How to use the Heart of Forex:
The Heart of Forex can be used for any timeframes and for any of these 26 pairs:
EURUSD-GBPUSD-AUDUSD-USDJPY-USDCHF-USDCAD-EURJPY-EURGBP-EURCHF
EURAUD-GBPJPY-GBPCHF-AUDJPY-NZDUSD-NZDJPY-AUDNZD-CHFJPY-EURCAD
AUDCAD-CADJPY-EURNZD-GBPAUD-GBPCAD-AUDCHF-NZDCHF-CADCHF
I suggest to apply the Heart of Forex on a high volatility pair (i.e. GBPJPY). The Heart of Forex will refresh more frequently because of the more frequently coming ticks.
You don’t need to apply more than one Heart of Forex. It displays ALL pairs and ALL TFs on the same chart regardless which chart or TF it’s apply on.
How to decrypt the HoF colors and values:
5 different colors according to the current price move on a specific timeframe:
BLUE : strong up move for this timeframe
LIGHT BLUE : up move for this timeframe
YELLOW : move is flat for this timeframe
ORANGE : down move for this timeframe
RED : strong down move for this timeframe
The values from -100 to +100 at the top of each column are strictly an average of all displayed TFs for a given pair. You can give more importance to some TFs by setting a coefficient k in the input parameters (default is set to 1 for all, which is the same importance for all TFs).
The real utility of this board is to compare pairs on the same chart. With only one eye you can see if similar pairs move to the same direction.
A good decision tool when you have a “strong” value for the pair you want to trade and if the similar pairs have also good numbers.
Note: keep in mind that it isn't an indicator that can be backtested. It's an instant visual tool for help your manual trading.
Download
Heart of Forex.mq4
The Heart of Forex can be used for any timeframes and for any of these 26 pairs:
EURUSD-GBPUSD-AUDUSD-USDJPY-USDCHF-USDCAD-EURJPY-EURGBP-EURCHF
EURAUD-GBPJPY-GBPCHF-AUDJPY-NZDUSD-NZDJPY-AUDNZD-CHFJPY-EURCAD
AUDCAD-CADJPY-EURNZD-GBPAUD-GBPCAD-AUDCHF-NZDCHF-CADCHF
I suggest to apply the Heart of Forex on a high volatility pair (i.e. GBPJPY). The Heart of Forex will refresh more frequently because of the more frequently coming ticks.
You don’t need to apply more than one Heart of Forex. It displays ALL pairs and ALL TFs on the same chart regardless which chart or TF it’s apply on.
How to decrypt the HoF colors and values:
5 different colors according to the current price move on a specific timeframe:
BLUE : strong up move for this timeframe
LIGHT BLUE : up move for this timeframe
YELLOW : move is flat for this timeframe
ORANGE : down move for this timeframe
RED : strong down move for this timeframe
The values from -100 to +100 at the top of each column are strictly an average of all displayed TFs for a given pair. You can give more importance to some TFs by setting a coefficient k in the input parameters (default is set to 1 for all, which is the same importance for all TFs).
The real utility of this board is to compare pairs on the same chart. With only one eye you can see if similar pairs move to the same direction.
A good decision tool when you have a “strong” value for the pair you want to trade and if the similar pairs have also good numbers.
Note: keep in mind that it isn't an indicator that can be backtested. It's an instant visual tool for help your manual trading.
Download
Heart of Forex.mq4
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