' techniques, follow them and much more.
TradingLab Plans & Pricing
The pricing comes next in this TradingLab review because no one wants to shoot in the dark without taking the cost into account. TradingLab, therefore, provides a selection of trading subscription plans. The website lists all pricing options, but I'll summarize them here;
Monthly Plan: $49.99
Features include Private Access To The Indicator, Buy / Sell Signals, Take Profit Marks, Stop Loss Lines, Trend Identifying table, FVG Identifier, Custom Candlestick Colors, Other Popular Indicators, 24/7 Support, and Automatic Support & Resistances.
Quarterly Plan: $124.99 (You save around 20%)
Features same as in the monthly plan.
Yearly Plan: $349.99 (You save around 40%)
Features same as in the monthly plan.
Now in this TradingLab review, I will move on to the features. There are many great features and tools to understand market movements. Below are the features;
Real-Time Signal Alerts
With Signal mode, you can get the most accurate buy & sell signals possible. Trade Mode can identify the best target or take profit points in any given market so that your trade setups will be successful with less risk of losing money due to fluctuations.
Trend Table Feature
With the TradingLab indicator, you'll always know how your investments are doing. It provides useful metrics for any style of trading and allows traders to keep an eye on market trends with a single view.
Fair Value Gap Signals (FVG) indicator
With this feature, you can get real-time fair value gap signals. The signals are automatically coloured bullish or bearish. This will allow you to predict retracements before they occur, which will aid your trading strategies and investments.
Automatic Support & Resistances Indicator
The indicator will display multi-timeframe support & resistances automatically. It is a good way to identify the strongest market structures and take advantage of them before your competition does.
Breakout Probability Tool Indicator
Breakout probability percentage values can be obtained in real-time. Based on previous chart history, this tool calculates the likelihood of a new high or low. Giving you the ability to predict the chances of a breakout before it occurs.
The Order Bocks
With the order block feature, you can track where central banks and financial institutions are trading. This will indicate areas where "big money" is likely to enter or exit.
BaseLine Feature for Market Flow
With the baseline feature, you can determine whether the market is bullish, bearish, or consolidating. This tool will provide you with profitable market recommendations.
Enabling/Disabling Tools Settings
Double-click on any of the chart icons to modify the indicator's settings or enable/disable specific features. A settings window will appear as a result. You can modify values, activate features, and customize the indicator experience here.
I will move forward with the Discord community in this TradingLab review.
The TradingLab Discord
You may already know that Discord is one of the free instant-messaging services for joining and engaging with online communities. This is where TradingLab hosts its community alerts and you can talk to other day traders and swing traders about how they use the indicator. Talk with them in chat rooms to make new trading friends.
The steps below will show you how to set up a free Discord account and join the community.
Create A Free Discord Account
So, to create a Discord account, go to Discord and download or open the Discord app from the browser. Then enter the username you want to use.
When you first join the server, you will only be able to see the verify and support channels. To view the remaining public channels, you must first verify your account. Get on the TradingView Discord if you are interested!
Lastly, if you are having trouble verifying, please contact TradingLab and they will assist you.
They also provide premium channels to users who want the full TradingLab experience. These channels offer private conversations with TradingLab, personal trades, trading patterns, and more. Click "upgrade" to see Pro or Premium channel features.
How to Set up TradingLab Indicator?
So far you've learned about TradingLab and what it can do for you; if you're ready to take the next step, you can do so by following the steps here. The process of downloading is as easy as it should be.
Step 1: Make a purchase.
Purchase the TradingLab indicator and enter your email address.
Step 2: Now download.
On Meta Trader 5, you will automatically access the private indicator.
Step 3: Make a trade.
How To Use The TradingLab Indicator?
You can now proceed with learning the basics of the symbols in this TradingLab review.
Strong Long: A strong long is an indication that it is time to start a long trade. It is a "long" but more "verified."
Long: A long is a signal to open a long position.
Long Exit: It will appear and alert you to exit the transaction if the long trade turns out to be a losing trade.
Strong Short: It is an indication that it is time to open a short trade. More "confirmed" than "short,".
Short: A short is a signal to start a short position in a trade. When a short trade turns out to be a losing transaction, a warning to exit the deal will appear.
Long Retracement: It will indicate whether the candle's bottom meets the trade's entry value.
Short Retracement: It will indicate whether the candle's high meets the trade's entering value.
Take Profit 1: Indicates if you should take a partial take profit.
Take profit 2: It will indicate whether you should close off the entire deal.
What timeframes does TradingLab support?
TradingLab supports all timeframes, including 1m, 5m, 30m, 1H, 4H, 1D, 1W, and so on.
What markets does TradingLab serve?
TradingLab can work with any market that has enough volume. Stocks, forex, cryptocurrency, indices, and futures are all examples.
Does TradingLab provide a win every time?
No, there is no algorithmic indicator that can predict such volatility markets with 100 per cent accuracy. Yet, it can provide unique and useful insight for use on any market available on Meta Trader 5.
Is the TradingLab indicator compatible with Meta Trader 4 and 5?
Only Meta Trader 5 supports the indicator.
My general advice to anyone is to remember that we do not always require many paid tools for trading, TradingLab is designed to help traders with tools, data analysis and also educational content. Still, does it worth your money when it comes to making profits and risk management?
That now depends on your choice, do your own analysis before purchasing this indicator. But if you don't want to spend the money there are other free indicators in the crypto market as well such as Free TradingView Indicators.
I hope this TradingLab review helped you know about this trading tool, do share what you think about it in the comments below.