Hi all Forex Traders,
I am pleased to show you the new tool I coded.
The Heart of Forex. This great tool shows the real current price move for all TimeFrames. Display up to 26 pairs and 9 TimeFrames on the same chart. With only one eye, you'll be able to watch, compare all similar pairs and then see if they agree for the same direction. You no longer need to switch between pairs and TimeFrames.
This tool is based only on the price move. No indicators or any others tools are used for the calculation of HoF. Only Price Action.
Whatever your trading style, it's very important to know if the price move is a small isolated one or if the correlated pairs move all together. The more the similar pairs agree, the more the move is real and good for catch some pips.
After observing this tool, you will be able to define which similar pairs move together for a strong move.
<--- Full board or only selected pairs and TFs --->
It displays up to 26 pairs and 9 timeframes:
EURUSD-GBPUSD-AUDUSD-USDJPY-USDCHF-USDCAD-EURJPY-EURGBP-EURCHF
EURAUD-GBPJPY-GBPCHF-AUDJPY-NZDUSD-NZDJPY-AUDNZD-CHFJPY-EURCAD
AUDCAD-CADJPY-EURNZD-GBPAUD-GBPCAD-AUDCHF-NZDCHF-CADCHF
M1-M5-M15-M30-H1-H4-D1-W1-MN
You don’t need to apply more than one HoF. It displays ALL selected pairs and ALL selected TFs on the same chart regardless which chart or TF it’s apply on.
Here is how it looks with some selected pairs:
Parameters settable by users:
- All text and square zones colors
- The timeframes you want to display
- Set a k to apply for each timeframe. In other words, increase the k numbers for the TFs you want give more importance
- The pairs you want to display
How to decrypt the Heart of Forex ?
5 different colors according to the current price move on a specific TimeFrame:
- BLUE : strong up move for this TimeFrame
- LIGHT BLUE : up move for this TimeFrame
- YELLOW : move is flat for this TimeFrame
- ORANGE : down move for this TimeFrame
- RED : strong down move for this TimeFrame
The values from -100 to +100 at the top of each column are strictly an average of all displayed TFs for a given pair. You can give more importance to some TFs by setting a k coefficient in the input parameters.
This k coefficient is very important according to your trading style. If you usually trade high TFs, you'll give more importance to these high TFs by setting a higher k. For those who like lower TFs (ie for scalping), then set a higher k for these small TFs.
Want to be a real successful trader? more info here ... and you'll catch the next move!!!
Feel free to
contact me if you have any question.
I wish you a lot of pips.
FerruFx