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*Disclaimer: Box is for visualization purposes only. Forex Market Sentiment is a digital product.
Forex Market Sentiment
With billions of dollars' worth of forex transactions placed every single day it is clear that there are many participants in the forex market.
With such a large volume of trades taking place and the majority of them being speculative, it is very important to have an edge when trading the forex market.
Fundamental analysis can give an overview of a currency pair's direction and technical analysis can help to spot trends and reversals.
The key thing missing is one of the most important aspects for any trading strategy which is market sentiment analysis.
Market sentiment analysis will show you how many traders are in a long position, how many traders are in a short position and the volume of these positions.
When you know what the majority of traders positions are and the amount of volume of these positions, you can determine supply and demand.
Forex Market Sentiment Indicator
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The Forex Market Sentiment Indicator will show you the amount of traders who are long or short and the amount of trading volume in these positions.
The indicator is developed for MetaTrader 4 and visually displays the market sentiment data of multiple currency pairs on one chart. The Forex Market Sentiment Indicator can be used stand alone or combined with any other technical and fundamental analysis.
The combined trading volume of the sentiment data gives enough data to conduct a thorough and up-to-date forex market sentiment analysis with the Forex Market Sentiment Indicator.
How Does It Work?
To keep it as simple as possible, you use the market sentiment data displayed by the indicator to find extremes in long or short positions and volume. When you see an extreme in either or both, you trade against these extremes - this is known as contrarian trading. E.g. If 70% of traders and trading volume are long, you could be looking to enter a trade. Read on to find out more...
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Forex Market Sentiment Indicator Key Features
Visual display on chart
Displays all currency pairs short vs. long trading volume and total positions as figures and in a percentage.
Short vs. long volume
Displays the total size of all traders positions short and long.
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Short vs. long positions
Displays how many traders are short and how many traders are long.
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Average short/long price
Displays what the average price for all short and long positions are.
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Filter by extremes
Filter display to only show currency pairs where the total volume and/or positions are extreme. You can choose the extreme, e.g. only show currency pairs where the total volume and/or long positions are greater than 70%. Both volume and positions extreme can be set to true or false.
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Alerts on extremes
You can choose to receive a pop-up alert, email or SMS (push notification) when there is an extreme reached on any currency pair. Using alerts is useful if you do not have the time to watch charts and wait for market sentiment extremes to be reached.
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Real Time Data
Forex Market Sentiment Indicator data is updated every 60 seconds.
Flexible
The Forex Market Sentiment Indicator data can be used to trade on any currency pair and timeframe.
Forex Market Sentiment Indicator Trading Strategy
You can use the Forex Market Sentiment Indicator with your own trading strategy or you can use it by itself. The main way to trade with the indicator is to look for volume/position extremes and trading against them (contrarian trading) such as the examples below.
Forex Market Sentiment Contrarian Trading
If there is an extreme amount of sellers it is seen is a buying opportunity and if there are an extreme amount of buyers it is seen as a selling opportunity.
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Forex Market Sentiment Extremes
An extreme market sentiment can be anything from 60% upwards. If both the trading volume and trading positions are extreme in the same direction then this could be considered a strong contrarian trading signal.
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Forex Market Sentiment Reversals
You can use technical analysis indicators such as the CCI, RSI and STOCHASTICS to help identify the best opportunity to enter against an extreme market sentiment.
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Forex Market Sentiment Stop Hunting
The Forex Market Sentiment Indicator can also identify where traders have placed there stop losses. If there is an extreme in one direction, look for a recent high or low as an area where there would be a build-up of stop losses. Expect the market to move rapidly against the extreme sentiment when these stop losses are triggered and other traders enter into the new market direction. You can also use the Forex Market Sentiment Indicator to show you where traders are likely to have their stop losses using the average prices display.
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Forex Market Sentiment Trend Trading
If you see the market is trending in one direction but the extreme sentiment is against the trend, this could be a good entry opportunity into the trend.
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Forex Market Sentiment Price Action Trading
When the Forex Market Sentiment Indicator shows extreme sentiment in one direction you can look for price action candlestick patterns for entry points against the extreme sentiment. Candlestick reversal patterns that are against the sentiment such as three inside/outside up, engulfing candles and hammers can give entry opportunities. You may even wish to combine the sentiment extreme and price action analysis with technical analysis using indicators for further confirmation.
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Forex Market Sentiment Package
*Disclaimer: Box is for visualization purposes only. Forex Market Sentiment is a digital product.
You will get the Forex Market Sentiment Indicator with detailed instruction manual for a fast 5 minute setup. Within 5 minutes you will be able to see the real time live account trading positions and volume from thousands of traders around the world from a display on your MetaTrader 4 charts. You will get unlimited license numbers for all of your trading accounts and also free updates and support for lifetime.
You can setup signal alerts for market sentiment extremes and trade it stand alone or with your own preferred technical analysis indicators. It is excellent at identifying what direction the market sentiment is and this can help you to determine where the market will go through contrarian trading.
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If for any reason you would like to refund within 60 days of your purchase you will get your money back - no questions asked!
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Forex Market Sentiment Support.
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