The Paid Indicator Scam

The sale of repackaged or renamed technical indicators, often referred to as “scam indicators,” is a common tactic used by some unscrupulous individuals in the trading industry. These individuals may take a widely available and freely distributed indicator, such as the Super Trend indicator, and repackage it as a proprietary tool with a new name that ends in “algo.” They may then sell this “new” indicator to unsuspecting traders, often at a high price, claiming that it is a unique and valuable tool that can provide superior results.

However, in reality, these “scam indicators” are often nothing more than repackaged versions of freely available indicators with little or no added value. The individuals selling these indicators may not have any real expertise in trading or programming, and may be more focused on generating income from sales than on providing a useful and effective product.

It is important for traders to be aware of this scam and to carefully evaluate any indicators or trading tools that they are considering purchasing. It is a good idea to do your own research and to be skeptical of any claims that seem too good to be true. It is also a good idea to seek out independent reviews and opinions from other traders before making a decision. Ultimately, the most effective way to improve your trading skills is to develop a solid foundation of knowledge through education and practice, rather than relying on the promise of a quick fix or “secret” tool.