A five chart dashboard for trading forex on MT4/MT5

00:00

The webinar begins with a welcome and an apology for the slight delay. The presenter reminds viewers to pay attention to the disclaimer visible on the screen, emphasizing that trading, especially in forex, carries significant risks. They caution against using money that one cannot afford to lose.

00:27

The session introduces new participants and briefly covers recent developments in the forex program. The focus is on volume price analysis (VPA), which examines price action alongside trading volume to predict future price movements and verify the authenticity of market signals. The discussion highlights the value of VPA, noting its long history of use in futures and stock markets before being applied to forex trading about a decade ago.

01:33

The discussion highlights how central banks and their officials remained mostly silent for a long time, reducing market noise from their comments. Previously, forex trading was largely chart-driven with some fundamental news like non-farm payrolls influencing decisions. However, the approach has evolved to incorporate not only chart analysis but also economic releases and central bank activities. Additionally, the forex market is now viewed in the context of broader market sentiment and correlations with other markets. To support this comprehensive analysis, specialist indicators have been developed and combined into a complete forex trading program.

03:07

The speaker introduces the comprehensive program available at quantum trading education, highlighting specially developed indicators for the forex market. These indicators track the flow of money into various assets, reflecting market sentiment such as risk-on or risk-off moods. The current market conditions are heavily influenced by political factors, especially affecting the British pound, which will be discussed further.

04:09

The speaker discusses a currency available on their trading profiles and introduces an advanced educational opportunity involving funded trading accounts. Participants in the program can trade with funds provided by the organization, starting with accounts of five thousand dollars and progressing up to two million dollars. A special webinar is scheduled for Thursday to explain this program in detail, and a link will be provided for sign-up. The webinar will also be recorded for those who cannot attend live.

05:22

The speaker discusses a webinar recording that explains the program in detail and then shifts focus to recent developments in forex trading. They introduce a new chart layout on the MetaTrader 5 platform, highlighting a profile setup for users with volume price analysis (VPA) indicators. The VPA method analyzes the interaction between price action and volume to predict price direction and identify anomalies. The setup also incorporates support and resistance levels, candle patterns, and multiple time frames through a five-chart combination. This new approach aims to help traders synthesize information without feeling overwhelmed. The segment concludes with a brief mention of current fundamental news in the forex market.

07:11

The discussion begins with a focus on key upcoming events affecting the market, particularly retail sales scheduled for the afternoon and their expected impact on the day trading session at 3 p.m. UK time. There is also mention of a bond auction involving the pound. The speaker recommends the Financial Juice news feed over the Forex Factory economic calendar due to its greater detail, including coverage of events like the UK Red Book and speeches such as one by BoE’s Bailey, who is considered important enough to warrant close attention despite being marked only with an orange flag in Forex Factory.

08:19

The speaker elaborates on how Financial Juice is useful for cross-checking economic events and news, noting its affordability compared to other feeds and availability of a free, slightly delayed version. Attention is then turned to investing.com for sentiment analysis: Dow futures are slightly down, with reference to the previous Monday’s strong market moves. The Nasdaq is up slightly, showing some divergence across indices. The VIX volatility index is also mentioned, currently declining, reflecting market sentiment and background fundamental conditions.

09:58

The market pullback is noted, with the current day being less dramatic compared to the previous Monday when the Dow surged by over 1400 points. The focus then shifts to the British pound, introducing the use of currency strength indicators across multiple time frames—specifically the 1, 5, 15 minute, and hourly charts—to analyze the pound’s profile and movements.

10:40

The speaker explains their use of two versions of a market profile matrix to analyze currency movements, focusing on hourly charts for a broader perspective. They note that certain currency pairs, like the dollar-CAD, show low activity with low indicator values, suggesting limited movement. An upgraded indicator now provides notes on whether these values are high, medium, or low, which is already available on some platforms and coming soon to others. The current readings show slight increases in market speed but no strong trends yet.

12:25

Examining the hourly chart of the CSI index reveals a consolidation phase where currency lines are closely grouped, indicating a pause in strong movement. However, faster time frames like the 1-minute and 5-minute charts show some buying activity, particularly in the Japanese yen and pound-yen pair, which saw a modest but notable move. The speaker points out that divergence visible on faster time frames has not yet appeared on slower ones, suggesting that larger trends have not fully developed. They emphasize the importance of observing these trends, which when strong, show higher indicator values nearing triple digits.

14:34

The speaker discusses how to interpret the matrix indicator values across different market sessions and liquidity conditions. They highlight using these values to identify potential reversals or trend continuations, especially on faster time frames. Volume Price Analysis (VPA) is introduced as a tool to help pinpoint re-entry points during pullbacks, working alongside the indicators to support trading decisions.

15:37

In addition to the matrix, the speaker presents a heat map developed for the forex market that tracks 28 currency pairs across multiple time frames. This tool helps traders monitor potential reversals and overall market direction without switching between multiple charts. It highlights the relative positions of currency pairs and tracks directional moves by changing cell colors, providing a comprehensive view of market sentiment and activity.

16:42

The speaker shares their personal use of the heat map and hourly CSI as benchmarks for trading, particularly with Renko charts. They observe emerging movements such as buying in the yen, Swiss franc, and dollar, alongside selling in risk currencies like the Australian and New Zealand dollars, indicating a cooling of market sentiment after previous optimism. Multiple indicators including hourly and 15-minute matrix versions and trend strength arrays allow them to track currency pairs effectively. The segment ends with the speaker preparing to review the pound-yen pair before passing the discussion to a colleague.

18:51

The speaker introduces the Renko chart, a unique chart type that ignores time and forms bricks based on price movement in pips rather than time intervals. They explain that the Renko bricks are formed when the market moves a set number of pips, with the speaker using a value of 2.5 pips for the Pound Yen, adjusted from their usual 3 pips. The Renko chart provides a clear view of market structure, patterns, and geometry, helping traders understand price movements more effectively.

19:58

The speaker elaborates on how price moves in the market, emphasizing that price action is rarely linear. Instead, it moves through phases such as upward trends, pullbacks, congestion phases, and range-bound periods. Using the Renko chart, these phases are visually distinct, allowing traders to identify primary and secondary trends, pauses, and reversals more clearly. The chart reveals choppy price action with a mild upward bias, followed by a test of support and subsequent price movements.

21:00

The Renko chart shows a clear depiction of trends, congestion phases, and choppy price action, highlighting a strong move that occurred near the London market open, characterized by volatility and traps. The speaker points out a notable primary downward trend following a correction. They also mention their chart setup, which includes Renko charts alongside 3-minute, 5-minute, 10-minute, and hourly charts in MT4, enhancing their ability to analyze market movements across multiple timeframes.

22:05

The speaker explains the use of the camarilla indicator in analyzing support and resistance based on both price and volume, emphasizing the volume point of control as a key level called the fulcrum. This fulcrum represents a congestion phase or fair value area where the market shows price agreement with no strong directional bias, signaling either a pause before trend continuation or a potential reversal. These levels are also useful for breakout trading.

23:13

The discussion continues on support and resistance hierarchy, comparing camarilla-based indicators with Fibonacci levels. Unlike Fibonacci, the speaker’s approach uses six camarilla values to assign significance to price levels. The indicator works across multiple timeframes, excluding the hourly chart, and the values refresh daily. The camarilla-based support and resistance lines help traders identify important levels for potential reversals or trend continuations.

24:21

Two charts are shown: one below the hourly timeframe and one hourly chart where camarilla values update every 24 hours. The recent price action around London open shows a pause in a buffer zone between key support (S1) and resistance (R1) levels, described as another congestion phase where price may trade sideways for an extended period. These levels serve as targets, reversal points, and places to set stops.

25:33

The speaker highlights the importance of understanding weekly camarilla levels on the hourly to daily charts, which remain valid for the entire week. Traders may observe pauses or stops at these levels across different timeframes, explaining seemingly unexplained price behavior. Using multiple timeframes helps identify significant support or resistance zones that affect price action on faster charts.

26:46

The final segment discusses the strength of the S1 support level at 137.65, which has caused multiple bounces, indicating its significance. The speaker suggests that if the price continues downward, this level is a logical target. Monitoring five charts, including renko for momentum and pause signals, allows traders to see levels across timeframes and better anticipate trend direction and reversals.

27:18

The segment discusses how the trend monitor helps with trade entries and maintaining positions on the three-minute chart. It highlights a bullish engulfing candle before the market open and a key resistance area. The volume at the London open is noted as distorted due to increased trading activity. A critical observation is made about the next upward bar having unexpectedly low volume, indicating that the upward move may not sustain.

28:21

This part explains a common London open trading pattern where a candle resembling a hammer or pin bar suggests buyers rushing in, but low volume reveals it as a trap leading to stop-outs. The presenter emphasizes the importance of volume analysis to avoid being misled by weak candles and shows how the price subsequently moves lower back to a support area.

29:16

The focus here is on the typical price reversal dynamics at market open and the risk of traders entering positions too early. The advice given is to consider taking profits or scaling out partially when a strong move occurs before the session crossover, then observe how the price behaves afterward.

29:46

The segment concludes by discussing the significance of the S1 support level and the potential for a reversal, supported by indicator signals. It suggests cautious trading around these levels and introduces the idea of analyzing the daily chart to determine the overall trend before making further trading decisions.

30:20

The speaker discusses the importance of identifying whether the market is in a congestion phase to anticipate the type of price action on faster time frames. They recommend using multiple indicators across five charts to gain a comprehensive view of price action, volume, multiple time frames, and important upcoming levels. The analysis includes considering two sets of levels based on daily and weekly data, noting how closely aligned resistance (R1) and support (S1) levels can indicate specific trading conditions. The speaker highlights the significance of these overlapping levels and the narrow price range between them in determining potential market behavior for the currency pair.

31:27

The speaker comments on the sluggish performance of the pound and shares a humorous observation about a Bloomberg report referencing The Sun newspaper, a popular UK tabloid, claiming a Brexit deal will be reached by next Tuesday. Although The Sun is not typically a source for serious economic news, this report may have influenced the pound’s recent buying activity. The speaker then hands over to David.