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Using a Global Economic Calendar on your Forex Charts

By , Quantitative Strategist
14 January 2011 02:18 GMT

Our DailyFX Calendar plug-in for Strategy Trader is an excellent way to keep track of the most important events for any given currency pair.

As any trader knows, volatility can and often does jump significantly surrounding news events. In fact many traders look to take advantage of such moves and trade particularly sharp surprises around the top market-moving news releases on the calendar.

Using DailyFX.com, traders can view all of the top economic news releases sorted by importance and currency pair. It is little surprise to note that the calendar is consistently one of our most popular pages. Using a brand-new tool for FXCM’s Strategy Trader platform, you can now show most of the same information on the same charts you use to trade.

DailyFX Calendar Indicator for FXCM Strategy Trader

If you do not already have Strategy Trader installed on your computer, go to the automated trading page and download the platform. Once you have installed the platform, visit our Forex Forum thread on the DailyFX Calendar indicator.

Download the attached .zip file and run the “DailyFXCalendar.fxd” file once unzipped. This should open your Strategy Trader Editor and prompt you to import the “DailyFXCalendar” Indicator and “Calendar” Function. Hit ‘OK’ and it will import both the indicator and the function into your Strategy Trader installation.

From there, it’s as simple as adding the indicator to your chart. Right-click on your open chart, click on “Insert Indicator”.

Using_a_Global_Economic_Calendar_on_your_Forex_Charts_body_Picture_1.png, Using a Global Economic Calendar on your Forex Charts

When prompted, select the “DailyFXCalendar” Indicator and hit “OK”.

Using_a_Global_Economic_Calendar_on_your_Forex_Charts_body_Picture_4.png, Using a Global Economic Calendar on your Forex Charts

From there on in it is fairly self-explanatory. Much like on DailyFX.com’s own calendar, you can restrict which indicators are shown by importance level.

Using_a_Global_Economic_Calendar_on_your_Forex_Charts_body_Picture_7.png, Using a Global Economic Calendar on your Forex Charts

The indicator and function take care of the rest: you now have economic indicators plotted on the chart by exact times and forecasts figures alongside the brief description.

Using_a_Global_Economic_Calendar_on_your_Forex_Charts_body_Picture_10.png, Using a Global Economic Calendar on your Forex Charts

Questions? Comments? Feel free to post on the forex forum thread for a swift response.

Did you find this article useful? E-mail the author David Rodríguez at drodriguez@dailyfx.com.

To join the author’s Distribution for this content and similar in the future, e-mail drodriguez@dailyfx.com with subject line “Distribution List”.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

14 January 2011 02:18 GMT