Forex trading often requires keen observation of multiple timeframes. TheStrat TFC Monitor, a trading software designed to streamline this process, offers this efficiency. By providing real-time data on the Daily, Weekly, Monthly, and Quarterly state of the current candle for each timeframe, traders are better equipped to strategize and anticipate potential breakouts.
TheStrat Terminology and Icon Description
TheStrat TFC Monitor employs unique icons to represent different states of the candle on each timeframe. Understanding these icons is crucial for efficient utilization of the software. Three types of icons are used: Circle, Triangle, and Square.
The Circle icon signifies an Inside Day candle, or Type 1 in TheStrat terminology. This icon indicates a phase of consolidating price action, during which traders are on the lookout for a range breakout.
The Triangle icon, pointing either up or down, represents a trending candle, or Type 2. This symbolizes a bullish or bearish trend, indicating that the candle has broken out of the previous range and is now moving in a specific direction.
The Square icon, on the other hand, signifies an Outside candle, or Type 3. This icon signifies two things: one, that the price is undecided about direction on that timeframe, and two, that on lower timeframes, there are likely good opportunities for trading short reversals. The colour of the square, either bullish or bearish, shows which side is currently in the lead.
Customizable Display Settings
TheStrat TFC Monitor MT5 allows users to personalize the colours used for each icon to their preferences. Moreover, the size of the text and icons are also adjustable. This flexibility extends to the timeframe selections. Traders can choose to display the hourly, daily, weekly, monthly, quarterly, and yearly candle states.
The display formatting is also highly customizable. Traders can choose the font colour for inside (Type 1) candles, bullish trending (Type 2) or Outside (Type 3) candles, and bearish trending (Type 2) or Outside (Type 3) candles. Additionally, the font for headings to the candle state icons and the size of the font can be tailored to the trader’s liking. This adaptability allows traders to tailor the software to their visual preferences, enhancing user experience.
Independent Testing and Review Updates
Before investing in any trading software, it is recommended to review independent testing results. TheStrat TFC Monitor MT5 is no exception. Interested users can watch independent testing of this product on the forexroboteasy.com website. Furthermore, to stay updated on the performance and reviews of this product, users can also subscribe to updates on the website.
FAQ
What does each icon on TheStrat TFC Monitor represent? The Circle icon represents an Inside Day candle (Type 1), the Triangle icon a trending candle (Type 2), and the Square icon an Outside candle (Type 3).
Can the display settings of TheStrat TFC Monitor be customized? Yes, both the colours used for each icon and the size of the text and icons can be adjusted to the user’s preferences.
Where can one find independent reviews and testing results of TheStrat TFC Monitor? Independent testing and review updates can be found on the forexroboteasy.com website.
Are you a user of TheStrat TFC Monitor MT5? We invite you to share your experience and insights with us. Your feedback could be invaluable to other traders considering this tool.
Please note that this article is an independent product review. The views and opinions expressed herein are entirely those of the author and do not necessarily reflect those of the product creators or sponsors.
Write review