This tutorial will cover how to monitor 28 Forex pairs in a single screen from the Forex Board.
Add the 'Forex Board' to your chart.
(Select the 'Background' color 'Dark Roast' to see well all the color variations in the board.)
The 'Forex Board' displays all of the 28 major/minor Forex pairs.
Each pair is clearly displayed as going up (in blue) or down (in red).
Look at the color once a day on a daily chart. At the end of the daily bar (NewYork session end), we verify if the color is still the same as the previous day. If the same, the trade remains open. If different, we close and open in opposite direction since the trend turned. Takes minutes to monitor 28 pairs.
Let's cover the main settings.
The default 'Color' mode is 'Intensity'. This shows the trend intensity of each pair.
Or use the 'Plain' color mode:
Different filters are available.
Check the box 'Strong/Weak' to increase probabilities.
For each currency PAIR, this filter shows when one currency is gaining value (the strong) while the counter currency is losing value (the weak).
There are moments where:
• Both currencies of a pair are gaining value. (Even though one currency is gaining more value than the other.)
• Both currencies of a pair are losing value. (Even though one currency is losing more value than the other.)
Those pairs then tend to go sideways and to go through many pullbacks.
For solid, longer, safer, easier, more powerful and steeper trends, there are moments where:
• One currency is gaining value (the strong) + the counter currency is losing value (the weak). This is ideal.
This 'Strong/Weak' filter shows these moments where both currencies of the pair are going in opposite directions (one currency is trending up + the counter currency is trending down).
Or check the box 'Flat Filter'.
This filters out the portions where the market is flat.
Or Check the box 'Trending'.
This filter keeps only the portions where the market is trending.
Or use all or a combination of the filters.
Here's 'Strong/Weak' + 'Flat' + 'Trending':