Here is a quick example of how to use Fire Charts to analyze MTF signals and other trade setups.
*NOTE: When this video was originally recorded Fire Charts was in its early stages of development. As valuable as it was then, even without live price data, it’s evolved into an even more powerful tool today. There are tutorials with newer versions of Fire Charts, but this one is still a good quick overview of how to use Fire Charts to analyze trade setups and validate MTF signals.
If #FireCharts look new to you, it’s because it is. Although they are still in development our team has been finding a variety of ways to to use order book data to analyze trade setups. As a stand alone tool it works great. Priceline and other features have already been added since this recording and additional functions and UX enhancements are in process now. But even in it’s unfinished form, #FireCharts are proving to be a valuable tool for identifying resistance, support and liquidity holes in the order book. When used alongside our MTF Reversion Indicator, Fire Charts, truly are FIRE.
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We are not financial advisors and nothing should be deemed as financial advice or trading advice. Trading is risky. Never risk more than you can afford to lose.