Forex Market View Dashboard and CSM
- Utilità
- Opengates Success International
- Versione: 2.5
- Aggiornato: 7 settembre 2022
- Attivazioni: 10
FFXMV Dashboard + CSM is a custom indicator combined with Currency Strength Meter. It is created to give the Traders a full view of what is going on in the market. It uses a real time data to access the market and display every bit of information needed to make a successful trading.
Before attaching this Indicator to your window chart, go to your MT4's Market Watch panel and HIDE all the Currency pairs you don't need or trade and leave the rest there. The reason is that FFMV Dashboard will DISPLAY ALL the Currency pairs that appear in MT4's Market Watch. it can display up to 30 currency pairs or less. If it is more than that in your MT4's Market Watch, it will blur and disfigure the fonts and images on the FFMV Dashboard! It won't display correctly.
USAGE:
- For Solo Trading
- For Basket Trading (See the screenshot on how)
- To confirm the signals received from your Trading system
COMPONENTS:
- Impacts: The magnitudes of the currencies' movements and volatility as shown here => Build-up, Good, High, Strong, Very strong and Excellent
USING THE DASHBOARD:
- All Time frames from Minute 1 to Monthly must agree together except the M1 time frame i. e It is either all the arrows are Green for buy signal or Red color arrows for sell trade consideration
- Trend must tell us if the trend's direction has been established - Bullish/Bearish
- Signal display the type of trade we are to expect to take when ready - Sell Now or Buy Now
- Impact must show EXCELLENT as the best impact to consider
- Changes must be positive or at least be from 0.00 upward. Must not be negative EXCEPT all other signals agree together for a direction which means that the currency is in a state of RECOVERY, it may be traded
- Rates must be 100% but any currency that rates 60% upward is good enough for a trade
- Trade is the focus factor, once it gives currency name, then it is ready for further trading consideration
WHAT NEXT?
After a trade signal from Dashboard, we must further consider these two factors:
Support and Resistance Levels: These are powerful levels which determine if a currency's movement will break or bounce back because these are the areas of great struggles between the Buyers and Sellers. Therefore after getting the signal, go to the chart of the currency concerned and visualize it from higher time-frame - H1 upward to find out if the currency is not at the support or resistance level. Identify and draw a line at either of these levels, wait to see if price will break the level or bounce and if it breaks OR the currency is far from any of these points, then you are good to go, then the next factor...
2. Forex News: Forex news must be avoided especially a medium or High impact news on any currency pair. Before entering any trade even after a sure signal from the Dashboard, take time to check the Economic calendar on a Forex News Website. If there is an high impact news on such currency pair, drop the currency pair. However, if the news has been released long before you got signal from the Dashboard, then it is supposed to be a good trade because it means that the end-resultant effects of the news is working to our favor.
Aside these two factors, nothing to fear, go straight and place your trade when you get a sure signal from the Dashboard. Just be sure all the Dashboard components agree together as instructed here.
***Currency Strength Meter is a PORTABLE Currency Strength Meter created to measure/analyze currency strength or weakness and pass the information to the trader through a graphical display of each currency group's strength rates by percentage. To be used in Conjunction with the Dashboard for great results
HOW TO USE IT EFFECTIVELY
Solo trading: Can be used for solo trading by analyzing the strength of each group of currency. Take for instance: if USD group is having rates less than 30% and EUR Group is having rates greater than 60% or there about, you can just pick EURUSD for trading since both of them have the currencies concerned in the rating.
Buy a strong Currency against the Weak and SELL a Weak Currency against the strong. Placing them together is a good idea of trading to get results. There is a good probability that you will always almost get it right without issues.
Try with demo to practice it. Getting same signal from both CSM and Dashboard gives major reliable signal to trade (see screenshot for example).
Good tool, Good support.