What is the Speculative Sentiment Index (SSI)?
Introduction of SSI (Speculative Sentiment Index) Indicator:
The Speculative Sentiment Index (SSI) is a most authoritative indicator,registered under FXCM(Forex Capital market).This instrument presented by FXCM out of many indicators out there such as moving averages convergence divergence (MACD), use historical data to predict move. However SSI analyses recent data to predict moves. Now a days SSI is well thought-out a prominent indicator. It predict change in market before it happen. The index is circulated two times a day by FXCM (Forex Capital market).
Traders in Market:
SSI indicator help you can desig genuine time market idea. SSI indicator indicate buyers and seller whether, they are entering or exiting trade and their position in the market within seconds. A positive proportion specifies more buyers are active than sellers, while a negative proportion specifies that more sellers are active in the market.How traders are performing market activities in respect to a currencies at any time and the thoughts scheme don chart.
SSI works as contrarian indicator which means when other are selling usually traders with SSI buys and when other are buying trader with SSI usually sells, SSI helps you track down budding t opportunities. Pushing price in opposite direction of the trend.
How it works?
It is used to arrange parameters for unpredictable market and retail trader’s data available fills this important gap in information. This indicator allows you to exhibition a line graph for the current trader’s positions.
Different currencies symbols: EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, EUR/GBP, GBP/JPY, EUR/JPY, AUD/JPY, USD/CHF, XAU/USD etc.
Presentation of data:
View a SSI bar graph. Chose a Percentage Extensive to view a line graph with the percentage of current positions of market.
Display Options SSI Indicator:
Select a different color for Positive SSI values and a different color for negative SSI values.
e.g.: Red for positive and yellow for negative ones.
Show +1/-1 for Line If there, show dashed lines at SSI values of +1 and -1
Select Color, width and style options for+1/-1, if there
Percentage Long Display Options of SSl indicator:
- Select line Color for Percentage Long (given color)
- Select line Width for Percentage Long
- Select line Style for Percentage Long
If you Show 0%-100% Level Lines and display lines at 0%- 100% of values
- Lines Color: Select Color for Level Lines, if there
- Lines Width: Select Width for Level Lines, if there
- Lines Style: Select Style for Level Lines, if there
Requirements of SSI:
This Indicator is well-suited with FXCM Trading software. Moreover, an FXCM account is essential for trading with SSI.
Reading signals of SSI:
Using the SSI Indicator is to observe a change. For example, if the index is at a positive level of 6.2 in one reading drops to a level of 1.5, it shows that the movement will change and traders will start buying. On the contrary, if the SSI at rate of-4.8drop to -1.2 shows that selling trend will start.
The SSI indicator register with FXCM shows market behaviors towards currencies and indicate most favorable movement to enter in a trade. It shows movement of buyers and sellers. Moreover the information provided by FXCM does not make them accept liability for losses.
Uses of Speculative Sentiment Index (SSI) Indicator :
Currency pairs: All
EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, NZDUSD, USDCAD,EURJPY, EURCHF, EURGBP, EURAUD, EURNZD, EURCAD,GBPJPY, GBPCHF, GBPAUD, GBPNZD, GBPCAD AUDCAD, AUDNZD, AUDJPY, CHFJPY, NZDJPY, CADJPY, CADCHF, NZDCHF
Trading Time: 24 Hours
Timeframe: Speculative Sentiment Index (SSI) indicator
Recommended broker: All trusted brokers
Remember, Before use Speculative Sentiment Index (SSI) indicator you can test on Demo account. When you will expert then you will use in Real account of trading.