Want to earn in the Market? FX Order Flow Indicator shows you the proportions of the buy and sell orders executed market flow forex the interbank market by all participants that make the price move.
It uses a unique method to calculate the levels based on tick volume, so it is as accurate as it can ever be. Free version only shows a single currency pair. Purchase the full version from the Market. I downloaded the demo version but it shows only one currency pair and a note on the indicator says that demo version is supposed to show only only one pair. Lowest if a Price Break occurs.
The theory is that you go long when price breaks through the Highest High, or short when it breaks drops below Lowest Low. This is signaled when the green line jumps up, or the red line down. Whilst developing it, I initially just tracked ‘periods since Highest High’ etc into a separate chart. There is an endless debate within the forex trading community whether investors are better suited to use price action mechanisms or technical indicators when developing their portfolio strategies.
The reality is that both sets of strategies have advantages and disadvantages, but the benefits gained from them are based heavily on the timeframe. Let us take a look at some important factors to keep in mind when determining which strategy to use. The most basic definition of price action is a strategy that involves an investor taking all forex trading decisions based solely on the movement of a currency’s price. A price action strategy does not take into account any technical indicators that may be typically used to determine whether a currency is supporting or resisting a particular trend.