XProfuter is an indicator I came across on the FXfisherman site. And whilst I am not sure it is of much use I know that alot will like this sort of “predictive indicator”.
Although a few traders seem surprised that it is a repainting indicator, I guess that is the benefit of the indicator. It is designed to contantly show a predictive path based on what is happening. This means if the indicator is pointing up and the market starts to drop it will recalculate the predictive line.
Whether or not Xprofuter is an a viable indicator I am not sure. Quite a few rate it on the 1hour time frame. This would suggest that it is capable or showing the current trend but I am not sure that is so tough to do without an indicator.
Below is an a screen shot of the Xprofuter indicator on a 1 Hour GBP/USD
The indicator also comes in a version which instead of overlaying on the chart you can add a separate indicator window. Although I would not rely on it for backtesting as the signals you see historically may not be the ones you would have seen in real time initially.
These are some settings which were suggested to try. On th chart above I used 14/1.
EUR/USD : value : 11 or 12
EUR/GBP : value : 10 or 11
USD/CHF : value : 24
GBP/USD : value : 20 0r 21
GBP/JPY : value : 19 or 20
Do check back and I will post the resulting chart of this signal and we can see how accurate it was.