It’s now again possible to use the forex scanner. We have received a lot of inquiries since it was taken offline and it is now possible to subscribe to it via Henroy’s website.
What can the scanner do?
The scanner provides a good overview of which currency pairs that trends and on which time frames they trend. It can, therefore, save you a lot of time as you can concentrate your analysis on the currency pairs that the scanner points to is interesting.
The scanner is made up of two different indicators, EMA and MACD and is updated every 5 seconds. It shows the strength of the different currency pairs on the daily graph, 4-hour graph, 1-hour graph, 15-min and 5-min graph, respectively. It will soon be possible to connect alarms for buy and sell signals.
Additionally, the scanner shows which currency pairs are strong/weak so you can identify the pairs that are strongest/weakest towards each other.
How has the scanner improved our trading?
The scanner is not a “holy grail” – it’s a useful tool that has minimized the time we spend analyzing the market for potential setups. In addition, it has resulted in the fact that we have reduced the number of missed setups as we know which currency pairs are trending and also what currency pairs are the best trade against each other (for example, the euro may be very strong on all timeframes , and the dollar is weak on all timeframes = look to buy EURUSD).
Let us know if you have any ideas for upgrading the scanner!