The Multicharts scanner is an awesome tool for monitoring higher timeframes and to get a brief overview of what the markets are doing at the moment. It works very similar to an Excel spreadsheet but allows you to view what is happening on multiple charts and symbols to determine the best potential market to trade.
How to Read the Multicharts Scanner with the TradersHelpDesk Indicators
In this video, Gail Mercer, founder of TradersHelpDesk, shows you how to read the Scanner using the TradersHelpDesk indicators. You can identify moves and potential directional entries by identifying markets that are overextended or poised for a retracement. Trend traders would wait for the retracement to complete and then enter in the direction of the trend. Counter-trend traders would utilize a lower timeframe to identify an entry into the retracement. The setups work for trading Nadex Binary Options or Spreads, forex, futures and commodities.