When trading forex live, being able to spot forex trading signals across numerous currency pairs and multiple time frames is very difficult. Inevitably, good trading opportunities, particularly in terms of price action scalping, will be missed.
The updated forex TimeLanes software allows a trader to see forex trading signals across numerous currency pairs at a glance by showing multiple time frames on a single chart. This allows the monitoring of more pairs, meaning many more potential trades.
Traders have seen immediate benefits. “Real time analysis, straight away, makes trading as simple as at a glance. Trading across multiple time frames with the software and the charting, it’s fantastic. I’ve gone from success from success using it. What makes it work for me is the software can be used to determine high probability trades.” Sukh Kareer, Professional Trader
The TimeLane for an individual pair usually takes up less space than a single traditional chart. Up to nine different time frames, in any combination, can be viewed on a single chart giving the trader great flexibility.
Most importantly, the trading information is displayed dynamically so that areas of support and resistance and Fibonacci levels are automatically recalculated with every market tick. Easier cross currency analysis is now possible as major and cross pairs, covering multiple time frames, can be viewed side to side, helping achieve more accurate entries and exits.
The dynamic element of the TimeLanes provides them with another of its main advantages over traditional charting in that it creates distinct patterns that align to the different phases a currency pair can cycle through. Knowing precisely where in the price cycle a currency pair is at any given moment, by just glancing at a chart, is very important especially when reacting to trading opportunities.
Giving such a huge amount of information on a single chart is proving to be beneficial to trader’s judgements. “The TimeLanes give me a lot more confidence to enter trades…knowing 8 or 9 times out of 10 I will come out of that trade in a positive mode, it has done wonders for my trading” Robert Salter, Professional Trader
The new software now has two versions, a cloud based solution and a Meta Trader 4 plugin. The difference between them comes down to preference of use. Whilst the Meta Trader 4 version allows the trader to trade directly from the charts, it has a fixed number of four time frames on each grid. The cloud based solution however, is a complete charting solution, that has a great deal flexibility, in how a trader wants to set up their charts,built in. As well as the nine timeframes available it also has the facility to create trading personas for different style of trading which can be toggled between in a couple of clicks.
The TimeLanes are clearly helping forex traders. “The grid system works. Following their trades works, you make money. Having the support of the room when you are following your own ideas, is invaluable” Catharina Birchall- Former Interbank Dealer 20yrs experience.
More information on the forex TimeLanes is available on their website
Release ID: 108848