Hi all Forex Traders,
I am glad to show you the new tool I coded.
The Probability Meter. This great tool will give you 100% confidence and trade without stress. No lines, no histograms to watch ...
Whatever your trading style, you always need to know if you trade in the
right direction. The Probability Meter will show you not only the way but the
strength of this direction.
After observing this tool, you will be able to define
the end of the current trend and
the start of the reverse. All the values will show you the way!!!
<--- Tiny or Standard Box ---> 
It can be used on any timeframes and on any of these 19 pairs:
EURUSD-GBPUSD-AUDUSD-USDJPY-USDCHF-USDCAD-EURJPY-EURGBP-EURCHF
EURAUD-GBPJPY-GBPCHF-AUDJPY-NZDUSD-NZDJPY-AUDNZD-CHFJPY-EURCAD-AUDCAD
The first 3 Meter values aren’t based on any timeframes and will be the same on M1 or H1 for example.
The 4th and 5th values are based on the current timeframe.
The global result in percent (%) will be different if you switch between TFs.
Here is an example of live trading board (12 resized charts):
Parameters settable by users:
- The parameters of the 2 additional indicators (MACD and Stoch)
- The position of the box on your chart
- The colors of the 5 indicators and text
- Choice of a small box with only values instead of the big one
- An alert option (pop up or email) is also available at a settable % of probability
How to decrypt the Probability Meter values?
All values and colors have to be watch closely.
- 1. Multi-Info+ : more than 75 (red/green) for strong Up/Down trend
- 2. Indice Strength : 0-1-2 for strong Down trend, 7-8-9 for strong Up trend, 3-4-5-6 for sideway
- 3. Currency Pair Range : range of 5 or more between the 2 currencies. Example: 7-2, 9-3 etc for a strong Up trend, 0-5, 2-8 etc for a strong Down trend
- 4 and 5 : red color for Down trend, green for Up trend and Orange for sideway
The global value in percent (%) has to be watch closely and with experience you will have feeling. This value is the combination of the 5 values listed above. 75-80% is a good point for trigger a trade.
Example how i trade with it: attach the Meter on M15 and the 2TFs below (M5 and M1). First, the 2 additional indicators on the 3 TFs must agree. Then watch the numbers of the 3 others indicators (doesn't matter which TF because the number will be the same). If these numbers are about the ones i suggested in the explanation above, then the Global % would be close to a good entry point. 75% seems to work well but with experience we'll all find our % which we are confortable with.
For exit, when you'll see that the Multi-info+ start to reverse on the 3 TFs. It's the one react the most quickly.
Want to be a real successful trader? more info here ... and you'll catch the next trend!!!
Feel free to
contact me if you have any question.
I wish you a lot of pips.
FerruFx
