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. This forex trading tool could work well alongside the forex indicator – Forex Market Sentiment – as you would have an extended overview of a currency strength and weakness. T
he 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 can be a very useful forex trading tool!
Forex Heat Map Features
The Forex Heat Map forex indicator can be used for any currency pair and on any time frame 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 can run 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, showing the latest data it has for all of the currencies.
Forex Heat Map will tell you which currencies you might want to avoid if they are neutral, this is to help you avoid choppy market conditions. By using the Forex Heat Map to identify the strong and weak currency pairs, you can filter out your own forex trading signals if you are unsure on a trading signal.
Forex Heat Map Summary
Overall, the Forex Heat Map is an decent concept that is very easy to use and can certainly be beneficial. I would make sure that I am using a sensible risk to reward ratio so that my winning trades outweigh my losing trades. I do not want one big loser to wipe out all of my gains which is why money management is so important as is traders discipline.
The Forex Heat Map could be a useful trading tool in every forex traders arsenal. With this, you can see 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.