Looking for trade opportunities? Identify congestion of indicators with our unique Technical Confluences Indicator!
Besides providing Forex analysis and news, FXStreet offers free and valuable tools for the trader, such as charts, rates table, forecasts, economic calendar, just to name a few. We’re very happy and proud to present you our brand new Technical Confluences Indicator. This in-house tool is a practical way to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, among others. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies. It’s available for 9 currency pairs.
With the TCI tool, you can intuitively identify areas where the price can find a support or resistance zone and make trading decisions based on reliable data
How to use it?
If you are a short-term trader, you will find entry points for counter-trend strategies and hunt a few points each time.
If you are a medium- and long-term trader, this tool will allow you to know in advance the price levels in which a medium / long-term trend can stop your travel and rest, where to undo positions or where to increase your position.
And do not hesitate to send us your feedback. This is a new tool and it can certainly be improved, so your opinion will be appreciated!