Forexearlywarning has a real time forex scanner that scans the market and signals from The Forex Heatmap® every 5 minutes for new movements. The scanner works continuously at 5 minute intervals during all forex market hours. The scanner uses currency strength to screen 8 currencies, 28 pairs, for new and consistent movement cycles. When a new currency movement is detected in the market, the scanner gives the end user a flashing desktop notification in your web browser.
When the scanner alerts start flashing on your desktop, you can check the market condition and decide if the buy or sell trade is warranted. The built-in flashing desktop alert system is visible in your web browser. Use of the real time scanner will result in currency traders being able to catch new movements backed by consistent currency strength or weakness. This forex scanner system requires no programming and is ready use after you login to our website.
Here is what the forex scanner tool looks like. This forex screener/analyzer software has a simple display and user interface, and price movement creates the scanner signals. When the scanner finds a new, consistent movement starting, it produces a flashing desktop browser tab notification like the image shown below. The browser tab notifications work on your web browser and produce a flashing red signal when new, consistent currency strength or weakness is found. Each scan signal is documented with a time and date stamp.
Example Use of The Forex Scanner
In the example above, consistent Australian Dollar (AUD) weakness was detected at 620 GMT. The AUD pairs had consistent weakness after that for about 12 hours from the Asian session into the main session. Pairs like the AUD/CHF and EUR/AUD both moved on this basis with similar chart characteristics.
When the scanner first detected the AUD weakness movement starting, the percentages on The Forex Heatmap® were low at 0.20%, but consistent, at the beginning of the movement. Then the AUD weakness continued through both forex session times and into the main trading session before the movement was finally exhausted. This type of movement allows traders to enter the trade, set stops to break even, and scale out any profitable lots. Traders can then continue to monitor the trade for more upside if they are trading in the direction of the major trends.
Why Would A Trader Use A Forex Scanner
Most forex traders are lost. They trade the same pairs over and over, scalping on the smaller time frames with technical indicators. If a trader could have a tool like a forex scanner to scan 28 currency pairs and point them to the best opportunities in the market with timely real-time notifications, the success rate would rise. They would be able to use this tool daily and have a chance to make substantially more pips.
We have seen several forex market scanners or market analyzers, and we believe that this is the best forex scanner available. This is because this scanner is based on parallel and inverse analysis and currency strength trading principles, which are proven, tried and true. Forex traders now know this, and they also know that technical indicators are ineffective. Our forex scanner software is built in to our website and runs all of the time during forex market hours. The Forex Heatmap® currency strength meter also has fully redundant backup systems. There is absolutely no programming needed by the end user.
Our forex scanner tool works for 8 currencies, 28 pairs total. It scans the USD, CAD, EUR, CHF, GBP, JPY, AUD and NZD pairs for new movements. These are the 8 most actively traded and most liquid currencies..
Besides a Forex Scanner, What Other Tools Do Traders Need
Along with a real time forex scanner, traders need a simple set of trend indicators so they can know the direction of the major trends on the pair they are considering trading. Traders also need one or more alert systems to complete their trading system. We offer all of these tools at Forexearlywarning, along with the forex market scanner.
If you are a forex trader and are looking for a real time forex market scanner that points you towards new movements in the market, the scanner/heatmap combination should work well. Precision trading and real time scanning of the forex market is now possible. Check out our forex market scanner tool as part of your Forexearlywarning.com subscription.