Learning to use the Forex Scope Tool

What is Forex Scope?

Forex Scope is a powerful new tool from ADVFN that lets you analyse a basket of currency pairs by fixing one currency (the "Base") and comparing the movements of its pair currencies. This can help you easily spot if a particular pair is behaving differently to the rest.

How does Forex Scope Work?

Forex Scope shows the momentum of different currency pairs. If a pair marker is far out on the horizontal-axis this could indicate the momentum has reached its peak and the pair may start to change direction.
Forex Scope shows how currency pairs are moving
  1. Base Currency
    • This is the currency you "fix".
    • The round coloured markers represent the currency pairs containing the base, e.g. EURUSD, USDJPY, etc.
  2. Enable / Disable Currency Pairs
    • Click the check boxes to turn off currency pairs you are not interested in.
  3. Chart Period in Minutes
    • Select the timeframe for the currency charts below.
  4. Currency Pair Markers
    • Each enabled pair currency is shown in the scope as a coloured marker.
    • The currently selected currency pairs (e.g. EURUSD and USDJPY) are displayed with a thick black border.
    • You can change the currently selected pair by clicking on the marker.
    • If the marker is on the right side of the scope then the momentum of the currency pair is RISING.
    • If the marker is on the left side of the scope then the momentum of the currency pair is FALLING.
    • In this screenshot you can see that EURUSD is rising so 1 Euro buys more US Dollars.
  5. Currency Pair Trails
    • The coloured trail that follows a marker shows the recent movements of the currency pair.
    • The trail shows the last 10 minutes of movement.
  6. Currency Chart
    • Shows the price chart of how the currency pair has moved.
    • The horizontal red line shows the opening value for the currency pair.
    • The shaded region at the right of the chart highlights the last 10 minutes of data.
    • To change chart, click the chart and then click a currency marker.
  7. Second Currency Chart
    • Allows you to view a second currency pair.
    • To change chart, click the chart and then click a currency marker.
Open the Forex Scope tool
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