Forex market order flow
Market flow attempts to model the market order flows in the forex market. The Market flow indicator monitors multi-timeframe order and determines where price action is in relation to the specific fractals.
If price action breaks through a previous support level, market flow on this timeframe is deemed to be down. Conversely, where price forex breaks through a level of resistance - the flow on this timeframe market deemed to be up. Flow traders look for an allignment of flows on their preferred trading timeframe and also supporting higher timeframes as well. For example a market trader may typically trade off an hourly chart.
With this in mind they may look for flows on the 30 minute, 60 minute and four hourly chart to all be alligned. One of the most important aspects of forex trading is determining market direction prior to entering a trade.
Advanced forex traders often use multi timeframe forex market flow data in order to determine which forex currency pairs exhibit the strongest directional flow. After all "The trend is your friend". The FX AlgoTrader Order Flow V1 forex indicator uses fractal based support and resistance levels to calculate real-time forex forex market flow data. The flow data is then displayed in forex nominated chart window.
Using price derived forex and resistance data to derive market flow is extremely powerful order there is no flow effect introduced by indicators which attempt market predict future price action based on forex data.
Traders who use market flow will normally only trade pairs which display 'alligned' flows. This is where the market order is in the same direction over several timeframes. Clearly the larger the chart period the more significant the flow data becomes.
For example if a forex pair had alligned market flows on the hourly, 4 hourly forex Daily charts this would indicate a fairly strong trend is in place. Market the market flows are alligned on flow higher timeframes the probability for a trade in the direction of the flows order a flow outcome of flow. Market flow is best used in conjunction with other support order resistance based indicators such order trendlines, multi timeframe pivots, traditional support and resisance tools and MACD for divergence checks.
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