Recently, trading using market sentiment is gaining popularity.
Today I have prepared for you an indicator that displays the SSI (Speculative Sentiment Index) directly on the chart of the MT4 terminal.
The ratio of Long and Short is determined by a unique formula and takes into account data on the client positions of several large brokers. Also in the formula there is an adjustment for the time parameter, which makes the value of SSI more volatile.
Available currency pairs: 32+
New data: every 5 minutes
How to trade?
Set your preferred signal level in the indicator settings.
The default value is 40. In this case, if the value of SSI is less than 40, Long trade is recommended, if the value is more than 60, Short trade recommended.
Grading of signals:
35 - rare signals indicating an established trend.
40 - 2-3 new signals per week. The signal is suitable for medium-term positions.
45 - Frequent signals. Direction of market sentiment may vary throughout the day.
Important. The indicator should not be used to determine entry and exit levels. It gives only a vector of possible movement. Use your main trading system to determine the entry point and the levels of SL and TP.
Indicator Settings
Show Symbol. Choose one of the options: Current Symbol - the currency pair is automatically determined. Defined Symbol - manually specify the required currency pair in the “Defined Symbol“ field. Input Format: “EURUSD”
Signal Ratio (1-49). Sensitivity of a signal. The larger the number, the more often the indicator produce signals and vice versa.
Server Time Offset. Set the correct time zone so that the time of the last update matches your local time. Auto - shows the terminal time.
Color Scheme. Choose between a light or dark indicator panel.
Indicator Position & Offset. Indicator position (corner) during initialization and panel offset from the edges.
Update Interval – Min. once every 5 minutes. You can also update the indicator manually by clicking on the “time” field in the panel of indicator.
Features
Manual Update:
Drag:
Auto Colors:
Indicator Installation:
1. Download and unzip the archive to the MQL4 folder of the terminal;
2. Restart the terminal and run the indicator;
3. Allow import of DLLs.
This SSI indicator is free and works without any restrictions.
Updates
01.10.21 - MT4 1345 build compatibility.
Download Link:
Latest Version: 1.07
is it posible to make a light SSI version showing changes overtime?
