Forex trading has experienced a significant shift with the introduction of advanced trading software. In this review, we delve into the features and performance of the IG Sentiment tool, a free Forex software designed to provide real-time market analysis and facilitate informed trading decisions.
Understanding the IG Sentiment Tool
Based on the EA IG Client Sentiment, this free Forex software is engineered to read the IG sentiment report on dailyfx.com. The software checks the sentiment report every 15 minutes and calculates the net sentiment using the formula: CHANGE IN LONGS – CHANGE IN SHORTS.
This calculation helps in understanding the Forex trends and the dynamics of the Forex market. The software keeps a record of this value and uses it to determine whether to buy or sell positions.
Trading Mechanism
The IG Sentiment tool opens a buy position if the net sentiment changes from negative to positive, and conversely, it opens a sell position if the net sentiment changes from positive to negative. Utilizing a combination of position sizing and averaging, the software seeks to find a profitable exit.
Once positioned on a single chart, the software accesses all the currencies listed in the report and trades them correspondingly. This feature enhances the ease of trading and allows traders to engage in multiple currency trading.
Operational Parameters of the Software
For the software to function properly, users are required to enable web request for the url www.dailyfx.com. The software is not designed for back-testing due to its nature, and as such, it’s impossible to perform a back-test.
Users are advised not to place the software in multiple charts as it might affect its performance and the accuracy of the results. The software’s operational parameters are designed to provide precise and real-time data, facilitating informed trading decisions.
Free Version and Purchase Options
This free version of the software offers a glimpse into its functionality and performance. Once satisfied with the software’s performance, users have an option to purchase a more flexible version, which offers more features and enhanced functionality. This flexible version provides more control and flexibility to the users, enhancing their trading experience.
FAQ Section
Can I test the IG Sentiment tool?
Yes. Independent testing of this product is available on the forexroboteasy.com website. Subscribers can also receive updates on the testing results of this product.
Can I share my experience using this software?
Absolutely. Users are encouraged to share their experience using this product. This helps prospective users in understanding the software’s functionality and performance.
This review offers an independent analysis of the IG Sentiment tool. It’s always recommended to perform personal research and testing before incorporating any new Forex software into your trading strategy.
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