For MetaTrader 4
The currency heatmap indicator provides MT4 traders with an instant view of both global and local sentiment across 28 currency pairs and in nine timeframes. The heat map indicator ranks all twenty eight pairs vertically from bullish to bearish based on the performance scores, whilst horizontally against time, each cell describes the bearish or bullish sentiment in that timeframe.
In this short video we show the currency heatmap indicator in action for MT4. On the left of the indicator the 28 currency pairs are ranked according to bullish or bearish sentiment, whilst on the currency heatmap itself, each currency displays the sentiment for the pair across nine timeframes. In other words, 252 charts on one workspace which describes both global and local sentiment for every pair. In addition using the toggle function, you can then isolate each currency complex to reveal strength and weakness for a currency and its related pairs.
For MetaTrader 5
The currency heatmap provides an instant view of currency pair strength and weakness across 252 timeframes, and all on one indicator. This instantly reveals bullish or bearish sentiment as it ebbs and flows in all timeframes. Alongside is the ranking ladder which then weights the currency pairs, and as they move to the extremes then offer trading setups for longer term potential reversals in trend. Like the currency strength indicator, the currency array indicator and the currency matrix, a currency complex can be filtered using the toggle buttons so strength and weakness in the currency’s complex can be revealed instantly.
The MT5 version also includes an exciting bookmark feature which gives you the option to see instantly the currency pair you are trading, along with resizing features which allow you to optimise the indicator to your trading workspace.