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Tuesday, 17 February 2015
THE TIGER TIME LANES FOREX TRADING SOFTWARE
he Tiger Time Lanes are a unique piece of forex software that enables traders to more easily predict what will happen to price over various different time frames. They are referred to as the tiger time lanes because of their unique colour structure (resembling the stripes on a tiger) that enables you, the traders to determine price momentum over four different time frames at a glance with the way in which the information from the individual time frame is arranged into neat lane akin to a motorway / freeway. Each individual’s currency pair’s lanes are aligned together forming a matrix (commonly referred to as a grid in our trade room)
How are The Tiger Time Lanes calculated?
The algorithms and equations that are made to determine the levels shown on each lane are based on fibonacci calculations. There are two principle components that make up the ingredients for the trading signals. The first is seven linear weighted fibbonacci levels. Of theses seven the three most important are represented by red, green and black discs with the other three shown as price levels. The second is the level of orange layering (often referred to as band shades). These are based on previous price movement on each particular time frame. The point of change between two colours is a significant barrier and the level is shown at the change. Both of these components are dynamic meaning that they are constantly being recalculated with each tick.
How do we use The Tiger Time Lanes to forecast price movement ?
When brought together signals are created through the patterns that are formed on the grids. The time frames on the default version cover the shorter time frames 1, 5, 15 and 60 minutes and so are predominantly used for scalping strategies When price action and current market conditions are factored in by the trader the signals that are provided become extremely powerful with certain patterns achieving success strike rates of 70 to 80%.
The two principle components of the Tiger Time Lanes the levels marked by disks and the line of demarcation between two shades of orange layers provide levels of support and resistance. Although at first glance you might think that the grid looks very complicated, it is in fact based on the simple principle of support and resistance. When several of these levels combine over different time frames the stronger the level of support or resistance is at that point. So if, when looking at a grid for a particular pair you see the levels in and around the same price point on all four time frames then that indicates a relatively strong area of support or resistance.
In addition price and the one minute discs are, in a ranging market, fairly close together. If price breaks out then the one minute disc 1 and 2 quickly follow. If prices moves too far away from these two disks then it is usually an indication that the market is over extended. Either price will have to spring back toward the disk or it will have to hold while the disks catch up. Imagine price being on a piece of elastic attached to the one minute disk one. If however, price completely runs away from the one minute disks then the probability is that a significant move in the market is happening (imagine the elastic breaking). Instead of looking for retracements we should in this scenario be searching for entries to go with the price.
This is just the very basics, the patterns that are formed on the grids by the disc positions and the band shades provide a multitude of trading opportunities. Indeed these patterns themselves create a pattern in the order in which they are formed. This is particularly powerful as it can tell you where in the price cycle you actually are. There will be much more on this in future articles.
Original Article On Our Forex Trade Room Site www.24hrforextraderoom.com if you are interested in finding out more about a live forex trade room just follow the avobe link.