In many cases in the trading process, the difficulty is seen with keeping tabs on everything that is taking place at the same time? with XAUBOT Pro, What does it mean? Well, at any given moment in the foreign exchange market, there are so many different things happening. All the small variations in price and volatility that you ought to be careful about and everything that is related to technical and price analysis.
If you add to that mixture the fundamental factors and indicators as well, then you have a barrage of information that is bombarding you at every moment. Traders simply cannot keep tabs on all of these things. This is why some turn to automation, which means they delegate the process of keeping tabs on things to a software or algorithm.
And that is what we want to delve into in this article. We want to see how the process of fundamental analysis, and more important the process of keeping tabs on fundamental factors can be left to an algorithm – in this case the intelligent trading tool XauBot Pro and its relevant features.
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Add Fundamentals to Your Charts: Never Be Surprised by News Again!
So let’s see how XauBot Pro helps you simplify the process of keeping tabs on everything in the market. Aside from the features and parameters that are related to technical analysis, we want to see how this expert advisor helps you with fundamentals.
There are different features of course integrated into this intelligent trading tool that pertain to fundamental factors in the market. Here we want to focus on a certain feature that can help you follow the news that could be potentially impactful on the market.
The particular feature that can help you keep track of the relevant news in the foreign exchange market is known as Display Lines. The underlying purpose of this parameter is to show news lines right on the trading chart. So this means in addition to all the other information that is shown on the chart, you can also see lines related to news events.
Basically, the Display Lines parameter integrates fundamental analysis into the trading chart so that you have a visual way of considering the fundamental factors as well as technical factors that are shown as price changes.
This feature is the best way for tracking news as it is a way for you to be able to track the news events on the chart. This way you will not have to worry about following the news cycles and keeping their dates in mind.
This is another step toward full trading automation of different processes of trading in the Forex market that XauBot Pro is able to provide for you. After all, it is what this expert advisor has been developed to do. This means the aim is to provide users with full automation of the trading process in the foreign exchange market. But not just any form of automation. Rather a completely smart and intelligent form of automation to simplify and clarify the process of decision making in the forex market.
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How Can Display Lines of XauBot Pro Help You in Forex Trades?
So far we learned about this specific parameter in XauBot Pro that can help you with fundamental analysis by showing news lines on the trading chart. These lines track the progressions and release of news events that are worthy and impactful with respect to the foreign exchange market.
Now the question that might come to mind is regarding the relevance and function of this feature. What can it do for you exactly?
Well, on the surface, what display lines do for you is that they simplify and facilitate the process of keeping track of fundamental factors in other words news. But what they actually do is provide a simple way to consider the impact of fundamental factors on your trading process.
As you know the forex market is impacted by the release of news that are important, such as financial or economic news and also other political news that are significant.
So at the heart of this parameter we have a way for users and traders not to neglect the impact of news on their positions. And this can be any news with respect to its scope of influence. This means both medium impact and high impact news ought to be taken into account if you want to be a truly successful and professional forex trader.
The way different kinds of news impact the market is through the fluctuation and price volatility that they can cause. This is the result of the uncertainty that is tied to the very nature of any important news event and news cycle. The nature of news is that it is telling you something you did not know and that you did not even anticipate. So it is only natural that even scheduled and regular news events such as economic data would cause uncertainty.
But what does this mean for the forex market? The uncertainty that is caused by news among traders will ultimately lead to uncertainty in the market itself. In other words we can expect price volatility and price fluctuation whenever this happens.
Given the importance and significance of the news that is being released, the level of fluctuation and volatility can vary widely. But the thing about the forex market is that even the small degrees of volatility can be to a disadvantage for your positions in the market. Especially if your main trading strategy is a short term trading style such as scalping where you hope to capitalize on small price movements.
Take a look at: Enhancing Chart Analysis with Display Lines Option in XAUBOT Pro
Conclusion
There is a feature built into XauBot Pro known as Display Lines. Simply put, these display lines are a way for you to be able to see news lines on the chart. This means other than all the regular information that you can get from a trading chart, you will also be able to see actual lines on the chart that pertain to the news. This way you can easily keep tabs on fundamental factors.
