The sentiment indicator shows and measures the percentual ratio between both sellers and buyers. As a result of the indicator, it is possible to readily see the current leadership and strength of almost any marketplace. The sentiment indicator may be used specially at a conjunction with other trading signs and techniques to filter out false entrances. The indicator can be useful for leaving of opened orders as well. Forex Trading Strategy “Pullback” work with trend direction.
How to Trade with the Forex Sentiment Indicator:
Possible BUY trades:
Power of buyers 60% = light dominance of buyers
Power of buyers 70% = clear dominance of buyers
Power of buyers 80% = most of the market participants are buyers
Power of buyers 90% or more = strong dominance of buyers, almost no sellers in the market
Possible SELL trades:
Power of sellers 60% = light dominance of sellers
Power of sellers 70% = clear dominance of sellers
Power of sellers 80% = most of the market participants are sellers
Power of sellers 90% or more = strong dominance of sellers, almost no buyers in the market.
Some of these indicator points are as follows.
Easy to use and highly effective Sentiment indicator.
With this Sentiment indicator, you will be able to easily measure the strength of buying and selling market participants.
The Sentiment indicator will simply tell you what is currently happening in the market.
Useful for all markets (forex, commodities, stocks, indices and others) and any time frames.
Compatibility: MetaTrader 4 .