PZ Heat Finder

The indicator reads values for the current timeframe of the chart.

How does it work

The indicator iterates all symbols present in your Market Watch, to find the most attractive to trade based on volatility and efficient price movement. To scan all the symbols your broker offers, make sure to display them all.

The indicator dashboard displays the most attractive symbols, ordered by descending volatility. The most volatile symbol at the time will be displayed at the top. But volatility alone can be deceiving: maybe an instrument is moving a lot but going nowhere. That's why the efficiency value is displayed as well.

The efficiency measures how much of the absolute price movement translates into efficient price movement. For instance, a symbol with a volatility of 10% but an efficiency of 0% would mean that the symbol is suffering tremendous price movements, but closing prices would be the same each day: not so good.

On the other hand, a symbol with the same volatility but an efficiency of 75% is much more desireable: it means the symbol is volatile and that 75% of that volatility translates into sustained price movement.