I can't find any mention of FX4Caster on this site, and wondered if any other members had experience of it. If so, please share your thoughts.
It' a program that takes price feed from MT4 and then shows in real time the relative strengths and weaknesses of different currencies (eg. USD, GBP etc., not FX pairs). The idea is that if a currency is strengthening (eg. AUD) and another one is getting weaker (eg. JPY) as shown on the 'strength meter' then it may be a good time to go long AUDJPY.
I'm finding it very useful for selecting FX pairs to trade but so far don't have much experience of it. It comes with an optional strategy for trading on 5 minute charts, which I don't use, though some might find it helpful. But it is a great general purpose tool and i think you could use it profitably with almost any strategy provided it is intraday and short term.
It is certainly one of the most useful indicators I have come across and seems to go straight to the heart of FX. Interested to hear if any think likewise.
It' a program that takes price feed from MT4 and then shows in real time the relative strengths and weaknesses of different currencies (eg. USD, GBP etc., not FX pairs). The idea is that if a currency is strengthening (eg. AUD) and another one is getting weaker (eg. JPY) as shown on the 'strength meter' then it may be a good time to go long AUDJPY.
I'm finding it very useful for selecting FX pairs to trade but so far don't have much experience of it. It comes with an optional strategy for trading on 5 minute charts, which I don't use, though some might find it helpful. But it is a great general purpose tool and i think you could use it profitably with almost any strategy provided it is intraday and short term.
It is certainly one of the most useful indicators I have come across and seems to go straight to the heart of FX. Interested to hear if any think likewise.