Phoenix Sentiment Indicator for NinjaTrader
“Sentiment” is defined as an “underlying feeling, as distinct from the action that it brings about”* – which is THE way to define one of the holy grails of trading: when is the market going to turn? We, the retail currency and forex traders, don’t always realize the need to define the sentiment of the institutional desks – which is that feeling the trader gets when a market is beginning to turn. Every trader gets them – but only the best can react to it and profit from it by taking the position that is right around that proverbial corner. How, then, can we not just feel but actually “see” when this sentiment is nearing a change?
The Phoenix Sentiment Indicator is THE tool that provides the graphical interpretation on how to identify either a coming trend or one that is either ending, or “turning”, as in a swing trade. Many traders make the mistake of exiting a trade early or entering a trade too late because they don’t have the right information in front of them. Often based on guesswork – that “feeling” – but we believe that trend change can be quantified with the right interpretation of data; and that this indicator is a key component in confirming when a new trend is beginning as well as one that is in its final stages and slowing in its directional speed.
Once you learn how to use it properly with our Phoenix Trading Strategy you will see how powerful this excellent indicator is. Importantly, it not only works with Currencies and Forex but also with Commodities. It’s simple-to-use and attractive graphics make it an indispensible part of your trading toolkit.