A Forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price and time.The signal is generated either by a human analyst or an automated Forex robot supplied to a subscriber of the forex signal service. Due to the timely nature of signals, they are usually communicated via email, website, SMS, RSS, tweet or other relatively immediate method.
Types of services
Services provided fall into four categories:
- Unpaid/free signals
- Paid signals from one provider whether by personal analysis or algorithmic analysis
- Paid signals aggregated from multiple signal sources or 'systems'
- Signals supplied by trading software located on the trader's computer, also known as a forex robot or EA (expert advisor