Frequently Asked Questions
Will I be able to Install MagicTrend Indicator in my two different Machine?
As our product registration is linked with the machine on which you provided the Hardware ID. So you will need a different license for the other machines even if it belongs to you. You have to purchase a separate license for each machine. We will provide discount for extra licenses you order.
What will happen with my registration of product if I reinstall windows?
The registration key will still be valid but you have to re-install from the installer file and enter the registration key details which is provided in the mail when you register for the first time. You can again download the installer file from here.
How can I update the currency on purchase page?
Please go to: https://nascenttraders.com/shop/
At the bottom of the page, there is an option to select a country, select the required country as shown in the screenshot, then the currency will be updated accordingly.
What is algo trading?
When you allow your computer to execute trades for you with a specified set of rules it is called algo trading. It is also recognized as robo trading, auto trading, quant trading, etc.
What is the need of algo trading?
The only fact that: “Computers are better and profitable traders if given a proper set of trading rules.“ is enough to state the need. In the modern age of artificial intelligence, algo trading is becoming increasingly popular in the global trading community. It has already been in the market since the last two decades but available only to institutional traders. But now even individual retail traders have access to this technology.
What are the benefits of algo trading over manual trading?
The list can be run too large for you to read, but here are a few major benefits:
- As stated above computers are better traders than human if it is given a proper set of rules.
- Execution of trade is 10 to 100 times faster than manual, resulting in better trade execution price and almost zero missing opportunity of trading.
- Complete removal of emotional and unlogical trades which in most case result in large losses.
- Traders fill relieved from trading stress that results from constantly being in the “Judgement” mode. So traders can concentrate more on other factors which can make their trading profitable.
- Reduced risk of manual errors when placing trades.
What are the requirements for algo trading?
- Reliable and fast computer machine
- Technical or fundamental trading software like Amibroker/MetaTrader
- Demant account with auto trading facility enabled
- Good trading strategy
- Trading Robot that fetches signals from trading strategy and sends to broker
- Reliable Network connectivity
- Real Time Market data
- Availablity of large historical data for backtesting
I have registered and logged in still not able to download the afl code?
This may be the issue due to caching. Please clear all cache from your browser with the following step:
- Close the browser completely
- Re-open browser again
- For Google Chrome: Press Ctrl+Shift+Del Keys> Select browsing and download history, cookie, cache for the beginning of time> Clear browsing data OR
- For Microsoft Edge: Setting> Clear browsing data>Select browsing and download history, cookie, cache> Clear OR
- For Mozilla Firefox: Open setting menu> Privacy option> History section> Clear browsing data, cache, download data, cookies of all time
- Now Open www.nascenttraders.com again, directly enter your login details in right side bar
- After successful login, directly go to download menu and click on the download link now you will be able to download
- If still you are not able to download please open contact us page in menu and send your request, we will send you the afl straight in mail.
When I would get the product after I make the payment?
As soon as you make the payment you will be given a product download link. After downloading the product folder, you have to send your system hardware ID to register your product which will take maximum 24 hours. After registration, you will be able to use the product.
What products and services we offer?
MagicTrend Indicator:
This is the only one and powerful product from us. The cost of a lifetime license is just 3500/- INR which is far below its usability. The accuracy of the signal is good in any trending or liquid market including commodity and forex. The MagicTrend Indicator is exclusively the product from nascenttraders.com. You can use it in any timeframe from intraday to position trading and even in swing trading. The product contains a book which provides you the quick training for how to use the MagicTrend Indicator.
Build Your Custom Strategy:
Currently, this is the only one paid service you can get from us. You can watch the details here: Build Your Custom Strategy
Free Blogs, Strategy And Video Tutorials:
You can use other free strategies and blogs on my blog: https://nascenttraders.com/ You can also watch the free video tutorial about trading/investing/strategies/techniques on our YouTube channel Advance Trading Techniques
What is the difference between MagicTrend Indicator and Supertrend Indicator?
There are many indicators which are overlaid on price and looks similar like SuperTrend, SAR, Trailing Stop loss and many more. But the difference lies not in the look but in the calculation. MagicTrend is more sensitive to any abnormal change in price in an ongoing trend and still avoids whipsaw signals in the range-bound market (at least better than Supertrend Indicator). Moreover, it has a Low-Risk Entry feature which is not available In any other indicator of its class. The last thing, the MagicTrend indicator is designed for protecting the paper profit of the trade, on which the Supertrend, SAR and all other Indicator are a poor performer.
Is MagicTrend Indicator compatible with all Amibroker versions?
Yes till date there is no issue found about the compatibility of MagicTrend Indicator with any Amibroker version. We have personally checked the compatibility from all versions from 5.40 to the latest version 6.30 for both 64 bit and 32 bit. If you have any older version of Amibroker and in doubt please send the details to [email protected]
What about the backtest result of custom strategy code?
The backtesting is not included in custom strategy code as per your idea by default. You have to backtest it yourself. Because for backtesting there are many different parameters which are better known by the customer like, the stock selection/position sizing/period of backtesting/margin requirements/commission and trading cost etc. If you need to set backtesting parameter also in the code you have to provide it and will be charged extra.
How to download Amibroker free trial?
You can visit the official website of Amibroker for downloading free trial: www.amibroker.com
or you can directly download it from here:
Does MagicTrend Indicator useful for commodities like crude oil, gold, silver?
Yes. MagicTrend is a trend following indicator and useful for commodities like crude oil, gold or silver, and other commodities which have good liquidity and trading volume. But it is not useful when the market is dull and has very low trading volume.
How can I learn to use Amibroker?
There are many sources on the internet. But we have few free video tutorials which are very simple but still covering the all the important details for how to use Amibroker. You can watch it here. Amibroker Video Tutorials
Does Amibroker provide live market data?
Amibroker does not provide any live market data. You have to purchase live data from other vendors which provides data on a subscription basis.
But Amibroker has an inbuilt free trial of data downloading software called Amiquote, which can download EOD (End of day) data of major exchanges around the world through the free services of Yahoo/Google/Forex(Finam)/Barchart.com/Qaundal etc. If you purchase the license of Amiquote it can also download delayed intraday data from these sources.
Do we have any product for Intraday?
If you are looking for any system exclusively for intraday trading, then I would say no. But we have MagicTrend Indicator which can be useful in identifying intraday trends in 1-min/3-min/5-min charts. It also provides reentry signals in the current trend, so it can be useful for intraday entry on a particular day when the trend is already established. It also has some stock selection features. But still, it is a multipurpose indicator useful for all kind of trading intraday/swing/position etc.
How to download free trail of Amibroker?
You can download free trial version of Amibroker here:
What is the limitation of trial version of Amibroker?
With free trial of Amibroker you can use all the features of registered version for unlimited time. But you won’t be able to save market data so you will have to download the data every time you restart your Amibroker.
Can I install MagicTrend Indicator in TradingView platform?
The MagicTrend Indicator works only with Amibroker so it will not work in trading view.
Which is the correct product for my Amibroker installation?
If you have Amibroker 32 bit (x86) version you can purchase the following:
MagicTrend Indicator Trial 32 bit
MagicTrend Indicator 32 bit Lifetime Registered
If you have Amibroker 64 bit version you can purchase the following:
MagicTrend Indicator Trial 64 bit
MagicTrend Indicator 64 bit Lifetime Registered
What is the best trading method with MagicTrend Indicator?
The default trading system given with NIFTY 15-min (for India) charts traded through the MagicTrend Indicator is best. Just give it a chance of at least 2 months to this system and trade mechanically as per the system. You would see good results after the period. If you are trading outside India trade the index/currency which have the most liquidity and trading volume.
Is MagicTrend compatible for robo trading/algo trading/mechanical trading/auto trading?
Amibroker can send trading orders in Zerodha Pie or any other broker platform with help of pre installed robo trading software. MagicTrend Indicator code is compatible for mechanical trading/algo trading/robo trading/auto trading platforms. It can send buy/sell/short/cover orders in Pie or other broker platform using auxiliary softwares.
Can I use MagicTrend Indicator in Zerodha Pie platform Or any other broker platform?
No. You can not use MagicTrend Indicator in Zerodha Pie. Pie is just a trading platform, it cannot provide you the reliability as with Amibroker. MagicTrend Indicator works only with Amibroker. Amibroker can send trading orders in Zerodha Pie with help of some software. MagicTrend Indicator code is compatible for mechanical trading/algo trading/robo trading platforms. It can send orders in Pie or other broker platform using auxiliary softwares.
What are the methods of payment for custom strategy coding work?
For any payment within India, we provide you link which will enable you to pay through debit card/credit card/internet banking/wallet etc. For internation payment we will send you link of PayPal which will enable you to pay through debit card/credit card/internet banking.
What is support for custom strategy coding after completion?
If you have any trouble in implementing the custom code as per your idea. Then we will take remote control of your system to get them solved. If you needed you can request minor change in code to match your needs limited numbers of time. It is our responsibility to solve any error that you face in implementing the code, provided the source of error is not somewhere else.
What about the privacy of my trading idea, that I submit for building code?
All your original ideas are completely private, unless it already has some other source. The full code will be private for you only. It will not be published or shared to other visitors.
What happens after I submit my idea for custom afl coding?
In few days, you will get a detailed proposal for executing your project which will include all the details of your trading idea in logical format, features of code, payment, completion time and support details.
Is there any paid training program for trading or investment?
Currently we have not any paid training program. But you can watch our free video tutorials for technical analysis, trading and investment in stock market/commodity/forex. It is far better than most of the so called paid training program. They are useful for beginners and even for advanced experienced traders.
Is MagicTrend available for Trade Station or Multi Charts?
No. MagicTrend is exclusively available for Amibroker only.
What is Amibroker and what it is useful for?
Amibroker is a trading software used by traders for technical charting, scanning of stock list based on certain criteria, exploration, alert, design of trading strategies, backtesting with historical data, strategy optimization and generating buy & sell signals. Also useful for saving your trading history and analysis. It also has many fundamental analysis features.
For more details please watch this video: What is Amibroker? Also watch official site of Amibroker for full details and trials.
How to download data in Amibroker?
You can watch the following video for getting the data in Amibroker: How to download data in Amibroker?
Is there any contact number to speak for support?
No. We do not provide any support through phone because we do not have enough human resources who can attend phone calls effectively. Mostly we answer all your question and troubles in e-mail. If necessary we can provide support through remote access of your system. But surely you won’t be disappointed with the support if you are our customer.
Is MagicTrend Indicator available for Meta trader (MT4) or Ninja Trader?
No. MagicTrend is exclusively available for Amibroker only.
Is there any training program for using MagicTrend Indicator?
The product contains a PDF book which provides you the quick training for how to use the MagicTrend Indicator. It contains examples of most of the trading situation that you will come across. It also includes explanation of all the parameters and features of MagicTrend Indicator.
Here are also some videos on our channel which can help you better to understand MagicTrend Indicator.
What is the accuracy of signals in MagicTrend Indicator?
The accuracy of signal is very good in any trending and liquid market including stock, index, commodity, forex and ETF. We have back tested it on NIFTY 50 Index for 15-min chart for last >5.5 years and it is excellent to compare with any other trading system or signals. You can use it in any timeframe from intraday to position trading and even in swing trading. You can watch and download the backtest results on NIFTY 50 index from here:
What is the charge for MagicTrend Indicator?
The Trial version is available from 500/- INR (or $7.5) only for 1-month and refundable if you purchase lifetime license. The trial is full feature without any limitation. The cost of lifetime license is just 3500/- INR ( or $50) which is far below its usability. The accuracy of signal is very good in any trending or liquid market including stock, index, commodity and forex. It is useful in all timeframe including position trading with daily chart, swing trading with 15-min to hourly chart and intraday trading with 5-min charts. If the trading volume is enough than it is also useful for micro time frame like 1-min.
Why we do not provide free trial for MagicTrend Indicator?
The free trials are major source of piracy because it has the least protection against unaurthorized copying. There is only two solution to the problem. It has to be provided with limited features. But it will not able to provide any primary experience of product to prospective customer. That is why we provide only full featured trial for limited period.
How to add an indicator code (afl) in Amibroker?
Just copy the .afl file of the indicator and paste it in the “Custom” folder of your Amibroker installation. For windows machine it would be in the: C:\Program Files (x86)\AmiBroker\Formulas\Custom OR C:\Program Files\AmiBroker\Formulas\Custom
Then open Amibroker then go to “Charts” tab then in “Custom” folder double click on the indicator. It will show you the indicator in the new chart window.
Is MagicTrend Indicator useful for trading forex?
Yes. MagicTrend is a trend following indicator and useful for any forex currency which have good liquidity and trading volume. But it is not useful when the market is dull and has very low trading volume.
How to make payment if I don’t have PayPal account?
PayPal account is very useful for online purchase or making payment or recieving payment from across the world. It is safe, secure, reliable and trusted by most of the businesses. You can create a new PayPal account with the following steps.
- Go to the PayPal website and click Sign Up at the top of the page.
- Select the type of account you would like to open, Personal or Business.
- Provide your email address, create a password.
- Fill your personal information and click Agree and Create Account.
- Then you will be able to pay with your debit card or credit card or internet banking.
How to install MagicTrend Indicator in your system?
After downloading the product folder, follow the below steps.
- First of all right click on the MagicTrend_PluginInstaller_x64_v1520.exe file or MagicTrend_PluginInstaller_x86_v1520.exe (depending on your system), and click on ‘Run as administration’ you will get screen as in the following image.
- Now Copy the hardware ID given in the registration box and send it on e-mail to [email protected] and Press the ‘Close’ button to close the installer.
- Within a day or two you will get registration name and a registration key in e-mail. Keep this mail secure and handy. ( Do not share this key with anyone, otherwise it will be liable for cancellation. )
- Now again run the same installer file as administrator as described above. Now enter the details of your Registration name and Registration Key as provided in the mail. Then you will get message of successful registration.
- Now press ‘OK’ and then you will get a black or white console window, again enter your registration details as requested and press ‘Enter’ on your keyboard. You may get the message of successful installation if everything is right.
- Now you can open your Amibroker normally. Now from the left side “Chart” tab, open the Custom formulas and double click on “MagicTrend_Indicator_1520” formula file. Now you will get your chart with “Magic Trend Indicator” running.
- If you get message of incorrect registration information or get message of installation failure just mail the “OutputLog” text file to [email protected] with description of any other error.For more details go to here. Or you can also read the User’s Guide pdf book for details.
I am not able to open the product folder, It shows error.
Actually it’s a RAR compressed file. If you are unable to extract the files from the product folder. Then download the latest version of WinRAR software from www.win-rar.com Click on the download and then install it. Then extract the files from folder.
How to download free EOD forex data in Amibroker?
In Amibroker window create new database for forex data. Follow the following steps:
File->New->Database
Then write suitable name of the folder in the database folder window e.g. C:\Program Files (x86)\AmiBroker\FOREX
The screenshot for exact setting needed in Amibroker is as under.
Now press OK. Then Go to Tools->Auto update quotes(Amiquote).
Now click on the Amiquote->Edit-> Add tickers Now paste this currency pair sysmbol in the box:
EURCHF,EURGBP,EURJPY,EURUSD,GBPUSD,USDCHF,USDJPY
Now you need to set up for data download, this settings are shown below.
Then click on the green import button. After your amiquote completes importing data. Then go to Amibroker -> Symbols then In the symbol window click on the currency you need to watch
Why am I not able to download intraday data in Amiquote?
Amiquote is a separate software for data only and needs to purchase separately. Intraday data is only available with registered version of Amiquote software. But still you can use free Amiquote for downloading End of day data from Yahoo, Google, Barchart.com, Forex (Finam) etc.
Please understand that even the registered version of Amiquote do not give real time data. It provides you delayed intraday data from different sources. Mostly the delay is around 1-min but it can also be upto 5-15 min depending upon the source. For real time intraday data you have to find other options.
Why can’t I see anything in the chart window even after successful installation?
You can’t see the MagicTrend Indicator because you may not have any data in your chart.
You can also try inserting the price indicator panel from Charts-> Basic->Price. If it is not showing that means you have no data.
Please download some data in your Amibroker to view the chart.
What if I am not able to install the product in my system?
If by all means and instructions you fails to install the product in your system. Then we will help you by taking your system in remote control with Anydesk Or TeamViewer Softwares. We will complete the installation in your system and get you started with the product to your satisfaction.
If you need remote control support please download these softwares from here:
Where is the Risk Barometer Indicator?
The default risk barometer that comes with MagicTrend Indicator is on the top left corner of your chart. Which shows green and red color according to risk. The greater length of green color compare to red color indicates opportunity of buying in line with the trend. And the greater length of red color compare to green color indicates opportunity of selling in line with the trend.
If you want to add separate risk indicator below price chart you can download the Risk Indicator. And insert it below main MagicTrend Indicator chart. It will show you vertical lines (Histogram) to represent risk.