Macro intelligence terminal
Access institutional macro now. Without the price tag.
The research 48 desks publish, positioning across 44 markets, and the priced rate path for 8 central banks. Assembled every morning, scored, and every weight published so you can check it yourself.
Free forever, no card. 1,000+ traders inside. A Bloomberg seat is $31,980 a year.
4.5 out of 5 on Trustpilot
- 24
- Markets scored daily
- 44
- Markets with positioning
- 48
- Institutions in the roster
- 8
- Central banks tracked
- 12
- Boards free, no card
The information gap
The same information. Three ways to get it.
A retail trader
- A charting platform
- Google, and whatever it returns
- A forum, and someone's screenshot
Assembled by hand, every morning, if at all.
An institution
- Offices in every major centre
- Teams of analysts on every desk
- Sell-side research, priced in
- $31,980 a year per seat, on data alone
The right way to do it. Assembled by people.
WatchTower
- Research from 48 institutions
- Positioning across 44 markets
- Rate paths for 8 central banks
- Charts, calendar and the data behind them
- $49 a month, or nothing at all
The same information. Assembled by software.
Every dot is a piece of the same picture. The difference is not how much of it exists. It is who has already put it together.
Overview, the board every account opens on
Not a demo build and not a mock-up. This is the first screen a new account loads.
Covered
9 currencies: USD, EUR, GBP, JPY, CHF, AUD, CAD, NZD and MXN. 6 metals and energy: gold, silver, platinum, palladium, copper and WTI. 9 equity indices: S&P 500, Nasdaq 100, Dow, DAX, FTSE, CAC, Euro Stoxx, IBEX and Nikkei. Positioning across 44 markets, and a research roster of 48 institutions including ING, MUFG, UniCredit, Westpac, Danske Bank, Crédit Agricole CIB, SEB, Scotiabank and others.
Swipe the board to explore it
The score, opened up
You can check every number before you trust it.
Most tools hand you a signal and ask you to trust it. Here is the weighting the engine actually runs on, printed on a public page, because a score you cannot audit is a score you should not size a position on.
Currencies and metals score on 7 components. Equity indices use a different set, because an index needs an input that separates it from the others rather than the dollar macro wearing a different name.
56 and above reads bullish, below 45 reads bearish, and the band between the two is neutral. The scale reads the same way on all 24 assets.
- Fundamentals Releases against consensus 22.5%
- Central bank Stance and priced path 18%
- Bank research Extracted desk calls 18%
- Seasonality Historical tendency 13.5%
- Retail sentiment Read contrarian 10%
- COT level Positioning extreme 9%
- COT flow Weekly change 9%
Retail sentiment is read against the crowd. When the retail book is heavily positioned 1 way, that 10% weighs against the score rather than for it.
- COT level Positioning extreme 20%
- Earnings Weighted beat rate 20%
- Bank research Extracted desk calls 15%
- Seasonality Historical tendency 15%
- Central bank Stance and priced path 15%
- Fundamentals Releases against consensus 15%
Indices carry a weighted earnings beat rate, because without it the 3 US indices score almost identically. It is the only component that tells 1 index from another.
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AUD
65
Bullish
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EUR
59
Bullish
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GBP
59
Bullish
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JPY
59
Bullish
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CAD
59
Bullish
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MXN
53
Neutral
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USD
50
Neutral
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CHF
41
Bearish
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NZD
41
Bearish
See today's score on all 24 markets Free, no account needed.
Bank research, extracted
Every desk call, pulled out of the PDF and made comparable.
Reading 30 reports tells you 30 things. The value is in what they agree on and where 1 desk has quietly broken from the rest.
Each report is read and reduced to its thesis, direction, conviction, price target and horizon, then stacked against every other desk covering the same market. You get the consensus, the outliers and the shifts, with the original report 1 click away so the extraction can be checked against the source.
This is where most trade ideas start. A 100% bullish consensus is a different signal from a 6 to 5 split, and the terminal shows you which one you are looking at. Research is aggregated from ING, MUFG, UniCredit, Westpac, Danske Bank, Crédit Agricole CIB and a roster of 48 institutions.
Read this week's bank consensus Free, no account needed.
Built for the macro cycle
A position held for weeks needs more than a chart pattern.
Macro does not move on a 5 minute candle. It moves when positioning gets crowded, when the priced rate path shifts, and when the data stops matching the story. The terminal is built around that rhythm rather than a session clock.
- Continuously
The priced rate path
8 central banks tracked on stance, policy rate, real rate and distance from neutral, with the market implied path repricing as futures move rather than waking up on meeting day. You get the next implied rate, the terminal rate, and the widest pairwise spreads called out as rate differential setups.
- Every day
The written read
1 piece of writing on what moved, why, and what is next, with the numbers in it and the sources shown. Every claim opens into the release, the report or the positioning print it came from.
- Every Friday
Positioning prints
Institutional and retail positioning across 44 markets, each read against its own 52 week range. A crowded long warning needs both an extreme percentile and a stretched net position, so you are not alerted every time a market drifts.
- Every release
Data against the story
Every print charted against consensus and previous with the surprise measured, across inflation, labour, growth, PMIs and consumer. A miss shows as a break in trend rather than a single red number, which is usually where a macro thesis starts to fail.
Positioning
Find out you are late before the market tells you.
A trade everyone is already in has a different risk profile from the same trade nobody has noticed. Institutional positioning across 44 markets is read against its own 52 week range, so an extreme is measured against that market own history rather than an arbitrary line.
Retail crowding sits alongside it, read contrarian, and carries a defined 10% of the published score.
See where positioning is stretched right now Updated weekly. Free, no card.
What is actually in it
98 widgets. You will use 20. Those 20 are why people stay.
Every module below is built, running and in the terminal today. Free accounts reach most of them through the 12 WatchTower boards.
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Scoring
Composite score
One score per market on published weights, every component readable on its own, with the full narrative written out.
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Scoring
Pair heatmap
Every G10 pairing scored against every other in one grid, so aligned pairs and crowded ones are visible together.
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Scoring
Conviction check
Your open positions read against the macro score, flagged plainly when you are positioned against your own analysis.
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Research
Extracted bank calls
Thesis, direction, conviction, price target and horizon pulled from each report and made comparable across desks.
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Research
The research inbox
The source documents themselves, indexed by institution and date, readable inline rather than summarised away. Part of Pro.
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Research
Consensus and outliers
Where the desks agree, where one has broken from the rest, and which have quietly changed their view this week.
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Positioning
COT across markets
Long and short split, net position, weekly change and 52 week percentile, with crowding warnings that need two conditions to fire.
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Positioning
Retail crowding
Where the retail book is stacked, read contrarian, carrying a defined share of the published score.
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Rates
Implied path and terminal rate
The full priced curve per central bank, repricing continuously, with real rates and distance from neutral.
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Macro
Release matrix
Actual against forecast and previous with the surprise measured, across inflation, labour, growth, PMIs and consumer.
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Macro
Seasonality
Historical tendency by month and week with the forward path, carrying a defined share of the score.
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News
The WT Wire
Headlines cross-checked across sources and tiered as confirmed, official or developing before they reach you. Part of Pro.
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News
Situation monitor
Live geopolitical and risk events tracked as running situations rather than a stream of disconnected headlines. Part of Pro.
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Workspace
Build your own terminal
The full widget library arranged into your own boards and workspaces, saved across devices. This is the Pro line.
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Workspace
Charts and Squawk
Charting with the terminal own score, COT and seasonal overlays, plus a members room for live discussion.
The arithmetic
What you are already paying for, badly.
Assembled separately, the same inputs are either expensive or not sold to a private trader at any price.
~$2,000
a month for a data terminal of this class
Not sold
direct sell-side research access, at retail, at any price
~$100
a month for a squawk or newswire service
1 to 2 hrs
a day reading and cross-checking it yourself
Before you sign up
This is not for everyone, and it is not trying to be.
A tool that claims to suit every trader suits none of them particularly well. If you are on this list, you will not get your money's worth, and I would rather say so here than take it.
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If you scalp intraday
Macro moves over days and weeks. Nothing here helps on a five minute chart, and the scores barely change inside a session.
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If you want entries and stops
It will never give you either. It shows what the data favours and the reasoning behind it, and the trade stays yours to size and time.
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If you want to be told what to do
This is a research terminal, not a signals room. It works if you already form your own views and want better evidence under them.
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If you only trade equities
The coverage is FX, metals, energy and equity indices. There are no company fundamentals, no screeners, no single stocks.
Pricing
Free is a real product, not a demo.
1,000+ traders are already inside, and 12 boards cost nothing to try.
The line between free and Pro is simple. Free gives you 12 boards built by me. Pro lets you build your own.
Free
$0forever
No card required. No expiry.
- 12 complete boards, using 55 of the 98 widgets
- Composite scores and every driver behind them
- COT and retail positioning, extremes and weekly change
- Economic calendar, macro matrix and release history
- Central bank tracking and rate expectations
- Seasonality, currency strength and score history
- Bank consensus across desks, and the daily brief
- Charts, watchlist and the Squawk members room
Pro Most popular
$49a month
$490 a year, 2 months free. 7 day trial, cancel any time.
- My Terminal. Build and save your own boards and workspaces from the full widget library
- The AI layer. Pair explains, news explains, portfolio briefings and chat
- The research inbox and the full daily and weekly reports
- Extracted bank calls, forecasts and trade calls per desk
- The WT Wire and full article bodies
- The situation monitor for running geopolitical events
- Treasury yields, alerts and the narrative tracker
- Post trade ideas and attach charts in the members room
Prices in USD. Cancelling Pro returns you to the free tier rather than locking you out.
What members say
Reviewed where I cannot edit them.
Every review sits on Trustpilot rather than on this page, so nobody has to take my word for which ones I chose to show, or for the ones I did not.
Where it is being used
WatchTower is global.
Traders running the same macro read from different time zones, on desks, laptops and phones.
Get your photo featured. Post yours and tag@wtterminalor@jameslne777
Questions
The things worth asking first.
Is this worth it if I already use TradingView?
They do different jobs and most members run both. TradingView is charting: it tells you what price has done and gives you levels to work with. It cannot tell you what 48 research desks published this morning, where positioning is stretched, or what the rate path is pricing. WatchTower is the macro layer underneath a chart, not a replacement for one.
How is this different from a signals service?
A signals service tells you what to trade and asks you to trust it. This never gives an entry, a stop or a position size, and the weights behind every score are printed on a public page so you can disagree with the method before you rely on a number it produced. It is research you audit, not calls you follow.
Do I need to trade full time to get value from it?
No. The free tier is built around a morning read: the daily brief and 12 boards that are already assembled, so a part-time trader gets the macro picture in a few minutes rather than an hour of tabs. Pro is for people who want to build their own boards around it.
What is WatchTower Terminal?
A macro and FX intelligence terminal for independent traders. It aggregates sell-side research, CFTC and retail positioning, central bank rate expectations, economic releases and seasonality into one composite score per market across G10 FX, metals and global indices, with the reasoning shown.
Is WatchTower a Bloomberg Terminal alternative?
For macro and FX research, largely yes, and at a fraction of the cost. It does not replace a Bloomberg Terminal for execution, fixed income analytics or equity fundamentals. It covers the macro read a discretionary FX or index trader actually uses, for $49 a month.
What does the free account include?
12 complete boards, free forever with no card, drawing on 55 of the 98 widgets. That covers the composite scores and their drivers, COT and retail positioning, the economic calendar, central bank tracking and rate expectations, the macro matrix, seasonality, bank consensus across desks, the daily brief, charts and the Squawk members room.
What does Pro add?
The board builder, which is the main one: building and saving your own boards from all 98 widgets rather than the 55 the free boards use. Pro also adds the research inbox, the full daily and weekly reports, the WT Wire, the extracted bank calls, the situation monitor and the AI reads.
How is the composite score calculated?
On published weights. For currencies and metals: fundamentals 22.5%, central bank 18%, bank research 18%, seasonality 13.5%, retail sentiment 10% read contrarian, COT level 9% and COT flow 9%. Equity indices use a different set that includes a weighted earnings beat rate. A score of 56 or more reads bullish, below 45 reads bearish, and the band between is neutral.
Is this financial advice?
No. WatchTower describes data and surfaces the macro read. It never gives an entry, a stop or a position size. Those decisions stay entirely yours.
Can I cancel at any time?
Yes. Pro is month to month and cancels from the account page. The free tier continues afterwards, so cancelling returns you to the free boards rather than locking you out.
In short
WatchTower Terminal is a macro and FX intelligence platform for independent traders. It reads sell-side research from a roster of 48 institutions, tracks CFTC and retail positioning across 44 markets, follows the priced rate path for 8 central banks, and combines those with fundamentals and seasonality into a single composite score on 24 markets across G10 FX, metals and global equity indices. The scoring weights are published rather than hidden. A free account gives 12 complete boards with no card and no expiry; Pro at $49 a month adds the board builder, the research inbox, the WT Wire, the AI layer and the extracted bank calls.