We created this Real Time Forex Heatmap page as a free tool for you to guide you in your trading journey.
With the below chart, you can clearly see which Forex pair is the strongest and the weakest. Trend Traders will particularly like this feature that we have just added as this is an indication of trend strength for the respective Forex pair and you can also see the strength in different time frames by just taking a quick look at the chart below.
Probably the best way to use this Forex Heatmap is get an idea if the particular Forex pair is trending consistently. If you see red across all time frames, then it’s time to take a look at the charts in your MT4 Platform for confirmation and to use the indicators that you are comfortable with to make an informed trading decision.
This works out extremely well when using on higher time frames. The lower time frame like the 1 minute time frame is just simply too volatile and can change almost instantly. Try using on higher time frames like the 4 hour time frame or at least the 1 hour time frame as it provides a better indication of the strength and direction of the trend.
As an example, if we want to trade from the 1H chart, it’s always a good idea to take a look at the 1H heat map. Then zoom out further by taking a look at the 4H time frame to see if the longer trend is also with the 1H time frame that we want to trade. If both are heading the same direction, then it’s time to go to your MT4 charts to find the right entry point. We like to use the support and resistance level as entry points. Alternatively, you can also use the Fibonacci Pivot Strategy to enter into position.
All in all, this is a Free Forex Heatmap for you to gain new daily trade ideas in real time and in one quick glance.