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(c) 2010 Shon Shampain for Zen Cows Go Mu, http://www.zencowsgomu.com/.
If you’re navigating the bustling waters of trading, you might want to check out the NetFlows indicator for MetaTrader 4. This nifty tool, inspired by user comments from Merlin, measures the volume-adjusted flow of currencies across all the pairs available on your platform.
When you’re looking at the NetFlows readings, keep this in mind: values above the 0.0 line indicate positive net flows, while those below signal negative flows. It’s fascinating to see how price action can dance around various net flow scenarios. For instance, you might notice that the EUR/USD pair is climbing even with both Euro and Dollar flows in the negative territory. In such cases, it’s crucial to rely on the relative net flows to get the full picture.
Do note that the effectiveness of this indicator is tied to the pairs available on your platform. It primarily focuses on the eight major currencies, but feel free to tweak it if you’re trading with more pairs!
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