Surprise! Today, after months of testing and weeks of work, we rolled out our revised FX Levels service. This includes additional levels on the market, including the Pressure Thresholds that have worked so well in futures. We now have:
Break Levels
Value Area
Pressure Thresholds
4 Tri-Star Levels
Expanded Pivot Series (R4 through S4)
The existing eSignal tool will not work going forward. The newest version of the tool can be downloaded from the website by going to the About Us menu and eSignal tools when you are NOT logged in. The fastest thing to do is to close eSignal, uninstall the Tradesight Installer Suite from Control Panel, and then install the new one from the website. All of your studies should still work, except you’ll have to remove the FX Levels 1.3 from each chart and add the FX Levels 1.4 tool.
As you can see in the charts below, the Value Areas are now shaded, which is a very useful visual indicator as many people have commented about the Futures tool (which has had this since March). In addition, you can turn on/off each level if you don’t want some.
And finally, there is now backtesting built into the tool. If you right click on the chart and go into Edit Studies for the tool, you can put in a date in the first field and hit OK. The Levels will be redrawn on your chart for that date, so you can see how they lined up that day (or use Bar Replay mode to make it play out live). Any date prior to today’s will only show the starred levels, Breaks, and Value Areas.
We will be adding a segment to the Forex course soon regarding the Pressure Thresholds and their use.
Meanwhile, another day of no action and stop outs in the EURUSD. See that section below as we head into Friday and wind up Q3.
Here’s a look at the US Dollar Index intraday with our market directional lines:
New calls and Chat tonight after 5 pm EST when the new levels come out after global rollover.
EURUSD:
Triggered long at A and stopped overnight (note the use of the UPT). Triggered short at B and stopped:
