How to use ProRealTime client sentiment indicator.
Alongside technical and fundamental analysis, client sentiment data can be a useful additional tool for a trader, if they know how to read the changes in positioning.
Client sentiment, which looks at the number of long and short trades on a particular market, is a useful tool in a trading strategy. It is often said that clients look to sell into rising markets and buy into falling ones. There is an element of truth to this, but it is also important to look at turning points in sentiment, when the number of long positions begins to rise or fall. When combined with price analysis, the foundation of all good trading, a useful picture can emerge.
How to add the ProRealTime client sentiment indicator.
1. Right click on chart and the select "Add indicator"
2. Or select indicators bottom left corner of the chart.
3. Then search for client sentiment indicator and select it to add.
ProRealTime client sentiment indicator settings.
1. Client sentiment settings for uptrend (green color/long positions) and downtrend (red color/short positions).
2. Horizontal lines settings: sentiment indicators are numeric or graphic representations of how optimistic or pessimistic traders are about market conditions. This can refer to the percentage of trades that have taken a given position in a currency pair. For example, 70% of traders going long and 30% going short will simply mean 70% of traders are long on the currency pair.
3. Color zones settings.
4. Scale settings.
5. Chart settings.
6. Client sentiment indicator window panel.
For more information visit the following link: ProRealTime
Also share and comment down below on how you use client sentiment indicator in your trading strategy.
All the best - MongiIG