Ideally, this is we hope :
- The good numbers on news should make the related currency become stronger,
- and the bad numbers on news should make the related currency become weaker.
But the fact is:
- The good numbers on news that has been written on the economic news calendar could not always instantly make the related currency become stronger.
- and vice versa, the bad numbers could not always instantly make the related currency become weaker.
Before placing new position:
- We need to know which actually strengthened or weakened between the related currency after the news released.
- The market reaction to an economic news or a central bank speech, is market sentiment.
What is Market Sentiment indicator
- This indicator is designed to see opportunities in economic news events, or during a central bank speech.
- Market Sentiment indicator is monitoring the movement of currency index strength between USD and Euro at the event.
- Regardless of the numbers in economic news, Market Sentiment has conclusion which actually strengthened or weakened between USD and Euro.
- Market Sentiment is a technical indicator that contains the results of the fundamentals.
- Market Sentiment has 5 reflections of market action in time frame: H1, H4, Daily and Weekly:
- USD strengthened, and Euro weakened
- USD weakened, and Euro strengthened
- USD and Euro in sideways (mixed)
- USD and Euro are both strengthening
- USD and Euro are both weakening.
- The green represents strengthen, and red represents weakening.
- Before actually strengthening occurs, it will start with a number gradually ascending from red to green.
- Before the weakening occurs, it will start with a number that gradually decreases from the green to red.
- This is suitable for trade EURUSD, USDCHF, GBPUSD and EURGBP.
How to use Market Sentiment
- Look at the website that providing a real time Economic News Calendar,
- Change the time setting to match your location.
- Wait for news that have a Moderate or High Volatility as market expected.
- At the time news announced, wait for 15 minutes for monitoring Market Sentiment.
- Usually, within 15 minutes then Market Sentiment has conclusion which is strongest and weakest between USD and Euro,
- or even range bound (sideways).
- Market Sentiment can also be used for scalping.
Input parameters
- Suffix Currency Pair - Leave it empty if your broker does not have suffix currency pair. e.g. EURUSD, USDCHF, and so on. If your broker has suffix like EURUSD m , EURUSD i , etc, then you should enter with m , i , and so on. Default is empty.
- Display Jump-Fall Daily-Weekly - true is for displaying "how far" price will jump or fall. Default is true.
- Display text-price - true is for displaying the price on jump/fall levels. Default is true.
- leftmargin - is margin left for displaying Market Sentiment. Default is 50.
- bottmargin - is margin bottom for displaying Market Sentiment. Default is 80.
