An Introduction To R For Currency Traders

R is a powerful statistical software that is unlike other expensive statistical software available freely online. If you have taken a course in time series analysis then you should be above to use R and predict the next 5-10 candles. This can help you in double checking your technical analysis. First watch this video that introduces you to R and how it is used in financial trading.

The trick lies in connecting MT4 with R software such that both can communicate with other in real time. MT4 will provide R with the data that it can crunch in real time to make the predictions and then the predicted candles can be plotted on the chart. You can go through this Forex Factory forum post that should open your eyes on how powerful this software can be for you in trading both currencies as well as binaries.