Have you been looking for more information about the Forex Market Sentiment Indicator, does it really provide traders with accurate statistics on Forex sentiment and is that information even useful for making money? Basically, this indicator is now helping increase our trading accuracy by providing an overall view of all other traders' positioning in the markets that we are trading. This snapshot of the volume of long and short positions gives a good view of the market's sentiment, and this information we have found to be very important for determining major trend turning points.
As can be seen from the screen shot, the interface of this indicator makes it easy to quickly see sentiment in each market, without having to look too closely at the exact figures if you don't wish to. The longs are highlighted in green, while shorts are in orange.
How Can You Benefit From The Sentiment Information Provided By Forex Market Sentiment Indicator?
Knowing the overall long and short positions in each market has many great advantages. This information provides the direction of positions of all Forex retail traders, and history shows that large trends typically happen when the majority are caught on the wrong side of a trade.
This indicator is made to display data directly on the Metatrader 4 Charts, so there is no need to switch around onto other screens before getting this information when you are trading. It displays everything from positioning down to the overall volume traded on both the long and short side. From what we have researched, this information is found directly from retail traders' live accounts through Myfxbook's community of traders.
Is Forex Market Sentiment Indicator Right For You?
After following this indicator and using it in conjunction with our own strategies, we have definitely seen a marked improvement in our trading accuracy. Learning to trade against the majority is the biggest edge that the best investors and traders know how to do, and by having this indicator, you too will be taught how to profit from crowd psychology. Best of all, it also gives trading take profit and stop loss levels, so even beginner traders are able to profit from this indicator even if they have never placed a trade before in their lives...