Eurusd Daytrading Direction

This indicator is based on a leading version of the EURUSD proxy trade, such that the day's underlying direction can be inferred through the intraday volatility and market noise.

What this allows you to do:

Eliminate 70% of big losing trades due to getting trapped on the wrong side for that day

Enhance profitability by getting early in the trade

Further reduce risk even on smaller time frame trades,  even though the indicator runs on the daily chart

For example,   on a day when the market appears to be flat, or to be stuck in tight range going little up and little down, it could be because

of the overall market dynamics or because the market awaits some important news to come out. If the indicator yellow line is above zero, this indicates that the expected dynamics or news will be positive, and the market will go higher despite early apparent weakness.

The indicator may repaint, but not according to EURUSD price action,  it will typically reverse when a reversal is expected in the hours ahead going into the next day, a significant reversal.

Proxy trade set indicators take  along time to develop,  only 2 have been found to this day, one for EURUSD and one for USDCAD, therse proxy trades can be transformed into leading indicators after careful fine tuning and by being expressed though different formulas. So a set of 4 trades which is equivalent to one EURUSD trade, needs to be expressed through multiplication and division of the actual currency prices, and then compared to EURUSD itself.