Forexearlywarning has a real time forex scanner that scans the market and signals from The Forex Heatmap® every 5 minutes for new, consistent 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. The alert system can be installed on any tablet or cellphone via browser tab.
The scanner provides flashing visual alerts on your desktop and web browser. When the scanner alerts start flashing on your desktop, you can check the market condition and decide if a buy or sell trade is warranted for any one of up to 28 pairs. This built-in flashing desktop alert system is visible in your web browser, see the examples below. Use of the real time scanner will result in currency traders being able to catch new movements backed by consistent currency strength or weakness across multiple pairs. 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 software app has a simple display and user interface, and price movement creates the scanner signals. When the scanner finds a new, consistent movement starting across one currency, it produces a flashing desktop browser tab notification like the image shown below. The browser tab notifications are a flashing red dot signal when new, consistent currency strength or weakness is found. Each scanner signal is documented with a time and date stamp.
Example Use of The Forex Scanner
If the scanner sends an alert that the AUD weakness is coming into the market and sends a flashing alert, traders should check the Australian Dollar (AUD) pairs when the alert hits. If the AUD pairs have consistent weakness after that, pairs like the AUD/CHF will drop and the EUR/AUD will rise. Both pairs moved on the AUD weakness basis with similar chart characteristics. Several AUD pairs including selling the AUD/JPY was possible in one trading session off of one or two scanner alerts.
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 trading sessions, including the Asian trading session and the main trading session. These are the best times to trade the forex market. The movement was finally exahusted after the main session.
This type of movement of well over 100 pips on the EUR/AUD 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 on the H4 time frame or larger. The AUD/JPY and AUD/CHF both had strong movements as well in the same time horizon after the scanner alerts hit. Overall price movement was in the hundreds of pips for the AUD pairs.
This chart setup is some very simple exponential moving averages for the EUR/AUD pair. But you can also set up your charts to view all 7 AUD pairs on one screen using the metatrader profiles. You can migrate from currency to currency 7 pairs at a time using the hotkeys on your keyboard and find lots more pips faster with our heatmap and professional alert systems like our market scanner system push alerts to your cell phone. Professional trading system!
Why Would A Trader Use A Forex Scanner
Most forex traders are pretty 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 8 different currencies and 28 currency pairs and point them to the best opportunities in the market with timely real-time notifications, the success rate would rise and pip totals would increase. They would be able to use this scanner 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 and time wasters. Our forex scanner software is built in to our website and runs all of the time during forex market hours. The Forex Heatmap® live 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.
Scanner Alerts Delivered To Your Phone
If you would like these forex market scanner alerts delivered to your phone you can download our mobile app. The mobile app will send you the same currency strength alerts with audible and vibrating phone notification features.
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. See the images of our trend indicators above. Traders also need one or more alert systems to complete their trading system. We offer several professional alert systems as part of the Forexearlywarning trading system, 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 is a proven winner for finding good quality trades. Precision trading and real time scanning of the forex market is now possible. Check out our forex market scanner tool and all of our great trading tools on the Forexearlywarning website.