As a forex trader this Forex heat map is of great value because you can avoid fake outs, price spikes, etc. The heatmap also helps to identify the risk of entry on each and every potential trade.

 

Source: myfxbook.com

The best forex tool for spotting the strength and weakness

The Forex Heat Map is a real time visual map of the entire forex market. It is used for spotting strength and weakness in individual currencies. It also verifies and validates any trade entry across 28 currency pairs and 8 currencies.

 

Add the Forex heat map to your trading tools

The Currencies Heat Map provides a graphical representation of the relative strengths of major currencies relative to others, organizing the data from 20 currency pairs into color-coded results thus producing a clear overview of the whole Forex market.

Most Forex traders overlook the whole Forex market picture, by just looking at one pair and one timeframe. This means that you could buy GBPUSD expecting USD to weaken but if you look at other pairs you may find that USD is rising against other currencies and that buying GBPUSD is not a good choice. Now traders can add the Currencies Heat Map to their trading tools arsenal to filter trading strategy signals, confirm the analysis and trade with more confidence.

The Forex heat map is used to guide daytraders and trend traders into much more exact trade entries. This video and attached illustrated article will show forex traders when to use the heatmap, what entry signals look like, and the limitations. Also you can learn how to enhance your entry points by incorporating things like support and resistance and the major trends of the forex market.

Do you want to get alerts when the heat map changes?

Specific times to use the heatmap would be when new, consistent movements are starting across any of the 8 currencies or 28 pairs we follow with this trading system. Forexearlywarning has a complete suite of alert systems to notify traders of market movement, like our desktop scanner, mobile app, and audible price alerts. Check out ForexEarlyWarning for more info.