Forex Quotes on the Desktop

I had looked in the past for a desktop application that produced real-time forex quotes with little success until now.  Oanda FXLabs has a ticker widget that can be used with Yahoo's Widget Engine.  The widget sits on your desktop and updates currency prices real-time.  It's pretty nice.  You would also need to download the Yahoo Widget Engine.

Oanda FXLabs has some other interesting apps located at http://fxlabs.oanda.com/cgi/fxlabs.pl

Here is a little screenshot of it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Popularity: 2%

Raghee Horner’s EZ2Trade

EZ2Trade is an esignal add-on based on an approach called "Three Classic Tools to a Three-Step Set-Up."  These automated studies allow you to automate trendlines, support and resistance, fibonacci levels, minor highs and minor lows, the wave, candlestick patterns, pivot points, and trailing stop/strength indicator. 

I recently added this to my esignal plan in an effort to try to emulate these studies into a custom indicator that I will write.  The reason behind this is the cost.  To subscribe to this it costs $195 per month. 

After using this for the last 2 days, I cannot express how valuable I find these studies.  I’m a busy guy and trying to follow multiple currency pairs during multiple time-frames can be quite a task.  EZ2Trade automatically creates trend lines and support and resistance directly on the chart.  Without this tool, creating trend lines manually tends to be the most time consuming task.  It’s actually amazing how well the add-in was designed, how accurate the lines are, and how customized you can make it.

Another component of EZ2Trade that I’ve found useful is the Candlestick Pattern component.  This identifies candlestick patterns as they develop on your chart and places a unique icon under the candlestick.  So if a morning star develops on your chart, this will identify it and notify you.  This component  is also customizable and you can add, delete, or modify patterns using your own set of criteria. 

You can read more about his add-on on esignal.com if your interested.  I’m finding that I am becoming dependent on this more and more by the hour.  It truly is an indispensible add-on.  In addition, it is looking like a project to develop such an indicator may be quite an undertaking.

**UPDATE**

I found out that Raghee Horner doesn’t actually own this product.  It is developed by a company named Divergence Software and if you purchase it through their website, the price is substantially cheaper.  You would need to purchase S/R Analyst which is $350 a year and if you want the Candlestick pattern component, that costs $75 (one-time fee).  That’s an unbelievable discount of $1915 for the year.  You almost wonder how Horner charges that much.  Could it be that she includes her Daily Forex Report.  I don’t see how that could be worth the 2 grand.  For only $350 a year, I probably won’t even bother trying to write such a custom esignal add-on.

Popularity: 2%

eSignal Training

Some of you are probably well versed with eSignal but for those that are not or for those that don’t use eSignal, here is your chance to check it out.  eSignal is offering web-based training tomorrow at 4:30 pm EST (9:30 GMT).  It does not require pre-registration. 

<http://esignal.breezecentral.com/r89541042/>
How: Click the link above and choose  "Enter as Guest"

 Agenda:

An intermediate level class introducing the basics of eSignal including the
following topics.

- Style Templates
        - Building & Customizing Style Templates
        - Loading Style Templates

- Time Templates
        - Defining a Time Template
        - Building & Applying a Time Template
        - The Auto-Time Template

- EFS Basics & Resources
        - What is EFS?
        - EFS Editor & Formula Wizard
        - EFS Help Center & Additional Resources

- 15-20 minute Q&A

Popularity: 2%

eSignal Advanced GET Charts

I am very impressed with the Advanced GET Charts that are provided by eSignal on behalf of forex.com.  Though they only provide me with a subset of what I had with Intellichart Desktop, I didn’t really use everything that Intellichart provided.  eSignal actually allows me to take the minimalist route when it comes to indicators.

My favorite feature that I didn’t realize Advanced GET had was the "magnet."  This "snaps" the trend line on the high or low of the candle automatically so you can be as accurate as possible.  

You cannot beat FREE charting with this functionality. 

 

 

 

 

Popularity: 1%

eSignal Advanced Get Charting

I received my welcome email for eSignal’s Advanced GET Charts.  I opened a broker account with forex.com and they offer Advanced GET for free as long as your balance is over $1000 and you make 10 trades a month.  I don’t have a lot of experience with eSignal.  I’m hesitant to move off Intellichart Desktop which I like a lot but we’ll see. 

Your Advanced GET Charts account has been activated.

Download Advanced GET Now
Advanced GET Charts requires an easy, one-time installation. To view the installation instructions and start the process, click here:
http://www.forex.com/forex_charting_advancedget.html#inst

Your user ID and password are provided below. This information is required to login to Advanced GET Charts and will remain enabled as long as your trading account is active and in good standing.

Popularity: 4%

Forex.com free software

I use FXCM as my online broker but only because I’m comfortable with their trading system.  It is nothing spectacular and their charting options are terrible.  I received an email from forex.com and they offer the following free of charge:

eSignal’s Advanced GET - This robust charting package features over 30 studies, Fibonacci drawing tools, a page saving system and much more. Click here for more info, including a preview of Advanced GET.

ProSticks Real-Time JavaChart – Available at no charge, ProSticks is a robust, yet easy to use charting tool and comprehensive technical analysis package.

I’ve checked out CMS Forex also and their trading platform is excellent.  They provide VTTRADER which I think may be better than esignal.

If anyone has any suggestions for online brokers, feel free to post.  

Popularity: 2%