In this post I will be reviewing the Forex Heat Map trading tool which shows you currency strength and weakness on your MetaTrader 4 charts. Statistics show that when using currency strength and weakness analysis, your success rate can increase to 92%! This forex trading tool would work well alongside the best forex indicator – Forex Market Sentiment – as you would have a great overview of a currency strength and weakness. The Forex Heat Map is a unique trading tool, it is rare that I see a forex indicator which uses the concept of currency strength and weakness which is sorely overlooked despite being a very important aspect of deciding when and where you should be placing your trades. Forex Heat Map will analyse 28 currency pairs in real time and presents the strengths and weaknesses of individual currencies in a simple, graphical form. This is a great forex trading tool!
Forex Heat Map Features
The Forex Heat Map forex indicator can be used for any currency pair and on any timeframe which makes it suitable for all forex traders whatever your preferred style is – scalping, swing trading, day trading, etc. The Forex Heat Map can be used stand alone straight out of the box or in unison with your own forex trading system. It is highly customizable, you can place it anywhere on your trading charts and change the color, fonts, background, etc. Forex Heat Map will work alongside any other indicator without interference. When placing the Forex Heat Map on a chart, you can quickly assess which of the currencies are the most purchased and which ones the most sold. The Forex Heat Map indicator is updated in real time, so you can always be sure the chart shows the latest data for all of the currencies. If the Forex Heat Map shows that the market is interested in selling AUD (weak currency) and purchasing JPY (strong currency) at the same time, our trade should take place on the AUD/JPY pair. Forex Heat Map will tell you which currencies to avoid if they are neutral, this will make sure you avoid choppy and potentially dangerous market conditions. By using the Forex Hear Map to identify the strong and weak currency pairs, you can be sure that there will be some nice trends for you to jump into. It can also be used to filter out your own forex trading signals if you are unsure.
Forex Heat Map Summary
Overall, the Forex Heat Map is an excellent concept that is very easy to use and can certainly increase your overall win rate. Just make sure that you are using a sensible risk to reward ratio so that your winning trades outweigh your losing trades. You do not want one big loser to wipe out all of your gains which is why money management is so important as is traders discipline – stick to the plan! The Forex Heat Map should be a trading tool in every forex traders arsenal. With this, you can be sure that you have an increased probability of buying or selling the strong or weak currencies. It comes with instructions, trade examples and of course the Forex Heat Map indicator for your charts in mt4. There is also a refund guarantee although you will more than likely be very impressed by this unique forex trading tool.