Since the New Year, I have been busy updating the available indicators, and so I haven’t had time to post on the blog unfortunately. Once these updates are done, I’ll resume the blog posts, and with the improved indicators, which will certainly be worth it!
News Indicator for Metatrader 4
This indicator shows the relevant news to each pair directly in Metatrader’s chart and it comes with alerts. It’s very useful to keep track of news without having to lose focus, by going to an external website.
News Indicator for Metatrader
Supports/Resistances 2.0
The supports/resistances indicator has various updates, and it now:
- Has a smarter system of S/R’s detection
- Draws from S/R origin formation, instead of cluttering the chart with an infinite line as before
- Comes with colors, width and line customization options
Like before, this indicator:
- Draws short-term, mid-term and long-term supports/resistances automatically
- Updates lines as they are broken
Supports/resistances (S/R) indicator for Metatrader
Spreads Indicator 2.0
The spreads indicator shows the spread in terms of the timeframe’s average range. This should be the term of comparison when evaluating if the spread is costly or not. Which one is better? A 4 pips spread on a pair that moves 400 pips a day, or a 2 pips spread on a pair that moves 100 pips a day? The first one is clearly better, because even though the cost is higher, the potential reward is 4 times better also. ‘Spreads’ compares the spread to each timeframe’s average range, and based on its value, it paints it as green, yellow or red.
Green – Cheap spread
Yellow – Costly spread
Red – Expensive spread
With the new version, Spreads updates these values every tick, and shows the spread cost in $ (or chosen currency).
Spreads Indicator Metatrader
Download Indicators
Download all these, plus a trend and pivots indicator, all for free, below:
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Aussie Dollar (AUD) pairs are showing some temporary weakness in the 15 minutes to the hourly timeframe, which may result in a short-term reversal. In this post, I analyzed the market’s supply and demand on the 3 of the most traded AUD pairs: AUD/USD, EUR/AUD and GBP/AUD.
AUD/USD
In this pair there was supply at new highs, which often pinpoints the beginning of a downtrend – in new (relative) market highs, there just isn’t trading due to old resistances, and so any supply sign tends to carry more weight. Before looking for a short I would like to see another descending top (lower than the last 2) on low volume, a downtrend confirmation.
Note: Non-farm employment change and unemployment rate numbers are coming out tomorrow for USD at 1:30 PM GMT
AUDUSD 15 Minutes
EUR/AUD
In EUR/AUD Hourly chart, the price is still moving in sideways, but the volumes are telling another story. They spiked on the market lows, which means there was mostly demand in the last 2 days. A low volume rally to 1.44 would be the trigger for a high probability long trade.
EUR/AUD Hourly
GBP/AUD
This pair is near a long-term support at 1.68, and just showed a major shake-out (blue dot). It’s probable that it may form an inverse head-and-shoulders, that given the accumulation, would show strength. Even if that doesn’t happen, though, a dip to around 1.687 (previous low) on low volume would still give a long opportunity with a favorable risk:reward.
GBP/AUD Hourly
In this trade, I went short after VSA gave a weak signal, together with the weak background + weakness nearby for quick 30 pips. It’s usually a strategy that works in London open, as volumes tend to spike at these hours.
Taking the VSA signal at London Open
- The background analyzes both the trend and supply/demand signs in the market. In this case, it was showing that the market was weak, which means you should be looking for shorts
- The market showed weakness behind, seen by the wide high volume (red) down bar, closing on the lows. This is a supply sign, that is even more important during a downtrend.
- Finally, a weak VSA signal (minor supply) triggered the trade, and a sell-stop was used at the bar’s low.
Trading London’s Open in EUR JPY
