The Forex broker known as InterbankFX (aka IBFX) has just recently introduced a new technical analysis tool they brand “PowerStats.” From what I can garner from IBFX’s new release, PowerStats is basically a graphical statistical analysis tool. Upon further inspection of its website I learned that it gives traders IBFX traders useful info such as average pip movement, consecutive bullish bars, consecutive bearish bars,  and so on. I do have a live account with IBFX so I may give this tool a try and see if it’s of any use to my trading style. By the way, there is a link to the PowerStats website at the bottom of the news release in case you wish to find out more about it.

Here is the official news release:

Innovative New Tool Provides Graphical, Statistical Snapshot of Forex Market

IBFX is proud to present to our customers the most recent addition to our ever-growing library of free online trading tools—IBFX PowerStats.

Brilliant in its broad scope and ease of use, PowerStats allows you to learn more about the behavior of a given currency pair as well as its average pip movement, thus helping you set daily goals as well as “stops” and “take profits” on your trades.

PowerStats is divided into two formats:

IBFX PowerStats BASIC is available free of charge to anyone on the IBFX.com website under the “Trading Tools” tab. It provides basic daily market statistics analyzed over a 6 month period. These measurements provide solid historical benchmarks that characterize the Forex market.

IBFX PowerStats ADVANCED is provided free of charge to all live IBFX account customers, and provides up-to-date daily and intra-day market statistics that are calculated over various sample sizes. These measurements provide meaningful historical benchmarks as well as accurate descriptions of current Forex market conditions. To access the PowerStats ADVANCED, simply enter the email address you used when setting up your live account.

To learn more about this amazing tool, visit www.ibfx.com/Tools/PowerStats.aspx