United States: MBOXWAVE LLC has announced new updates to its trading software application for forex traders. Making the announcement, the company’s spokesperson noted that they now offer XPace and XKontrol indicators in the new updates rolled out to customers.
With the new XKontrol Indicator update, traders and users of the online software can expect a visual representation of who is in Kontrol relative to the Tape Speed of the floor. With this new update, traders will access information about who is in Kontrol, the bids, and the offers. Scalpers will get the most use out of this new update.
Diving deep into what the new indicator does, the company’s spokesperson said, “The XKontrol indicator reads the BIDS Being hit and the OFFERS being lifted, and then represents the strength of the Bids being hit and Offers being lifted as dots on the chart. The various dot sizes produced by XKontrol show the level of control the Bids or the Offers have at that point in the chart.”
Explaining how the XPace / XKontrol Indicators by MBoxWave work, the company noted that traders and users should watch out for the dots, which are the major indicators. As the dots grow larger, the level of Kontrol increases. The dots are also in three major sizes; small, medium, and large. Each of these sizes presents Initial Kontrol, Strong Kontrol, and Total Kontrol. A trader achieves total Kontrol only when their bids or offers dominate at the time.
New users looking to get started on the feature can log in for more information. They can also watch out for the bid dots as they increase in frequency and size as it shows the bids in Kontrol and dominating. Users can watch out for the large dots, which generally indicate a strong sign of the direction that prices may go. They can also use this information to detect the highest price peaks, which may also mean price reversals.
The XPace Indicator added on as a new feature leverages the original indicator, MPace, and measures the Tape Speed of the floor. With this measurement, it’s easier to see the important pace and filter the noises to make accurate trading decisions. The new feature represents a histogram view of the Tape Speed of the floor and is represented as the red and green bars drawn in the histogram view.
Traders can watch for bids in Kontrol by looking out for the red histogram bars as they grow larger and increase in frequency. The green histogram bars show the offers in Kontrol.
Get started with the new features offered by MBOXWAVE LLC. Visit their website for more information.
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