This is a simple guide explaining what you can see inside the QuantDS FX data. We will show you here the features of QuantDS FX and explain their functions. (Click images to enlarge.)
QuantDS FX Features
QuantDS FX Dashboard
The QuantDS FX Dashboard displays the summary of all the information for each stock from the main QuantDS FX sheet. The Dashboard can also be considered as a Forex trading screener because in just one look, you can easily see only the most important information you might need to trade the currency pair of your choice.
TMI (Tata Mich Indicator) Score
Looking at the main sheet of QuantDS FX data, you can see at the top row is the TMI score for each major currency and commodity. The TMI score quickly tells if the currency is weakening or strengthening. A forex pair with a weakening base currency and a strengthening quote currency is a good candidate for short selling, while a pair with a strengthening base currency and a weakening quote currency is a good candidate for long position.
Currency Pairs with Suggested Opening, Closing, and Stop Loss Prices PLUS Risk Management
The first columns in the main sheet of QuantDS FX data shows the currency pairs (majors and exotics) with suggested opening, closing, and stop loss prices. The Risk Management column shows our suggested trade for each pair. Open Position means 'Buy or Long Position', while Close Position means 'Sell or Short Position'.
Daily Closing Price, Percent Change, and Candlestick Pattern
This portion of QuantDS FX shows the previous day data of each stock including the daily closing price which is based on New York closing, percent (%) change from the previous day, and candlestick pattern.
This portion of the QuantDS FX data shows the Trigger Price of each currency pair including the Top and Bottom Trigger Stop Prices. The other columns show the percent (%) difference of the Daily Closing Price from the Trigger Price, and how many days the Closing Price is away or behind from the Trigger Price. Remember, the Trigger Price acts like a magnet. Whenever the price moves away too far from this price, expect that it will reverse at any moment and return to or near the Trigger.
Trade Condition and Recommendation with Certainty Percentage
This is the heart of the QuantDS FX data which will help you in making your trading decisions. The Trade Condition columns show the Trigger Trend (based on Trigger Price) and Position Trend of each currency pair. The other columns show our recommended action with percent of certainty and our switch trade recommended action in case the first recommendation fails.
The Price Spread
The QuantDS FX Price Spread shows the 10 support/resistance price levels of each currency pair which includes the following: Breakout, Strongest Resistance, Tranche Sell, Uptrend Hold & Support, Trend Reversal, Downtrend Resistance, Immediate Support, Bottom Support, and Breakdown.