Rekon Xs and Market Scanner for Spot and Binary Options

City vs AIG: City is stronger than AIG

City is stronger than Aig and Amazon

Amazon is stronger than ebay

Both instruments are on buy, suggesting Market interest on stock buying and selling forex.

AIG is strong at the moment lets see if we get any trade.

So, today also I will be trading based on pending orders on my favourite pairs, calculation I have already posted.

My thread activity will be very less in next 7 days, my target is to roll-out the most awaited update on "Multi Time Frame Analysis of Instruments". The objectives of releasing this update will be as below:

A. One View of all Time frames strength of 24 technicals or the 3-Sets of technicals (1. Trend, 2. Volatility, 3. Strength and Weakness).
B. Complete elimination of MT4 charts reading.
C. Preparing the future base of trading when you at office
D. This will be an addition with all present features intact.
E. Specially for Binary and same effective for spots.
F. Once it is released forward testing phase will be initiated.

Market Scanner v 1.03

This update is all set to roll-out. The objectives of this release are as below,

A. Removing OWA dependency, so it means we can skip the additional installation steps from now on and with Excel default feature we are good to run the Market Scanner App,

B. Multi Time frame Analysis part will be easier now with this update, framework wise it is now better.

Market Scanner v 1.04

This part is going to be the most exciting part of this entire development phase and first time we are going to see the Multi time frame analysis for the instruments.

Due to my office related projects I will be travelling in next 3-4 weeks and will be developing the features at the same time, I want to release this as soon as possible but it might get a bit delayed as well, lets hope for the best.

Multi Time Frame Analysis : preparing the stage of looking at the market as "One View"

* Trader A sees EURUSD trade as sell in H4.
Trader B prefers trading in smaller time frame, he sees the opportunity of buying EURUSD before the Trader A sees the selling opportunity.

* Trader A is waiting for a good entry in H4, he wants the price to retrace up a bit and atleast the price tests R1 resistance, so that he can go for "With Trend Entry" and can go with the best odd.

Trader B closed his buy trade @ near the pivot level of price, and waits for selling opportunity doing counter.

As a reader, which trading style you like?

* Trader B is trusts on his skill of feeling the Market pulse correctly and can do counter trend confidently.

Trader A is trusts on his patience of getting less risky and high rewarding entry.

* Trader B trusts his skill and has very good win rate, he considers taking some risk for high reward, he starts taking trades on binary options and find it suits him best.

I'll go with trader B if he does not allow greed to murder Him.

Multi Time Frame Analysis : preparing the stage of looking at the market as "One View" (...contd)

* Trader A generally takes trades based on H4 and above and monitors support / resistance levels, supply / demand levels continuously. He starts building his position when price strikes the first level of S/R, he counts it as "1" and initiate the first position, similarly as price continues striking the S/R and count increases from 1 to 2 and so on Trader A continue incrementing the position size.

eg. for 2nd strike on s/r he adds another position of x*0.20 , for 3rd strike he adds another position of x * 0.30

He puts the stop on Monthly S/R + 10 pips, and Take profit on H1 pivot, M30 S/R points etc.

* Trader B prefers quick entry and exit and takes trade based on M15, M30. He monitors S/R points on M5 to H1 and place TP and Stops likewise.

Both are doing good using MTFA. Let us know if you find problem with their technique.

Multi Time Frame Analysis : preparing the stage of looking at the market as "One View" (...contd)

MTFA can be applied for both "With-Trend" and "Counter-Trend" entry. Traders often get confused which time frames to select and how to look at. In my opinion you need to follow a simple calculation and should not confuse your mind.

So if you are looking at M5 for entry then M5 is the lowest time frame you selected, to exit simply multiply it by 4, so M5 * 4 ~ the next higher Time frame you have is M30.

Enter in the market with M5 signal and Exit from the market by reading M30 fib levels.

Apply the same calculation on your preferable time frames.

Anybody trading with Market Scanner pls.

Contact Me on Skype so we trade together by forming a skype group for the software. I am still struggling to use this to trade.

Skype: favoured111

Thanks for replying

Market Scanner Application will have MTFA feature in v 1.04, this time I will be making a complementary free version of this App. Objective is to have more users with zero investment so that they can join actively in the discussion of Multi Time Frame Analysis for trading both spot and binary.

This approach might need closing this thread and moving to a discussion forum. I will let all know once I finish the development.

Thanks.

Version 1.04 is all set to rollout this week, most probably by this sat-sun days. It seems a slower one than the previous but we will be trading on higher timeframes and minimum of M30 and will be able to see all timeframes starting M5 to Monthly at once.

Well, this version is promising to clear all doubts about MTFA. I am happy to see the results and there is simply no other tool available for free to give such nice analysis.

Just want to add this is not for the people who want signals and free trades, this is only for the traders who has a sound mindset for analysis.

A better view: tomorrow will do a final review on all technicals and overall programming may be later in the evening I will be sending out the App.

With MTFA approach we will have an advantage of catching big trends. Here I took EURUSD, EURGBP and GBPUSD , we can see Weakness or trend reversal signs in E/U very easily (look at the MA series), it was a buy but losing buy interest as time progresses. Sellers got good entries for sell around 1.39 levels (read the fib levels).