Advanced Currency Strength28 Indicator
This Indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. With only ONE chart you can read Currency Strength for 28 Forex pairs! Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity?
User manual: click here
That's the first one, the original! Don't buy a worthless wannabe clone. Take a look at the date of publication! 22 August 2016!
- Arrows in sub-window to show strong currency momentum GAP will guide your trading!
- Warning signs in the main window of the individual chart when the base or quote currency is in oversold/overbought zone (outer market Fibonacci levels).
- Pullback/reversal alert when currency strength drops back from the outer range.
- Special alert of a cross pattern.
Available with multi time frame choice to see quickly the TREND! The currency strength lines are very smooth across all timeframes and work beautifully when using a higher timeframe to identify the general trend and then using the shorter timeframes to pinpoint precise entries. You can choose any time frame as you wish. Every time frame is optimized by its own.
Built on new underlying algorithms it makes it even easier to identify and confirm potential trades. This is because it graphically shows whether the strength or weakness of a currency is increasing or not and how it performed in the past. These features were designed to help make it easier for you to not only identify which are the strong and weak currencies but to also show you when to trade, when not to trade and when to take profits.
Advanced Currency Strength28 Indicator works on all THE 28 currency pairs. It is a new formula, and the very new features are Market Momentum and dynamic Market Fibonacci Levels which adapt to current market activity! Market Momentum is the 9th line. This is a great advantage and new in Forex trading. When you learn how to use the proprietary features such as the market momentum and dynamic Market Fibonacci you will be able to tell whether you want to trade with the trend, look for a trend continuation or a pullback.
All the graphics are based on the new buffers which represents historical dynamic Market Fibonacci levels.
To see the full list click here.
=== Currency Strength TF settings
- use higher TF
- higher time frame (You can add indicator twice on a chart.)
==== Chart settings
- use currency specific characteristics (each currency will be handled by its own)
- draw GAP (arrows in sub-window to show strong currency momentum GAP)
- GAP Market Fib (23) slope (currency angle to draw arrow)
- draw Outer MFib stop (pullback/reversal alert when currency strength drops back from outer range. For M1 use at least 161 or more.)
- Outer MFib stop (100-161) (warning signs in the main window for individual chart when the base or quote currency is in oversold/overbought zone outer market Fibonacci levels. For M1 use at least 161 or more.)
- quick chart open in new window (To change the pair on the chart just click the currency names. Click two names to build a pair. Simple: click GBP and JPY to change the chart to GBPJPY. Set to false: change pair on a chart. Set to true: Open the pair in new window)
=== Alert settings
- alert outer MFib Trigger HIT (alert when currency strength reach outer Market Fib levels)
- alert outer MFib Trigger HOOK (pullback/reversal alert when currency strength drops back from outer range)
- outer MFib Trigger level (161) (Alert level)
- minimum hook GAP (28) (inside GAP slope value)
=== Alert settings CS cross
- cross market Fib slope
- use 4 bars cross pattern (false = 3 bars)
- alert currency cross
- show triangle on subwindow
- show vertical line for chart symbol
- Use my template. See manual
- Use “open chart in new window” if you do not want to interrupt the indicator.
- Stay within the trend (currency GAP) of the higher time frame.
- Look for the currency double-GAP as trade setup.
- SPECIAL: To update the MT4 chart history 7 support charts will be opened (see manual)! This function can be deactivated.
- Check my news and blogs on profile for trading system and trade examples.
I will always help you if you have any questions.
I wish you many green pips in the future.
Best Regards, Bernhard
Now the repetition of HIT-alert is set to wait for more bars with smaller timeframes.
Note it is handled for each currency separately!
A new input has been added at the end of the input list.
+ pause for HIT alert in bars (0=automated)
"0" means it is automated but the trader can enter here any number of bars.
Optimized "set PIN" when "use higher timeframe" is set to true.
==== other settings
+ use PIN
(The old input "write Global variable MFib100" has been deleted. The value is now available on buffer 13.)
Made several compatibilities to use with the strategy tester.
Old inputs to hide Market Fib23 and Fib50 removed. It is not anymore needed.
If showing the higher timeframe on a lower timeframe chart the lines are now synchronized with the higher timeframe candle close.
Added a message in subwindow for the last signal with the time of your broker or local PC. This message can now be seen in a demo-backtest.
Added a new feature to draw lines in bold. This will override the automated choice for the base and quote currency.
New inputs under "other settings":
+ show line always bold (Comma separated CS list) - всегда отображать линии толстыми (список сил валют через запятую)
An application could be to show "risk on" assets like JPY & USD against "risk off" assets like CAD & AUD. Then add into the above-mentioned input the comma-separated list:
The sequence does not matter.
Changed default setting of the hook alert to 16 Market Fibs value angle/slope to not miss out on reversal alerts or possible take profits.
By default, the cross alert is now set to true.
As requested by customer
+ added arrow size
A timer for delay can now be edited if you wish:
+ arrow and alert delay seconds after restart (3 to 30)
Since last update was added open support charts for USD pairs.
Now you can also update all cross pairs.
+ run support charts also on cross pairs!
It will open only ONE update chart and update all cross pairs on this chart in the back ground. The function is set off by default. You need to change the input to true to use it.
Another magic function will automatically open 7 support charts in the background to speed up the broker feed and update the external history data. When the indicator is applied to another timeframe those charts will follow. While using multiple indicators those charts will be shared. (This function can be deactivated.) Please read the user manual blog.
+ open support charts!
For developers added:
Place a global variable with name "EAcall" and value of 123 to deactivate all alerts and unnecessary graphics.
To use the indicator as normal on a chart change this input.
+ easy EA calls: set global variable "EAcall"
Optimized drawings of the Outer MFib stop.
Optimized alert messages.
Added diverse time filters.
As requested by customer I added a special alert of a cross pattern. By default is not active.
=== Alert settings CS cross
+ activate currency cross functions (default false!)
+ cross market Fib slope
+ use 4 bars cross pattern (false = 3 bars)
+ alert currency cross
+ show triangle on subwindow
+ show vertical line for chart symbol
+ color for cross line
+ added arrows in sub-window to show strong currency momentum GAP.
+ added warning signs in the main window for individual chart when the base or quote currency is in oversold/overbought zone (outer market Fibonacci levels).
+ added pullback/reversal alert when currency strength drops back from outer range.
All the graphics are based on the new buffer which represents historical Market Fibonacci 23 line with dynamic Market Fibonacci values.
new input parameters:
==== Chart settings
+ draw GAP
+ GAP Market Fib (23)
+ draw Outer MFib stop
+ Outer MFib stop (100)
==== Alert settings
+ alert outer MFib Trigger HIT
+ alert outer MFib Trigger HOOK
+ outer MFib Trigger level
+ minimum hook GAP (28)
+ popup Alerts
+ send email alerts
+ send push alerts
==== Color settings
+ Arrow stop Color
Now you have the historical view and you can optimize the settings to your trading style and timeframe!
+ Added for developer Global variable with TF for Market Fibonacci 100 value.
The dynamic Market Fibonacci Level lines will reset after 2 candles by default and reflect so the actual Market activity.
Two visual setting has been added (it was requested):
+ HIDE Market Fibs 23 lines
+ HIDE Market Fibs 50 lines
(I would not hide but customer is king.)
+ Use currency specific characteristics!!
This updated indicator version has been coded to use each currencies specific characteristic! The character of a currency is what makes it act differently to another currency. Currency pairs have many characteristics. We have created a proprietary formula which takes account of this characteristic and many others and believe it is the first of its kind in the forex world. Therefore we can say each currency is handled on its OWN characteristics!
=== Currency Strength TF settings
- use higher TF (default=false. Use time frame of chart)
- higher time frame (min.=chart TF) (enter higher time frame of your choice. If chart time frame is the same or higher it will read chart time frame.)
=== Chart settings
- show buttons (if you use indicator more than once on a chart you may not need the buttons again, so you can turn it off for this sub-window)
- Line width Market (0=not) (Same reason: For higher time frame width = 0 will hide market line)
- User setting: Font spacing Y (big screen)
Vertical spacing for big screens like 4K monitors to correct currency names/buttons on bottom of sub-window.
- correction for time with automated reset Market Fibonacci