FXSSI Calendar Indicator, Master Market Timing

Description

FXSSI Calendar Indicator

News has a big impact on currency pricing, as you probably know.

Certain economic events, like the FOMC or NFP, might have an immediate impact on an asset’s value.

Traders may overlook the release of less significant news at first sight. Your indifference to calendar news events, however, may cause you to miss a significant reorganization of positions by the vast majority of forex market players.

Thus, monitoring economic calendar events becomes a crucial component of a trader’s trading strategy because of the erratic price response to news releases.

However, occasionally, for technical reasons, the news websites for following the Economic FXSSI Calendar Indicator could not be accessible. The human element also plays a role; if you’re preoccupied with business, you can neglect to review the news calendar prior to the next trading week.

We advise you to familiarize yourself with the Calendar indicator to determine whether it will be a beneficial addition to your trading strategy in order to prevent such circumstances and to always be aware of upcoming happenings in the currency market.

An explanation of the Economic FXSSI Calendar Indicator

The fundamental details of the FXSSI Calendar Indicator, including the news event’s date, time, currency, and significance, are automatically shown on the MT4 terminal chart by the free Calendar indicator.

The very fact of the publication is displayed with vertical lines, and the importance of the news is indicated by stars and increases from 1 (less important) to 3 stars (more important).

Thus, displaying basic information on news events, the Economic FXSSI Calendar Indicator completely solves its task – does not let the trader forget about important news.

The indicator displays not only future events but also past events. Thanks to this you can not only analyze the price behaviour during the news release in the past but also apply the conclusions in your future trading.

The Economic FXSSI Calendar Indicator features

You can learn more specific and lucid details about the news happenings thanks to the indicator’s capability.

To accomplish this, move your cursor over the currency’s name. A tooltip with the published news will then appear. When you left-click on the currency name, a table with details about the news event will appear in the lower-left corner (you may choose the location in the indicator settings).

The indicator data is updated hourly by default. However, this time can be manually lowered to five minutes in the indicator settings if needed.

• You can navigate between the recently released news and the upcoming economic events by using the forward and backward buttons beneath the table.

Since Investing.com and ForexFactory.com are two trustworthy websites that provide news items, the indicator’s depiction of economic FXSSI Calendar Indicator events is always current.

The indicator will utilize the data from the second site if the first one is not accessible.

You can manually prescribe a short name for the currencies you are interested in trading in the indicator settings if you trade multiple currencies. Only those economic calendar events that match the currencies you chose in the parameters will then be shown on the MT4 terminal chart.

Why is it important to be aware that Economic FXSSI Calendar Indicator news is being published?

By understanding the timing and significance of upcoming news, you can proactively protect your open positions from increased volatility by adjusting your stop loss to breakeven when necessary.

If your trading system signals a trade entry, you can review the economic events displayed on the chart to determine whether it’s a safe moment to enter the market.

The News Events Indicator offers several advantages:

• Presents up-to-date economic calendar information in an easy-to-read format.

• Allows analysis of past price reactions to news releases.

• Enables quick assessment of the news environment before opening a position.

• Features a color scheme that is subtle yet noticeable, avoiding distractions.

One limitation of this indicator is that it does not show the actual data released during news events. However, this design choice was intentional — the developers aimed to create an informative yet unobtrusive tool that won’t interfere with your forex trading.