What This Dashboard Does
The Billy Hoot FX Heatmap is a multi-timeframe confluence trading dashboard for the 8 major forex currencies. It gives you a real-time visual read of relative currency strength, identifies high-probability trade setups using a layered signal engine, and alerts you when conditions align across multiple timeframes.
All data is pulled live from Oanda fxTrade. The markets banner pulls from Yahoo Finance (NDX, VIX), Coinbase (BTC), and calculates DXY and USDJPY directly from Oanda candle data.
The Heatmap Grid
The 8×8 matrix shows every combination of the 8 major currencies: USD, EUR, GBP, JPY, CAD, AUD, NZD, CHF. Each cell shows the H1 % change from the daily open for that currency pair.
🟢 GREEN CELL
Base currency is outperforming the quote. The stronger the green, the larger the move.
🔴 RED CELL
Base currency is underperforming the quote. The stronger the red, the weaker the base.
SIGNAL BADGE
Each cell shows the 1H entry direction and probability from the signal engine.
HOVER TOOLTIP
Hover any cell for full detail — RSI, EMA cross, MACD, BB position for both timeframes.
The Signal Engine — 4H Trend + 1H Entry
Signals use a two-stage multi-timeframe approach. The 4H timeframe sets the directional bias. The 1H timeframe looks for entry confirmation in that direction. A trade is only ranked "WITH TREND" when both timeframes agree — this is the highest-quality setup.
RSI (14)
Relative Strength Index. Measures momentum. Below 30 = oversold (potential long), above 70 = overbought (potential short). Weighted heavily in the score.
EMA 9/21
Exponential Moving Average crossover. When the fast (9) crosses above the slow (21), bullish momentum is building. The distance between them reflects trend strength.
MACD
Moving Average Convergence/Divergence histogram. Positive histogram = bullish momentum accelerating. Negative = bearish. Used to confirm the EMA signal.
Bollinger Bands
Price position within the band (0–100%). Below 25% = potential reversal up. Above 75% = potential reversal down. Adds mean-reversion context to the momentum signals.
Momentum
Raw directional body sum over the last 7 candles. Captures the "feel" of recent price action that the other indicators might lag on. Highest weight in the score.
RSI Divergence
Detected separately on the 1H. Bullish divergence: price makes a lower low but RSI makes a higher low — reversal signal. Bearish: opposite. Fires a distinct alert tone.
How Probability Is Calculated
The five indicators are scored from −1 (strong bear) to +1 (strong bull) and combined with weighted averaging. The final score is mapped to a probability:
Base: 55 + (1H strength × 25)
If WITH TREND: + (4H strength × 15)
If COUNTER-TREND: − 8
Clamped to 50–95%
Probabilities above 75% with a WITH TREND label trigger the alert system. Counter-trend setups are shown separately at the bottom of the panel — they can work but carry higher risk.
Estimated Trade Duration
Because the signal is built on 4H trend + 1H entry, setups are designed for intraday to short swing trades. General guidance:
🟢 FRESH TREND
4–16 hours. Best risk/reward — trend has the most room left to run.
🔵 BUILDING
4–12 hours. Trend still has momentum. Good setups with confirmed 1H entry.
🟡 MATURE
2–8 hours. Trade cautiously. Use tighter stops, consider TP1 as your target.
🔴 EXTENDED
1–4 hours maximum. Trend may be exhausted. Only trade with strong RSI divergence confirmation.
Time stop: if a trade hasn't moved meaningfully within 2–3 hours of entry, close it — the momentum has stalled. Exit early if the 1H RSI crosses back through 50 against your direction before TP is reached.
Stop Loss & Take Profit Levels
Levels are calculated using the 1H Average True Range (ATR) — a measure of recent volatility. ATR-based levels automatically adjust to market conditions, giving wider levels in volatile sessions and tighter ones in quiet markets.
STOP LOSS
1.5× ATR against the trade direction. Gives price enough breathing room to avoid being stopped out by normal noise.
TP1 (1:1)
1.5× ATR in the trade direction. Equal risk/reward. Move stop to breakeven once TP1 is reached.
TP2 (1:1.67)
2.5× ATR in the trade direction. Full target. Let half the position run to TP2 after TP1 is hit.
BEST PRACTICE
Close 50% at TP1, move stop to breakeven, let the rest run to TP2.
Session Filter
FX liquidity is not equal across 24 hours. Each currency pair has an "optimal" session where volume and volatility are highest — and signals are more reliable.
TOKYO 00:00–09:00 UTC
Best for: JPY, AUD, NZD pairs.
LONDON 07:00–16:00 UTC
Best for: EUR, GBP, CHF pairs. Highest overall volume.
NEW YORK 12:00–21:00 UTC
Best for: USD, CAD pairs. London/NY overlap (12–16 UTC) is the highest-volume window of the day.
LON/NY OVERLAP
12:00–16:00 UTC. The single best window for trading — maximum liquidity and tightest spreads.
Toggle ◑ SESSION FILTER to dim trade cards that are outside their optimal session. They still appear — nothing is hidden — but dimmed cards deserve extra scrutiny.
⚠ DISCLAIMER
This dashboard is a technical analysis tool for informational purposes only. It does not constitute financial advice. All trading involves substantial risk of loss. Past signal performance does not guarantee future results. Always use proper risk management and never risk more than you can afford to lose.