Here's another tool that we have never seen in any other 'retail' platform. TopGun Software is an institutional trading platform geared towards professionals and money managers. One of the reasons we give it to Forex traders free who trade with us (Plus pay their eSignal fees) is because our software works and it gives most traders the edge they need to make money.
Probability bands use each Currency's Option Implied Volatility to predict Likely Highs and Lows.
These bands show the 65%, 80%, 88%, and 95% High and Low for the Day.
As you can see in this example the GBP hits the 65% Probability Band low on 12/26 and that is the low to the pip! It then rallies up 140 pips! The next day's high is the 65% Probability Band high and the market falls 55 pips, goes back and double tops and then falls 85 pips! The next day the market stalls and reverses 108 pips off of the 80% Probability Band high.
Please view our Hypothetical Results Disclosure and LeverageFX Disclosures