This is the advanced version of the Basic Heatmap Indicator.
This is an MT4 indicator made for users looking to measure the movement of one currency agains another. This comparison provides a quick and simple analysis of the market. The data is displayed in a color coded chart according to their movements. This explains how the currency is trading in comparison with other symbols that the user can select. The color intensity, green or red, shows the strength of the move. The color helps the user to identify the major moves and their respective trend, bullish or bearish. This indicator shows 6 symbols compared to each other in 4 time frames, providing a separate chart for each time period.
The Advanced Heatmap Indicator looks for the directional change in the opening of a candle and the current price of the symbol chosen by the user. This indicator is not a trend confirmation, but rather an instant preview of the movements in a currency in several time frames.
- Currencies: The user can choose up to 6 symbols to be compared to each other.
- TimeFrames: The user can enter up to 4 time frames in which the currencies will be compared to each other.
Software Requirements: Windows OS, platform Metatrader 4.