The Forex Probability Meter - The way where the trend is going
Posting Date : Feb 11, 2008 GMT
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Thailand
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WHAT IS THE PROBABILITY METER? The Probability Meter gives the most probable way where the trend is going. Because it is based on current feed and is updated each coming tick, this is a great tool for scalping or short term trading style. The global result in percent (%) is calculated with a strong formula according to the 5 indicators listed below. Multi-Info+ : Based on 13 standard indicators and 7 timeframes, it shows a value between 50 and 100 colored with green or red according to the Up or Down trend. Indice Strength: Based on price action during the last 24 hours, it shows a value between 0 and 9 colored with green, yellow, orange or red according to the strength of the pair. Closer to 9 for a strong Up trend and closer to 0 for a strong Down trend. Currency Pair Range: Based on price action and 12 pairs (7 currencies) during the last 24 hours, it shows the strength of each currency of the current pair, value between 0 and 9 colored with green, yellow, orange or red according to the strength of each currency. Larger the range between the currency, stronger is the trend. The last 2 indicators: Those 2 additional indicators are standard ones and in my opinion the most trustable. Anyway, if you have 2 preferred indicators that you want i code inside this tool instead of the 2 in example, i will code specially for you. HOW TO USE THE PROBABILITY METER? It can be used on any timeframes and on any of these 12 pairs: EURUSD-GBPUSD-AUDUSD-USDJPY-USDCHF-USDCAD EURJPY-EURGBP-EURCHF-EURAUD-GBPJPY-GBPCHF The first 3 Meter values aren’t based on any timeframes and will be the same on M1 or H1 for example. The 4th and 5th values are based on the current timeframe. The global result in percent (%) will be different if you switch between TFs. WHAT IS THE BENEFIT OF USING IT? Whatever your trading style, you always need to know if you trade in the right way. The Probability Meter will show you not only the way but the strength of this way. After observing this tool, you will be able to define the end of the current trend and the start of the reverse. All the values will show you the way!!! With the Probability Meter you will have the best confirmation tool for your live trading. A question? Feel free to contact me.
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