Forex heat map version 3.0
Also you can uninstall and reinstall your favorite browser to get the latest version, this could also clear up many minor heatmap display issues. The pair starts a fresh movement after the news driver with a consistent heatmap signal.
Each heat map zeros up once per day, and each is on a 24 hour clock. 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.
Our heatmap alert system is also very handy for monitoring the forex market for movements. 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. The best times to trade the forex market is always going to be in the main trading session. 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. The first thing you need to learn is to determine when an individual currency is strong or weak. This takes a few days to get used to this, but since we only trade 8 currencies you can get used to this quickly.
You can learn how the heatmap guides your trade entries with these examples of basic currency strength and weakness. We have plenty of examples of good quality forex heatmap trading signals to get the hang of it. 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. These are the safest possible trade entries and will produce the strongest movement cycles, even on less volatile pairs.
When you get started with demo trading it is possible to easily make pips in the first 30 days by trading slingshots. Here is an example of a slingshot. The overall movement was about pips and this pair also formed a new downtrend, and eventually proceeded much lower. This is likely the most profitable way to trade the forex. 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.
Every day we prepare trading plans for 28 pairs that are based on the trends of the market that are based on the larger time frames. A supplemental trade is a trade that the heatmap points you towards that you may not have anticipated based on the trend analysis and trade planning process.
This would be a supplemental trade. In the trade planning process we were expecting CAD weakness, so this was not totally unexpected. Price alarms will tell you when the market is moving, but the heatmap indicator may point you towards another pair not considered in the trade planning process.
Here is the good news, supplemental trades can be very profitable and will allow you to take advantage of the day to day changing market conditions or unexpected outcome of scheduled forex news, for extra pips and profits.
The number one question forex traders have is what pair to buy or sell and when. When you first get started with the heat map and the trading plans, you should start to demo trade immediately.
Experience about 30 days of demo trading with the heatmap indicator in the main trading session and you will see pips come into your demo account. Outside of the Forexearlywarning client base it is somewhat astounding that traders know nothing about parallel and inverse analysis, which is the fundamental reason the heatmap works so well. Traders have no clue what drives movement in a currency pair.
This leads to some very strange behavior and high risk taking by forex traders. I strongly advise becoming a student of parallel and inverse analysis to all forex traders. Many traders have a bit of a mental block trading 28 pairs because they have scalped only one or two pairs for so long that they must now change their mindset. Traders must demo trade their way out of this mental block. If you are not making any pips you will start to very quickly.
Reviewing the information about parallel and inverse analysis will get you started in appreciating the solid fundamental basis for the heatmap. If you want to judge whether or not an individual currency is strong or weak it is not too difficult. Just look at the percentages on the heatmap and make sure all of the pairs in that individual currency group are all pointing in the same direction, strength or weakness, and all have percentage greater than 0.
For example if all of the EUR pairs are green and all seven pairs have consistent percentages of over 0. We also have a heatmap alert system that will tell you when the signals are consistent on a currency group, and these alerts are visible on your desktop as well as mobile devices.
The heat map also has an arrow system that will appear when a currency pair is moving up or down strong. These arrows will not appear unless the individual pair is trading at plus or minus 0. If no arrows appear on the heatmap you can immediately tell there are no potential trades on the entire market in under 20 seconds. The percentages on the heatmap are based on price movement. All pairs in the group must be consistent indicating strength or weakness in the currency before considering a trade.
A heatmap is defined as a a visual display of large quantities of data presented with different colors for easy visual analysis. Most forex traders use standard indicators, like average true range, bollinger bands, and a list of over other indicators. These indicators are attached to an individual pair. The heatmap cannot be attached to an individual pair, like a standard indicator. In fact the heatmap is composed of pairs, each pair is grouped with one common currency in each group.
So the heatmap uses pairs to be "mini indicators" on the overall map, to produce the full view. You can look at the heatmap and view the entire market at a glance, rather than staring at one pair with one or more meaningless, ineffective standard indicators. The heatmap allows you to find the market momentum very quickly. Currency pairs move because one currency is strong or the other currency is weak, or both.
This is why traders like the heatmap, they are monitoring 28 currency pairs comprised of the 8 major currencies, not some standard indicator that nobody understands.
Forex traders are trading currencies not indicators, so start watching currencies on the heatmap, and move away from indicators. It makes perfect sense. Standard technical indicators attached to individual pairs are fundamentally flawed because they completely ignore the behavior of both individual currencies that comprise the pair. All by itself it is an excellent tool but if you combine the live heatmap signals with any of the other components of the Forexearlywarning trading system, your trade entries improve incredibly fast.
The examples below are various situations of how combining the heatmap with just one other component of the Forexearlywarning system, will cause great improvements in trade entries for any trader. So here are some situations: A fresh trend cycle and moving average crossover on the H4 or D1 time frame combined with a consistent heatmap signal on at least one currency pointing in the same direction is a great situation for a trade entry.
A pair that has been consolidating for a couple of days and going sideways has a news driver on one of the currencies in the pair. The pair starts a fresh movement after the news driver with a consistent heatmap signal. This is a good situation for a trade entry because the pair was consolidating ahead of the movement, and you are combining the consolidation phase with the heatmap.
All pairs in a single currency group indicate a consistent trend then the heatmap confirms the entry, for example all of the JPY pairs are trending higher. Then you can use the heatmap to confirm the entry with JPY weakness and know that the market trends support the movement. The market is choppy on most pairs but you get a consistent heatmap signal on a particular pair.
If you decide to trade you know the market condition, so you can trade less lots, scale out lots sooner, or not trade at all.
In this care you are combining the heatmap signals with the market condition. Then you can check the charts for the next resistance point or pip potential. The GBP is strong on all pairs. So knowing where you are in the overall trend becomes a great addition to using the heatmap. It takes some getting used to. After most of the news items and the forex market momentum starts to hit in the main trading session, or after significant price alarm points in the Second Opinion trading plans are breached, like after a strong economic news driver, then the configurations and percentages become very meaningful and can map out the market momentum clearly.
When all of the percentages within one currency group exceed plus or minus 0. For example if all of the JPY pairs are green on the heatmap and all of the percentages are 0.
Once again this takes some getting used to but the logic is simple. The heatmap also has a visual arrow system that points you to the market leaders that are trading above or below the 0. If there are no arrows there are likely no trades for that session.
Our live currency alerts are also extremely useful in detecting currencies with consistent strength or weakness for possible trade entries. Each currency pair has two separate currencies, here are two simple examples: Movements after stable consolidations, trading fresh movements, selling a pair with little or no support, etc.
Always use the heatmap within the context of the rest of the system. Sometimes currency pairs move against the trend after extended moves or after unexpected news and it is the job of the heatmap end user to know the direction of the primary trends. Knowing the direction of the trend of a pair is not difficult and you can use the free free forex trend indicators provided on the Forexearlywarning homepage as well as the Second Opinion trading plan, which are trend based.
If you are an experienced trader and you trade against the trend and you understand the risk and reward of doing this, extra pips are possible but you would be trading more frequently. At Forexearlywarning we always trade with the trends of the forex market but we fully understand that short term movements can and will occur against the trend. When you check the heatmap always check the trend indicators. When you have a fresh trend beginning on a D1, H4, and and sometimes even an H1 time frame, after a stable consolidation period, generally the trade is going to be a winner.
Become a good student of multiple time frame analysis and the heatmap becomes a powerful weapon. The Second Opinion trading plans outline price alert points and targets where they can be determined across 28 currency pairs.
However, if the heatmap indicates a buy or sell entry on a pair stuck in layers or clusters of support or resistance, then the pair could struggle with its movements. So always look for pairs with no near term support or resistance nearby or take the day off trading. A new movement or opportunity will likely come your way the very next day anyway. Lesson 14 in our 35 lesson package thoroughly reviews the trading sessions and best time to enter forex trades.
However it is possible to use the heatmap in the Asian session with some limitations and after you have about 6 months to 1 year of real money trading experience.
One year of experience watching the JPY, NZD, and AUD pairs and Asian session news drivers, within the context of the trend will start to produce additional trading opportunities in the Asian session, especially when these movements are brand new movements on the larger time frames. There are three heatmaps and each is on it's own page. There is not much difference between the three, one of the backup heatmaps has 24 pairs. If one of the heatmaps is offline for any reason you can always use one of the backup heatmaps.
The reason for three heatmap is to have a fully redundant backup system. The heatmaps runs on most browsers without a problem. If you cannot see the heatmaps, shut down and restart your computer and clean your cache memory. Check the heatmap on other browsers like Chrome, Internet Explorer, or Firefox. The google Chrome browser seems to always work best, in our experience.
Also you can uninstall and reinstall your favorite browser to get the latest version, this could also clear up many minor heatmap display issues.
Initially, you should try to use the heatmap with several web browsers to see what browser works best for you, or update to the latest version of your favorite web browser. The most popular browsers have different types of settings and controls which allow screen re-sizing, magnifying, customization, etc.
I f you have an older operating system or browser with add-ons, plugins and extensions this could interfere with the visibility of the heatmap. You can trade all 28 pairs all three versions. If you are having heatmap display issues and the above procedures don't work, email us and we can troubleshoot any issues with you on the phone or Skype.
The heatmaps also display well in mobile devices like cellphones and Ipads. No downloads are necessary, just login and check the condition of the forex market. It is on all of the time during the trading week.
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