The virtual trade monitor is a type of an indicator which shows different currencies trades by the system. It is a kind of a robot that trades virtually. The trades that you see there are not real but just a virtual thing of what the trader is supposed to do.
Fig.1. Showing the virtual trade monitor loaded on the main trading chart.
Therefore the trader may assume what the virtual trade monitor and open trades when the virtual trade monitor opens its trades. However you have to be very careful and alert since our trades will always be after those of the virtual trade monitor; meaning that you will be placing the order later (after) the signal has already been given and sometime have passed.
From the figure below the labels under the No. B/S column are the types of orders (either sell or buy). Then the labels under the pair’s column are the currency pairs whose orders have been opened. It also indicates how many buy orders and how many sell orders are opened. Then it shows the difference between the buy and sell orders. It also shows the dominant trend of the currency pair that you have opened only. The above figure is empty since the snap shot is taken when the chart is offline. If online the labels would have values respectively.
There are some features of the virtual trade monitor that the trader is supposed to configure according to his or her own taste. These options are as below.
- ShowJumpAlert (true/false). When set to true, the trader will be informed of every jump by an alert box with sound.
- AutoDetect Pairs (true/false). When it is set to true, the Virtual Trade Monitor tests if your broker supports the original currency pairs or the alternative (IBFX) and selects the suitable one. When it is set to false, it uses the IBFX pairs. However trader can overwrite them under “Custom Sell Pairs” and “Custom Buy Pairs”.
- ShowJumps (true/false). When the trader sets it to true, the jumps will be shown by lines and arrows visually.
The above figure shows the show jump set to false. You can notice the line “No pairs jumping occurred until now! Still waiting for next jump”.
- Custom BUY pairs and Custom SELL pairs. It is used only if AutoDetectPairsis set to false! If not, by default the alternative set of pairs is used, but you can put in your own pairs.
- DisplayJumpInfo (true/false). If you set it to true, the Virtual Trade Monitor will indicate below the sums of the sell/buy pairs extra material of the last jump. Especially the time that has elapsed since the jump happened.
- ShowBaskedBackground (true/false). If the trader decides to set it to true, the background of the basket indicator will be colored in red (sell pairs) and green (buy pairs). It is just for aiding in giving a better visual impression and makes it easier to differentiate between the upper “sell zone” and the lower “buy zone“. When set it to false to turn the background shading off.
Download Free Forex Virtual Trade Monitor v2.1 Indicator