Forex Tools

forex trading tools

Forex Tools

We have created the following forex trading tools to help you be more efficient, proactive and ultimately - more successful and profitable in your currency trading:

You can find the most up-to-date information on the correlations between the commonly traded currency pairs at the currency correlations page.

For a more detailed analysis of the correlation between individual currency pairs please visit the trailing currency correlations web page.

You can calculate fibonacci retracements or extensions for any currency price move with the help of our fibonacci retracement/extension calculator.

To help you consistently follow your money management system in your forex trading and to properly spread your trading capital among multiple forex trading opportunities we created the money management calculator.

Note: We are working on creating many more professional forex tools that will greatly enhance your trading. Sign Up for our Newsletter below to know when we release them!

Correlation Stability Index (NEW)

 

Correlation Stability Index

Forexhit.com is proud to introduce the new measure of correlation stability between currency pairs – the Correlation Stability Index (CSI). The Correlation Stability Index was designed to help forex traders quickly identify currency pair combinations which tend to consistently exhibit certain levels of correlation –high, strong, medium or weak. Read More

Currency Correlations

 

Forex Correlations

Correlation coefficient measures how closely two currency pairs move together. If both pairs move up and down in perfect unison then their correlation coefficient is +1. If the movement of one pair doesn't tell anything about the movement of the other pair then there is a zero correlation between these pairs. If two pairs move in exactly opposite directions then their correlation coefficient is -1. Read More


Trailing Forex Correlations

 

Trailing Currency Correlations

The following calculator plots the 40-day and the 120-day trailing correlations for the last 100 trading days. To plot a correlation chart simply pick the names of two currency pairs from Selector's drop-down menu and the chart will be automatically created for you.Read More


Fibonacci Calculator

 

Fibonacci Calculator Forex Trading

To calculate fibonacci retracements and projections in this fibonacci calculator please enter the starting and the ending levels of a price move. The projections are by default calculated from the ending level of the price move. Read More


Money Management Calculator

 

Money Management Calculator

This money management calculator allows to manage your exposure across multiple trading positions in accordance with your money management strategy. The calculator is made up of five different sections each of which is described in full detail below. Read More