How to trade with Trading Central
In the fast-moving world of financial markets, retail traders often struggle to find ways to optimise their trading performance the same way institutional traders can. The reality is, most retail traders simply do not have enough time to scour through all the financial instruments available to trade on - which is more than 8,000 for Admiral Markets users - thereby easily missing potential trading opportunities.
But what if there was a way to access automated analytical tools such as pattern recognition scanners, actionable technical analysis of different financial instruments and up to date trading ideas all created by a blend of one of the world's most intuitive algorithms and human analysts - saving you time, energy and focus?
With the Admiral Markets Supreme Edition plugin, you can now access all these features in partnership with Trading Central. In this article, you will learn who Trading Central is and how you can access their automated analytics and analyst research directly from the Admiral Markets trading platform completely free. We will cover how you can use Trading Central's platform tools such as their Featured Ideas™ and Technical Insight™ indicators to help improve your trading methodology and trading decisions starting today. Let's begin!
What is Trading Central?
Trading Central is a global fintech leader which was founded in 1999, whose aim is to help investors make better trading decisions. It achieves this by fusing together analyst research with automated analytics such as pattern recognition trading software on a wide variety of markets and in multiple languages.
Before we go into detail on how to use the Trading Central indicators, read the next section to learn how you can access the Trading Central platform which will also be useful in later sections to follow examples and instructions in real-time.
How to access the Trading Central platform
Did you know that the Trading Central cost is completely free for Admiral Markets users? In fact, you can use it in both the MetaTrader 4 and MetaTrader 5 trading platforms provided by Admiral Markets for free. To get started, just follow these simple steps:
1. Download the MetaTrader 4 or MetaTrader 5 trading platform for Windows or Mac from the Admiral Markets Trading Platforms page, as shown below:
2. Then download the free MetaTrader Supreme Edition plugin for Admiral Markets to boost your trading experience by getting free access to the Trading Central indicators, as well as other advanced bonus features such as a large indicator package which includes Pivot Points and Renko charts, as well as a Mini Terminal to access advanced order functions and much, much more.
Watch this video to learn more on how to download and install the MetaTrader 4 Supreme Edition plugin:
3. Once these are downloaded open your MetaTrader trading platform and open a new chart from the top tabs by selecting File -> New Chart on any instrument available, as shown below:
4. Once the new chart is open, the next step is to open the Navigator window. This can be done from the top tabs by selecting View -> Navigator or by pressing Ctrl+N on your keyboard, as shown below:
5. This will now open the Navigator window, as shown below. You will notice there are a lot of advanced indicators that have been specially created for Admiral Markets users of the Supreme Edition plugin - all for free as well! Now let's add on the Trading Central indicator in the next step.
6. From the Navigator window click the + icon next to Expert Advisors, this will open up a list of options seen in the screenshot below:
7. From the Expert Advisors window, simply drag the 'Admiral - Connect' line on to your new chart. After pressing OK in the confirmation box that opens up, you now have access to the Trading Central indicators called Technical Insight™ Lookup and Featured Ideas™. You also have access to other bonus tools from the Supreme Edition plugin such as a live news feed, economic calendar and trade analysis section, as shown in the screenshot below:
Now you have access to the Trading Central indicators directly from your MetaTrader trading platform provided by Admiral Markets, let's review each of them to see what they do, how they help and how to incorporate them into your trading.
Trading Central review: Featured Ideas™
A screenshot of the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets showing the Trading Central Featured Ideas™ indicator.
The Trading Central Featured Ideas™ indicator helps traders to monitor market movements across a wide variety of currency pairs. Users can customise their settings to tailor the indicator based on individual preference regarding holding timeframes, bar sizes, technical chart patterns or preferred currencies. After clicking the 'Custom Settings' icon located at the top right of the chart, the following window will open:
A screenshot of the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets showing the Trading Central Featured Ideas™ indicator, custom settings window.
From this window, users can customise their settings in a variety of ways, such as through:
- Currency pairs - select your favourite currency pairs to find trading ideas on.
- Bar sizes - select the chart timeframe you want to find trading ideas on.
- Holding timeframe - select the desired timeframe for holding trades.
- Charts/technicals - select the different technical analysis filters you are most interest in trading on such as Bollinger Bands, MACD, Candlestick Patterns, and more.
Once these have been selected, the Featured Ideas™ window will show a selection of currencies that meet some or all of the criteria selected in the custom settings window.
A screenshot of the Trading Central Featured Ideas™ actionable currencies taken from the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets.
In the example above, you will notice some currencies say Bullish, Bearish or Target. Let's take a look at each of these to see what kind of detail Trading Central provides.
Trading Central Featured Ideas™: Bullish example
A screenshot of a Bullish Featured Ideas™ example, taken from the Trading Central indicator from the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets.
In the Featured Ideas™ window, Trading Central details exactly what was found by its pattern recognition software and human analysts by listing the key technical analysis items on the right side of the platform.
In the example above, the indicator found a 15-minute Outside Bar candlestick pattern with an oversold Stochastic Oscillator that is in oversold territory. This fits into our previous selection of tools in the custom settings window. The indicator also details when the pattern was found and how long the outlook could remain bullish.
Trading Central Featured Ideas™: Bearish example
A screenshot of a Bearish Featured Ideas™ example, taken from the Trading Central indicator from the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets.
In the example above, the indicator found a 1-hour Inside Bar candlestick pattern with price crossing below its 21-period moving average. This fits into our previous selection of tools in the custom settings window. The indicator also details when the pattern was found and how long the outlook could remain bearish.
Trading Central Featured Ideas™: Target trade example
A screenshot of a Target trade example in Featured Ideas™, taken from the Trading Central indicator from the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets.
In the example above, the indicator found a 15-minute Double Top chart pattern with a fast-moving average crossing below a slower moving average. In this instance, the Trading Central indicator also gives a target price level for the trade and a timeframe the pattern is valid for.
Trading Central performance and how to trade it's Featured Ideas™
It's important to note that the Trading Central performance of its indicators is largely dependent on the user and where they choose to enter and exit. The indicators merely provide an idea that has no guarantee of future results. This is why combining what Trading Central provides with your own analysis and experience can be a powerful combination.
For example, if you already have a bullish or bearish view on a market, you could select those particular markets in the custom settings window to find technical analysis occurrences which confirm your bias.
Other traders may start the other way and first look at the suggestions in Featured Ideas™. From here, traders may then analyse the overall picture with their own form of analysis and experience before agreeing or disagreeing with the Featured Idea.
While neither scenario will guarantee future success both can provide an extra 'edge' to your trading which is what every trader is ultimately searching for.
Trading Central review: Technical Insight™
The Technical Insight™ indicator from Trading Central offers actionable, technical analysis for a wide variety of asset classes such as Forex, Stocks, Indices, Commodities and ETFs. This makes it an ideal tool for the multi-asset class trader searching for detailed and proactive analytics.
A screenshot of the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets showing the Trading Central Technical Insight™ indicator search box.
To search for a market, users can simply type in the name of their instrument in the search box. Let's take a look at examples when searching for currencies and stocks.
Trading Central review: Technical Insight™ for currencies
In this example, we will search for the currency pair EUR/USD, as shown below:
A screenshot of the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets showing the Trading Central Technical Insight™ indicator for EUR/USD.
At first look, there is a lot of information available for traders to analyse. This includes a short-term, intermediate-term and long-term trend outlook depicted by green up arrows or red down arrows located above the chart, as shown below.
A screenshot of the Trading Central Technical Insight™ section taken from the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets.
When users click on one of the trend outlooks the chart below automatically shows evidence of that bias. For example, the intermediate-term outlook for 6 weeks - 9 months is bullish, as shown by the green arrow in the example above. If we click on this icon, the chart underneath it will show the evidence of this bullish status:
A screenshot of the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets showing the Trading Central Technical Insight™ indicator for EUR/USD.
The bullish events are listed as green dots on the price chart of the market being viewed so traders can easily see what happened to price during that event. The events are also listed on the right side where traders can also click the grid view to view the events in a grid format, as shown below:
A screenshot of the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets showing the Trading Central Technical Insight™ indicator event grid for EUR/USD.
Trading Central review: Technical Insight™ for stocks
In this example, we will search for the stock Apple, as shown below:
A screenshot of the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets showing the Trading Central Technical Insight™ indicator for Apple.
While users can access the same functionality as for currencies, shown in the example beforehand, there are some additional features uniquely for stock traders. To access these simply click on the Computer Hardware sector name under the Apple name, as shown below:
This will then open another window where users can actually use a stock scanner which offers a variety of filers to scan for, including:
- Market capitalisation - the total market value of all of the company's outstanding shares.
- Columbine Capital Quant Rank - a proprietary stock ranking methodology developed by Columbine Capital.
- Technical events such as:
- Classic patterns
- Candlestick and bar patterns
- Indicators, and more.
You can see all the options on the left side of the trading platform:
A screenshot of the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets showing the Trading Central Technical Insight™ indicator stock market scanner.
For example, selecting classic patterns on the daily chart produces a wide variety of different stocks that are showing any one of the vast classic patterns the indicator scans for, as shown below:
A screenshot of the MetaTrader 5 Supreme Edition trading platform provided by Admiral Markets showing the Trading Central Technical Insight™ indicator stock market scanner filtered for daily classic patterns.
Trading Central performance and how to use it's Technical Insight™
Trading Central's performance of its Technical Insight™ is largely dependent on the user and where they choose to enter and exit. The insight provided provides a fast and efficient way to see all the different technical analysis occurrences happening in a particular market. Combining this insight with your own form of analysis can be a powerful combination.
For example, if you already have a bullish or bearish view on a particular market, you can look at the particular instrument in the Technical Insight™ indicator to see the technical analysis occurrences that match your bias. Furthermore, stock traders can use the stock market scanner to identify other stocks in the same sector that may also present interesting technical analysis opportunities to trade on.
Traders can also start by looking at the Trading Central Featured Ideas™ indicator to identify potential instruments to trade on and then use the Technical Insight™ window to further analyse those instruments. Either way, the power at your fingertips provided by Trading Central through Admiral Markets' Supreme Edition plugin for the MetaTrader trading platform is unrivalled!
Did you know you can test all of these features completely free by opening up a demo trading account? Not only can you see the power of these tools and how they could help you make better trading decisions you can also execute trades in a virtual trading environment until you're ready to start trading live. To open your free demo trading account, simply click on the banner below:
Why use Trading Central with Admiral Markets?
With Admiral Markets, you can:
- Use leverage of up to 1:500 for Professional clients and up to 1:30 for Retail clients. This means you could control a large position with a small deposit. You can learn more about the benefits and risks in the 'What is Leverage in Forex Trading?' article.
- Trade with a well-established, highly regulated company including regulation from the UK's Financial Conduct Authority, the Australian Securities and Investments Commission, the Cyprus Securities and Exchange Commission and the Estonian Financial Supervision Authority.
- Access the fastest and most secure trading platforms from MetaTrader for PC, Mac, Android and iOS operating systems.
- Supercharge your trading platform with the Admiral Markets Supreme Edition plugin which comes with a full suite of advanced trading tools and indicators from Trading Central.
- Benefit from our negative balance protection policy for peace of mind.
Feel free to open a demo trading account and explore our features and services for yourself, completely risk-free! Opening an account just requires a name, email and phone number, as the demo account opening page shows below:
Once confirmed, you will receive instant access to your very own Trader's Room, as shown below, where you can open demo trading accounts, live trading accounts and access platform downloads, customer support, trading tools and much, much more.
If you're feeling inspired to start trading, or this article has provided some extra insight to your existing trading knowledge, you may be pleased to know that Admiral Markets provides the ability to trade with Forex and other asset classes, with the latest market updates and technical analysis provided for FREE!
You can start the account opening process here, or watch the video below on how to open a live trading account with Admiral Markets.
About Admiral Markets
Admiral Markets is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world's most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or recommendation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.