This PRS tool allows traders to drill deep into the Forex market and see discernable price consolidation patterns. In essence, it provides Forex traders beneficial information to develop a solid, well thought out trading plan.
Salt Lake City, UT (Vocus) February 4, 2010
Interbank FX (http://www.interbankfx.com ), a worldwide provider of online off-exchange retail foreign currency (Forex/FX) trading, has unveiled the most recent addition to its progressing transparency tools -- The PRS: Pattern Recognition Scanner.
Available for download through the Interbank FX web site, traders have comprehensive Forex training tutorials available at their fingertips, complete with in-depth education of how to supplement trading using chart patterns. On the welcome screen, traders are also able to view accuracy by patterns, pairs and intervals -- allowing for a comprehensive analysis of market movement.
“In our effort to provide the highest degree of transparency for our clients, we’ve enhanced our PRS tool and educational videos to compliment trading practices, available for download to all customers,” said Todd Crosland, Chairman and President of Interbank FX. “This PRS tool allows traders to drill deep into the Forex market and see discernable price consolidation patterns. In essence, it provides Forex traders beneficial information to develop a solid, well thought out trading plan.”
Additional transparency elements through Interbank FX’s website include an innovative performance page, touting new spreads and specific performance metrics. This page allows traders to display and/or download our spreads by date and periodicity.
For more information about Interbank FX or to open a demo account, please visit http://www.interbankfx.com .
The Interbank FX-PRS scans multiple currencies and time frames looking for price consolidation patterns. When a forming pattern is identified, traders using the PRS will be alerted. Completed patterns offer traders a look at where the price direction is most likely to head, thus offering a potential take profit region. The Interbank FX-PRS can be used to spot potentially strong trades, or to help confirm the strength of current positions held.
About Interbank FX LLC
Headquartered in Salt Lake City, UT, USA, Interbank FX LLC is a provider of online Forex trading services, offering individual traders, money managers and institutional customers proprietary technology, tools and education to trade spot foreign currency online. Interbank FX LLC has distinguished itself among industry leaders with its unique multi bank liquidity feed, proprietary tools and services, and remarkable focus on customer care.
Serving more than 35,000 clients from more than 140 countries around the world, the company is regulated as a member of the National Futures Association and is also registered with the Commodity Futures Trading Commission as a Futures Commission Merchant
Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investment available. Full risk disclaimer can be found here: http://www.ibfx.com/Legal/RiskWarning.aspx .