Forex heat map strategy wot

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This works out extremely well when using on higher time frames. The lower time frame like the 1 minute time frame is just simply too volatile and can change almost instantly. Try using on higher time frames like the 4 hour time frame or at least the 1 hour time frame as it provides a better indication of the strength and direction of the trend.

Then zoom out further by taking a look at the 4H time frame to see if the longer trend is also with the 1H time frame that we want to trade. We like to use the support and resistance level as entry points. The heatmap works continuously during forex market hours. The heatmap does not know if the trend cycle has just started, or if the pair has already moved deep into the trend. The heatmap does not evaluate the current market conditions, i.

When using the heatmap, traders must check the condition of the trend with these basic indicators to answer those questions. Any trader can learn to check the trends using multiple time frames. There are two heat maps, one is for trading in the Asian session one for trading in the main session, i.

You can read this article to learn more about the the two different forex trading session and the best times to trade the forex market. The top of each heatmap displays the current date and time in GMT, along with how much time remains until the percentages reset to zero next reset in: , which is when the percentages reset to zero ahead of each trading session.

If you have two screens on your computer setup you can put the heat map indicator on one screen and your trading platform on the other. The heatmap also has a unique arrow system, which points traders towards what pairs should be considered first for possible trading. In case of outages, we also have a backup version that is on a fully redundant data feed and fully redundant servers. You can trade a total of 28 pairs with any of our heatmaps. Your own experience watching the heatmap during the main trading session and demo trading these signals for about 30 days will convert any forex trader to this style of trading.

Combining the heatmap with the free trend indicators on our website and support and resistance levels turns into a powerful trading system. Specific times to use the heatmap would be when new, consistent movements are starting across any of the 8 currencies or 28 pairs we follow with this trading system. Forexearlywarning has a complete suite of alert systems to notify traders of market movement, like our desktop scanner, mobile app, and audible price alerts.

Click on the link to learn all about all of our forex alert systems. In the example above the CHF is consistently weak on 7 out of 7 pairs, this is a consistent signal that almost always results in positive trades. In many cases very strong positive results.

Use the same logic for all 8 currencies in two directions. Always make sure all 7 pairs in at least one individual currency group are all pointing in the same direction, strength or weakness. Combinations of strength and weakness from two currencies is also acceptable. After some demo trading most traders adapt quickly to this system. At the point of entry, you would like to have consistency, and all of the percentages at least 0. For example if all of the EUR pairs are green and all seven pairs have consistent percentages of over 0.

The heat map also has a handy arrow system that will appear to indicate what pair should be checked first for a possible trade. Look for consistent signals on these pairs as you visually inspect the heatmap for possible trades. These arrows will not appear unless the individual pair is trading at plus or minus 0.

If no arrows appear anywhere on the heatmap, it means the market is consolidating and moving sideways, and no trades are evident. If there are no arrows the entire market can be scanned in under 30 seconds. The percentages on the heatmap are based on price movement. A "slingshot" is a Forexearlywarning slang term we use for when you have consistent strength on one side of a currency pair and consistent weakness on the other side.

This is the most powerful signal and will produce the strongest possible movement, very safe to trade. Slingshots can break through clusters of support or resistance with relative ease and break very strong levels of support or resistance. You do not need to have a slingshot to trade with the heatmap, even if one currency is consistently strong or weak, profitable trade entries are possible in any trading session, day after day. Sometimes the signals and percentages are inconsistent.

For example half of the JPY pairs are red and half of the JPY pairs are green and the precentages are low, all of those pairs may not be good trades at all or just bouncing around and consolidating. The signals have to be consistent with all of the JPY pairs red, or all of them green, to consider for trading. Since our trading system is for 8 different currencies, just move to another currency looking for consistent signals and potential strong movement.

One of the best functions of the heatmap is to tell you what pairs to avoid. Experience about 30 days of demo trading with the heatmap in the main trading session and you will see pips come into your demo account. The best forex indicators is the forex market itself, and the heatmap reflects this simple concept.

As a trader, if you are not making pips you will start to with the heatmap.