New forex trading indicators coming soon for TradingView

New forex trading indicators coming soon for TradingView

00:05

Introduction to TradingView and Pine Script updates

00:05

The speaker begins by discussing TradingView as the primary platform due to recent enhancements allowing object and line drawing in Pine Script, which enables porting previously unavailable indicators. They mention the development progress of multiple indicators, including the currency matrix, currency array, heat map, volume point of control, and support resistance indicators. The current focus is on demonstrating these tools using an hourly chart for the CSI on TradingView.

01:06

Market overview: Dollar weakness and volatility

01:06

The dollar index is showing continued weakness, remaining in a downtrend with only a minor bounce earlier in the US session. The FTSE 100 index exhibits significant volatility since the London open and is currently trading within a fragile range. This pattern of risk and volatility is similarly reflected in the US markets, particularly in the Dow Jones derivative.

02:09

Fragile US and UK markets and expected retracement

02:09

The S&P 500 (ES) and Nasdaq 100 (NQ) futures contracts on the daily charts appear fragile, suggesting a potential retracement or correction in the longer-term bullish trend. Recent price and volume patterns indicate weakening momentum, with falling volume and flattening, narrowing price spreads. The FTSE 100 reflects similar weakness, trading in a narrow, directionless range. Market participants are awaiting the start of U.S. trading hours amid recent selling pressure on the yen.

03:07

Yen buying signals risk appetite shifts

03:07

The speaker discusses currency movements across different global markets, highlighting the Japanese yen’s recent strengthening as an indicator of increased risk aversion, which typically correlates with weakness in equities. The Swiss franc is also mentioned as a risk-sensitive currency, with the US dollar noted as the primary reserve currency. The analysis focuses on observing extremes of currency strength and weakness, noting the Swiss franc is heavily overbought and the British pound experienced a volatile but strong rally earlier in the morning.

04:05

Forex mean reversion and trading strategies

04:05

The segment explains the concept of mean reversion in the forex market, where currencies fluctuate between overbought and oversold levels. It highlights how traders look for these extremes to identify potential reversal points or the start of trends. The discussion includes observing currency pairs like the New Zealand dollar moving from oversold to rallying, emphasizing the importance of levels and flow in trading decisions.

04:58

This part contrasts trading reversals with trend trading, noting that reversal trading requires wider stop losses due to market buffering at extremes, while trend trading allows for tighter stops as the trend progresses. Patience is key when trading reversals, as the market may remain at extreme levels for extended periods. It stresses that currency prices continuously cycle through highs and lows over different timeframes, from hourly to daily.

05:52

The discussion continues on the cyclical nature of currency movements, applicable across all trading styles and timeframes, from scalping to weekly trading. It introduces a currency matrix tool, mentioning its recent rollout after a beta testing phase, aimed at helping traders analyze currency strength and movement effectively.

06:24

Currency Matrix and trend with volatility on Cable

06:24

The speaker discusses the current volatile trend in the pound currency pair on various time frames, highlighting rapid price movements and high volume spikes. The market exhibits significant volatility, particularly as it approaches the US trading session, indicating active participation from market makers. The emphasis is on patience before entering a long position.

07:17

To consider a long trade on the pound, price needs to break through certain resistance levels around 60 and 38.60 to establish a solid support base and continue an upward trend. Volume is increasing, but the current move lacks strength. The matrix shows the pound climbing in strength compared to other currencies like New Zealand dollar and Canadian dollar, suggesting pound buying momentum.

08:15

The pound New Zealand pair is at the top of the strength ladder due to the pound’s strength and New Zealand dollar’s weakness, based on the slower time frame trends. A new matrix feature has been added, requested by customers, which enhances the analysis by providing additional insights into currency strength and trends.

08:47

Currency Matrix overbought and oversold benchmarks

08:47

The speaker explains a new benchmark tool designed to assess overbought and oversold conditions in currency pairs using levels similar to the CSI’s 80 and 20 thresholds. This tool provides insights into currency pair valuations by comparing current levels to all-time highs and averages, exemplified by the pound-New Zealand dollar pair, which still has room before reaching extreme levels. The benchmark helps traders understand market cycles as currency pairs oscillate between extremes, reversing trends accordingly. The feature will be integrated into other platforms, including TradingView. Additionally, the speaker highlights a case with the New Zealand dollar and Swiss franc, showing how this tool can identify potential trading opportunities by spotting weak and strong currencies at extremes, signaling possible reversals.

11:26

Currency Array signals and scanning market trends

11:26

The currency array on a 15-minute timeframe visually represents the strength of various currencies and their trends. It highlights strong currencies like the pound and the Swiss franc at the top, while weaker ones like the New Zealand dollar appear at the bottom. This arrangement reflects the strongest and weakest currency pairs based on the current trend strength.

12:29

The currency array also signals when currency pairs approach overbought or oversold conditions. For example, the Aussie-New Zealand pair is shown as potentially overbought, indicated by bright blue colors without brackets. These visual cues serve as alerts that a reversal or trend opportunity may be developing, helping traders anticipate market moves.

13:31

Different indicators provide various perspectives on market trends: the CSI and matrix offer precise, close-to-market signals, while the currency array and trend monitor take a broader, more considered view. These tools complement each other, helping traders scan the market effectively with both detailed and overarching trend insights.

14:00

Platform availability and indicator transfers

14:00

The speaker discusses the upcoming release of the currency heat map indicator, followed by other tools like volume point of control and support and resistance indicators, all available at quantumtrading.com. They highlight compatibility with multiple platforms including MT4, NinjaTrader 7 and 8, TradingView, and the newly launched TradeStation versions 9.5 (with Interactive Brokers feed) and 10 (with TradeStation Securities featuring RadarScreen). Customers can transfer indicators between platforms at no extra cost, ensuring flexibility. Upgrading packages credits previous purchases, protecting customers’ investments. The full package price for TradeStation is currently about $677, but will increase once additional indicators are added, making now a favorable time to invest, especially with TradingView where new indicators will be included free of charge.

16:00

Comprehensive forex trading education program

16:00

The complete forex trading program offers a comprehensive education covering all essential aspects of trading. It includes modules on psychology, fundamental and relational analysis, explaining how markets, bonds, commodities, and currency pairs interrelate. The program provides an in-depth technical analysis section focused on Volume Price Analysis (VPA), teaching principles and practical application to identify trend pauses, reversals, and pullbacks. This knowledge helps prevent premature trade exits. Additionally, the program features 200-300 hours of video content with numerous VPA chart examples, indicator usage, webinars, and extensive resources. A unique feature is the QTE funded forex program, available exclusively to students, providing an additional opportunity within the curriculum.

18:04

QTE funded forex program: trade with no risk

18:04

The speaker explains a no-risk trading opportunity where participants trade using the company’s money. Traders start with an evaluation account of $5,000, $10,000, or $15,000 and must achieve an attainable target to demonstrate consistent trading ability.

18:31

Upon proving consistency, the account size is multiplied by four, for example, a $15,000 account becomes $60,000. The funding then doubles progressively, allowing traders to manage accounts up to one or two million dollars. The only cost is a one-time fee to join the program, which is optional.

18:58

The program offers a comprehensive package for students to leverage their knowledge and trade large accounts without financial risk. The video concludes with thanks and a promise of more content in the future.

By Anna Coulling – creator of volume price analysis