Hi Traders,
I'd like to introduce a new product from the FX AlgoTrader stable (www.fxalgotrader.com)
The FX Index Analyzer is a platform independent real time forex index analysis utility with email alerts and trader defined custom filters.
The beauty of the tool is that it can sit over the top of any windows application which means traders can always keep an eye on the market and observe it from a macro level. The main interface is shown below:-
Here we can see the major currencies and the respective index data across the timeframes. The index is based on LFX index calculations which are calculated in real time on the FX AlgoTrader servers and then sucked up by the client side java utility and displayed on the client interface.
Index values with blue cell background colours indicate a positive gain, red cells indicate a negative gain and white cells indicate no change. Using this approach it becomes very easy to see which currencies are strong and which are weak in relation to each other and accordingly optimized pair selection is hugely improved.
In the screenshot above we can see the USD column is all blue indicating USD strength across all trading timeframes (H1-MN1/hourly-monthly) - we can also see significant weakness on the GBP on the Daily, 4 hourly and hourly charts. Immediately a short GBPUSD trade stands out as worthy of further investigation. As a result of using this index based approach traders can dial into which currency pairs are optimum trade candidates far more quickly than performing the more conventional pair based top down analysis (where traders sequentially go through all the currency pairs they trade from monthly charts all the way down to their preferred trading timeframe)
If the trader clicks the 'Filters' button a new interface is shown below. This sorts the currencies into strenght and weakness order and also shows the trader defined filter controls on the right hand side for each timeframe.
If the trader adjusts the filter controls the system will paint the cell background for qualifying currencies in green as shown in the screenshot below. So essentially for any alerts to be triggered by the system - the currencies must fall within the green area on the strength and weakness table. If one currency falls into the filtered timeframes and is weak and another currency falls into the filtered timeframes and is strong - by default you have a suitable pair created for a potential trade.
When currencies meet the traders defined filters the analyzer displays them in a candidate list in the main interface with the associated trigger time as shown below:-
Traders can also configure yahoo email alerts using the Email Alert function as shown below:-
The Analyzer is a subscription based service which traders can cancel at any time they wish. There are no contract lock ins.
The subscription cost is only $9.95 per month which is less than a couple of pints of beer....
From our perspective this is a tool which no serious FX trader should be without - it allows traders to reduce screentime as it can monitor and alert the trader by email when currency pairs meet his/her filter criteria.
The Analyzer is also excellent for part time traders who may want to keep an eye on the market whilst at work. The Analyzer can be placed on top of any Windows based application - it is resident and sits on top of whichever application it's placed on.
We will publish the index gain analysis each day on this thread so traders can get a feel for the power of this approach.
For more details please visit the Index Analyzer web page. http://www.fxalgotrader.com/Website%...0Analyzer.html
Regards
FX AlgoTrader
http://www.fxalgotrader.com
I'd like to introduce a new product from the FX AlgoTrader stable (www.fxalgotrader.com)
The FX Index Analyzer is a platform independent real time forex index analysis utility with email alerts and trader defined custom filters.
The beauty of the tool is that it can sit over the top of any windows application which means traders can always keep an eye on the market and observe it from a macro level. The main interface is shown below:-
Here we can see the major currencies and the respective index data across the timeframes. The index is based on LFX index calculations which are calculated in real time on the FX AlgoTrader servers and then sucked up by the client side java utility and displayed on the client interface.
Index values with blue cell background colours indicate a positive gain, red cells indicate a negative gain and white cells indicate no change. Using this approach it becomes very easy to see which currencies are strong and which are weak in relation to each other and accordingly optimized pair selection is hugely improved.
In the screenshot above we can see the USD column is all blue indicating USD strength across all trading timeframes (H1-MN1/hourly-monthly) - we can also see significant weakness on the GBP on the Daily, 4 hourly and hourly charts. Immediately a short GBPUSD trade stands out as worthy of further investigation. As a result of using this index based approach traders can dial into which currency pairs are optimum trade candidates far more quickly than performing the more conventional pair based top down analysis (where traders sequentially go through all the currency pairs they trade from monthly charts all the way down to their preferred trading timeframe)
If the trader clicks the 'Filters' button a new interface is shown below. This sorts the currencies into strenght and weakness order and also shows the trader defined filter controls on the right hand side for each timeframe.
If the trader adjusts the filter controls the system will paint the cell background for qualifying currencies in green as shown in the screenshot below. So essentially for any alerts to be triggered by the system - the currencies must fall within the green area on the strength and weakness table. If one currency falls into the filtered timeframes and is weak and another currency falls into the filtered timeframes and is strong - by default you have a suitable pair created for a potential trade.
When currencies meet the traders defined filters the analyzer displays them in a candidate list in the main interface with the associated trigger time as shown below:-
Traders can also configure yahoo email alerts using the Email Alert function as shown below:-
The Analyzer is a subscription based service which traders can cancel at any time they wish. There are no contract lock ins.
The subscription cost is only $9.95 per month which is less than a couple of pints of beer....
From our perspective this is a tool which no serious FX trader should be without - it allows traders to reduce screentime as it can monitor and alert the trader by email when currency pairs meet his/her filter criteria.
The Analyzer is also excellent for part time traders who may want to keep an eye on the market whilst at work. The Analyzer can be placed on top of any Windows based application - it is resident and sits on top of whichever application it's placed on.
We will publish the index gain analysis each day on this thread so traders can get a feel for the power of this approach.
For more details please visit the Index Analyzer web page. http://www.fxalgotrader.com/Website%...0Analyzer.html
Regards
FX AlgoTrader
http://www.fxalgotrader.com
