Ever heard of a trend scanner? It is quite common to use trend scanners in equity trading. What is a trend scanner anyway? A trend scanner is a piece of software that analyzes stock charts and looks for certain chart patterns. You can program a scanner to look for almost any pattern available such as triangles, flags and wedges. To my knowledge most scanner are applied to stocks and equity products, but there is also scanners that are available for forex currency pairs as well. There are forex indicators that can scan any number of pairs on all time frames and deliver only those that are in trend. You can do it manually too, but having all that done with a click of a button is a lot easier and can save a lot of time. Most traders look for forex signals that are with the trend, so to have a scanner that identifies trends automatically makes trading that much easier.
