Forex Speedometer Dashboard
Our Forex Speedometer Dashboard displays real time values for all times frame on a singe page. Our Forex Speedometer Dashboard is a fantastic tool for all trading styles. The histogram layout makes it extremely easy to use and navigate. Each time frame was designed for a specific purpose:
Forex Speedometer Uses
Our Forex Speedometer Dashboard and Histograms are not ‘pretty apps’ with flashy colors. Take time to understand these tools. All Forex traders should incorporated our Forex Speedometers into their trading system. DO NOT forget about these tools. The data is mission critical to both trend trading and counter trend trading. Here are just a few reasons to use Forex Speedometer:
- Forex Speedometer will prevent trend traders from entering at the end of a move. Even if the move is not over, the smaller time frame might be ready to consolidate. Example: if 1 minute data is overextended, wait for a small pull-back before entering your trade.
- Forex Speedometer can pinpoint market bounces and turns. By combining our Market Barometers and Forex Speedometer, we can pick the exact price where markets will turn. The larger the time frame, the larger the bounce or consolidation.
- Forex Speedometer can tell us when to take profits. Example; if we are holding a EURUSD buy and the EURUSD 5 minute is showing an over-extended value, we should consider taking profits. With a little practice we can learn to “time the bounces”. Meaning, if we know that a pair is going long, wait for the shorts to over-extend before we enter. These are excellent trades.