PitView™ is proprietary trading software that tells you what the Liquidity Providers, or banks, are doing in the Forex market by monitoring their real-time buy and sell quote behavior. If you’re able to see what the smart money is doing, you can see where the market will likely go next.
PitView is a game changer when it comes to the way retail traders can analyze the Forex market. The thing that really sets them apart is that their analytics have nothing to price. Instead, their analytics are based on the behavior of the Big Banks and monitors the way the banks are changing their bid and ask pricing. As such, PitView analytics tend to lead price change. There is no other tool like it out there in the Forex marketplace, and we have a very special free trial for our readers that has no limitation on the functionality.
An Example of Pitview being Used
Does PitView have a free trial?
Yes, it does. And they let you try the professional package. There are no limitations to functionality on the free trial that you can sign up for through us, here. It is a 15-day free trial, so you have the time to see what effect PitView can have on your trading before you subscribe. The trial also has a training program to help you get going with the tool and learn a little more about the markets as you go along.
How does PitView work?
The software analyzes of how the big banks, or liquidity providers, are changing their bid and ask prices, and thus affecting the market. The PitView indicator is composed of the following two Liquidity Windows:
- The FX PairView™ Window
- The FX TotalView™ Window
FX PairView Window
The FX PairView window anonymously shows you the individual liquidity providers and the percentage of the market they control, over any given time period. In this case, you can see that LP34 is controlling 55.00% of the market, LP12 is controlling 17.03% of the market, and LP22 is controlling 14.96%. In this example, these are the only players you need to watch. They are taking the liquidity lead and controlling nearly 87 of the bid/ask liquidity in the EURUSD.
The green backgrounds indicate that the liquidity provider has been more active placing bid quotes. If the background is red, it means the liquidity provider has been more active placing ask quotes. The numbers inside the liquidity matrix give us an idea of how active the liquidity provider is in selling or buying this specific currency pair. The larger the number, the larger is their net directional bias. The total row at the bottom always sums % of the liquidity available and gives the overall indication of the buying or the selling pressure on that market.
The other columns show you the time frames, so you can see how the market has been progressing over time. This display of information is fully customizable and adjustable by the user.
FX TotalView Window
The FX TotalView window is a detailed matrix of the most active 28 currency pairs in the Forex market and visualized through a heat map with the FX TotalView™ Window. This small window shows you at a glance what the Big Banks are doing in 93%+ of the entire Forex marketplace.
FX TotalView will give you an idea of which currencies are the most bullish or bearish based on the sum of the behavior by the Liquidity Providers. The green numbers show the net buying bias while red numbers show selling bias of the firms that move the Forex markets; the Big Banks. This allows you to find a market that has the greatest imbalance in Liquidity Provider bias, so never again do you find yourself trying to trade in a sideways ranging market.
Pitview Trade Ticket
As a trader, risk management should always be on your mind and critical as you enter trades. The PitView Trade Ticket controls your risk for you automatically. You choose your equity risk per trade, and the Trade Ticket will calculate your correct lot size automatically. Simply enter an initial Stop Loss and your order size is precisely and instantly calculated. The Trade Ticket also dynamically takes into consideration the ever-changing spread in a currency pair.
All of the extras are also built-in for you. You can execute your trades using different order types. You also can set a predefined risk-to-reward ratio for your trades directly through the PitView Trade Ticket. For the advanced trader, this tool could be helpful because it has a lot more features than the traditional MT4 order execution window and too much more to cover in this review.
Market Order View:
Pending Order View:
Defaults, Trade and Money Management Settings View:
PitView Trade Manager
The PitView™ software comes with other handy tools that will help improve your trading. The PitView™ Trade Manager is an automatic and versatile trade management tool. This is powerful, though very simple to use, tool making it so you can basically handle all your risk management strategies through PitView and it works nicely together with the PitView Trade Ticket.
Pitview Design & Layout
Pitview has a versatile and compact design that will allow you to use multiple PitView indicator windows at the same time. The standalone widgets will hover over any trading software that you are using making it easy to watch the liquidity providers as they work while monitoring the market and your trades.
Additional features of PitView include:
- Trading educational section
- Trading plans
- Trading Templates and strategies for MT4
The PitView Platform is compatible with the most popular trading platform, aka MetaTrader4. However, you can also use it with other major trading platforms (ThinkorSwim, FxTrader, ForexTrader Pro) as well.
MetaTrader 4 Integration (MT4)
PitView is fully integrated with MT4. Actually, PitView gives you greater ease of use over MT4 than MT4 does itself. Charts and Timeframes are changed for you automatically from within any of the PitView tools. Once you start using PitView to manage MT4, you will never go back.
Even if you’re already a successful trader, PitView can significantly improve your overall performance and change the way you think about, analyze and trade the Forex market. There are many benefits of using PitView in generating some very low-risk, high-reward trade opportunities with outstanding market timing.