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NEW FOR 2011 *** WAS $149.95/annum |
| Trading Style: | Intraday |
| Trading Experience: | All levels |
| What does it do in a nutshell? | It allows a trader to see the forex market at a macro level, which pairs are trending, which pairs are ranging and where the best opportunities in the market lie. It's essentially a laser guided pair selection tool. |
| Why is it useful? | It allows traders to focus on pairs which market participants are focusing on ie where the best opportunities are! |
A LASER GUIDED PAIR SELECTION TOOL
AN ESSENTIAL PRE-TRADE ANALYSIS TOOL
SEE THE WHOLE FOREX MARKET AT A MACRO LEVEL FROM A SINGLE MT4 CHART
The Metatrader/MT4 indicator analyzes the achieved daily range for the 24 forex currency pairs in real time and produces a histogram of the achieved range compared to the pair's average true range (ATR) for the last 14 days.
The Analyzer provides forex traders with frequency counts for new highs and lows which provides highly indicative forex trend data essential for intraday fx pair selection.
The forex pairs are grouped logically which allows a speedy assessement of the relative currency strenghts across the major forex pairs.
The multi-pair currency range analyzer is fully configurable and allows traders to create their own custom analysis forex candidate pool.
The FX AlgoTrader Real-Time Multi-Currency Daily Range Analyzer provides a unique multi-currency daily range overview for 24 forex currency pairs on a single chart pane.
Using the multi-currency range analysis provides forex traders with the following trading advantages:-
- Real time range histograms for macro level market overview (expressed as a percentage of ATR)
- Ability to assess macro level market sentiment (eg CAD strength in example below) from a single forex chart
- Ability to see immediate indicative trend for multiple forex pairs
- Ability to view new high/low change frequency enabling optimized trading pair selection and direction
- Average high/low change frequency over last five periods provides supporting data about momentum
- Daily RSI data for all forex pairs
- Daily ATR range data for all forex pairs
- Configurable alert system when high/low change frequency is greater than specified threshold
- Configurable alert system when average high/low change frequency is greater than specified threshold
- High/Low frequency change reset option on new bar detection
- Remaining available pips data - based on pair acheiving 100% of ATR value
- Auto account detection for micro and mini accounts
- Missing chart data alerts and bypass logic
Demo Video 1 - 06/05/11
Demo Video 2 - 06/07/11
Screenshot of the Range analyzer showing CAD strength 11/01/11 c.08:20GMT. Note: CADJPY High Frequency count is noticeably higher than low frequency count indicating CADJPY is trending up (CAD strength). Low Frequency count on GBPCAD ,EURCAD & USDCAD is higher than corresponding high frequency count. Overall picture is CAD positive.
Screenshot of GBPCAD chart displaying non discretionary enty and discretionary entry. Be aware that the analzer indicates immediate strength based on frequency differential between new highs/lows. You should not take the analyzer output in isolation as a trading signal. It should be used in conjunction with proper forex trade entry principles. The non-descretionary entry above was not well timed as the market subsequently retraced to retest the previous support level which then became resistance. A discretionary trade was placed at 1.54452 which went straight into profit. A discretionary approach will substantially reduce risk.
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WAS $149.95/annum |
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