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  • Online Forex HeatMap

    The Heatmap of currencies provides a brief overview of the activity of the Forex market. It will allow you to identify strong and weak currency pairs in real time, and also compare them with other currencies using parallel and inverse analysis. In the forex market, by the strength of the currency it is customary to mean the number of pips traversed by the price for a certain period of time. This tool will help both with the choice of trading strategies, and with the search for the right moment for a successful transaction.

    HeatMap Example

    • If the EUR is strong and the USD is weak, that is the best time to buy the EUR/USD. This is actually a simple concept that is ignored by many forex traders, but it is very effective for profit.
    • Another simple example of using the power of the currency: if AUD is strong and CAD is weak, this will be the best time to buy AUD/CAD.

    If you understand how currency pairs work, you can trade according to a trending strategy or during a flat and determine the best moment, as well as make your trade profitable. In the main field of the table are cells painted in different colors, each of which has its own meaning:

    • Bright red – displays the current value of the base value of the currency, which fell below the previous low against the quoted currency;
    • Pink – a value that is lower than the previous bar, but still above the current minimum;
    • Gray – is the so-called flat, a value that remains unchanged;
    • Pale green – the rate has risen above the previous bar, but still has not reached the current maximum;
    • Bright green – displays the current value of the base value of the currency, which has increased above the previous high against the quoted currency;
    • White color should not interest the trader, since these cells are physical points of intersection of the exchange rates of the currencies of the same name.

    To determine the optimum point, signals with bright red and bright green cells are usually used since the probability of trending motion is higher. The remaining cells are usually not taken into account by traders, since it indicates a weakly expressed signal or its absence at all (flat). On flat strategies, more experienced traders usually trade.

    HeatMap Benefits

    The main advantage of the heatmap is its simple and obvious. Some traders trade with the trend, analyze the candlestick chart, others trade by the pivot or fibonacci levels, and this tool is designed for those who prefer analytics in the form of histograms. It is recommended to combine this information with other technical analysis tools, as well as with fundamental analysis, and this will help you make the right decision. You should always look for a confirmation signal using other analysis tools. An experienced trader just needs to look at the table to understand which asset is now more volatile and whether to trade it. You can use a heat-map of currencies for Forex, Digital options, CFD.