What is the Fxsentiment Indicator?

Fxsentiment Indicator is an indicator that shows the percentage between the buyers and the sellers at a given time in the market. The strength of the bulls is shown in green, while the red is for the sellers. And is displayed as a percentage. Which side is bigger means market sentiment is leaning on that side. You see the chart below:

Benefits that the indicator brings
  • Based on this information traders can see the current strength and direction of any market, any product.
  • This indicator can be easily combined with other technical indicators to filter out noise signals, or traders can also be used to exit pending positions.
  • This indicator is very easy to use and is very helpful in increasing the confirmation of a trading signal.
  • This indicator is applicable to all markets such as foreign exchange, stock, commodity, and other markets. The same applies to all timeframes.
Set parameters for the indicator

The input you install is shown below:

The color of the brothers can be adjusted according to personal preferences. Once installed, our chart interface will be as shown below:

Applying the indicator to the trading

The main role of this indicator is to confirm trading signals and at the same time help you eliminate many interference signals.

For example, if you trade a pullback to follow the trend, the criterion to enter an order will be the market having a strong trend and forming at a strong support or resistance level. At that time, you just need to check the percentage of buyers and sellers at that time. If the percentage matches the order signal then we can enter an order. Such as set up buy trades coincided with that time the buyers accounted for 80%. Thus the probability of price increase will be higher.

However, we note the following:

If the strength of the buyers:
  • Accounted for over 60%: Weak buy signal
  • The war over 70%: Clear buy signal
  • The war over 80%: Strong buy signal
  • Accounted for over 90%: overwhelming buying signal
If the strength of the sellers:
  • Accounted for over 60%: Weak sell signal
  • The war over 70%: The signal is sold clearly
  • The war over 80%: Strong sell signal
  • Accounted for over 90%: the signal was overwhelming