Advanced Currency Strength28 Indicator USER MANUAL

Advanced Currency Strength28 Indicator USER MANUAL

6 June 2017, 18:10
Bernhard Schweigert
21
8 460

Advanced Currency Strength28 Indicator USER MANUAL

This indicator is part of a complete trading strategy!

The 28Pairs Currency Strength Trading System - also known as Double-GAP Strategy - is our primary trading philosophy and is based on exploiting individual currency strength and weakness. Please click here.

What is Advanced Currency Strength28 Indicator?

It is the first of its kind in Forex Trading to show CURRENCY STRENGTH with a new formula and very new features!


ACS28 V3


There are big differences with common currency strength indicators. We have invented is a new formula to calculate currency strength and the very new features Market Momentum and dynamic Market Fibonacci Levels which adapt to current market activity! Market momentum is the 9th line. It lets you know if the Market is active or passive. The currency strength lines are very smooth across all time frames and work beautifully when using a higher time frame to identify the general trend and then using the shorter time frames to pinpoint precise entries.

  • Each time frame is optimized on its own!
  • Multi-time-frame settings.
  • Each currency is handled by its own characteristics!
  • Market Fibonacci levels for currency strength are applied. They are dynamic and adapt to the actual market activity.
  • Arrows to show strong currency momentum GAP in the sub-window.
  • Warning signs for individual chart when a currency is in oversold/overbought zone (outer market Fibonacci levels) in the main window.
  • Hit- and pullback/reversal alert when currency strength drops back from the outer range.
  • special cross pattern alert.
  • Data calls from external pairs are reduced.
  • Automated support charts to speed up broker feed.
  • Buttons to quick change chart.

That's why all traders say it is the best currency strength indicator.

Ones the indicator is added to only ONE chart the indicator gives you the signals for all 28 forex pairs and also draws the historical signals and momentum on the actual chart.


You have the historical view and you can optimize the settings to your trading style and timeframe!


ACS28 version 3

The arrow in the subwindow shows when a currency line reached the required minimum angle/slope. In the picture above it is the value 23 which represents the distance between the zero line and the 23 Market Fibonacci. This way the zoom of the chart will not affect the results. The value is editable.

New features in version 3.0

Outer market Fibonacci hit (here with input 161)  Warning Alert.

Showing here currency strength line CAD has reached lower Market Fib -161.

Now make attention. If you are already in a trade to check if it is advised to take your profit or to trail your stop loss into profit.

If the price is near S/R, supply/demand price is likely to pull back because CAD strength is exhausted.

outer MFib 161 hit CAD


Same chart as above some time later.

We had already the alert of CAD hit outer market Fib. Now the green currency strength line CAD is pulling back from lower outer range into the inner zone. The purple stopper sign is printed above the candles.

Meaning the CAD weakness is strengthening. The actual chart is USDCAD. So CAD is quote currency. In this case, we have to invert. A stronger CAD means for usdCAD to sell.

outer MFib 161 hit CAD


Again sometime later:

The green currency strength line CAD is further rising and crossed the white zero line. CAD might go further but now the base currency USD has hit the Market Fib -161. Which means again for the actual pair USDCAD to make attention. So if you sold USDCAD you would now think about to take profit or trail the stop loss into profit. And the game starts again...

outer MFib 161 hit CAD


Showing the arrow in sub-window if minimum GAP is reached (value is an editable input). Showing warning sign in the main window when the base or quote currency is at outer Market Fibonacci Levels, (value is an editable input).

GAP and 161 MFib



Video how to trade the double GAP (Version 2)




Indicator input parameters:


Advanced Currency Strength28 Indicator


Advanced Currency Strength28 Indicator


Indicator parameters

=== Currency Strength TF settings

  • use higher TF (set true for use higher time frame)higher time frame (min.=chart TF) (
  • Choose the 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 characteristics)
  • Line width base and quote CS (make thicker the currency of the chart)
  • Line width other 6 CS (the other currencies which are not part of the chart)
  • Line other 6 CS dotted if width=1 
  • HIDE the other 6 CS lines (do not show the other currencies)
  • Line width Market (0=not) (size of Market Momentum dot, 0=hide)
  • draw Market line as a cross
  • draw GAP (arrows in sub-window to show strong currency momentum GAP)
  • GAP Market Fib (23) (angle/slope of currency to draw arrow)
  • draw Outer MFib stop (100) (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.)
  • show Bars back (how many candles back the indicator prints the currency lines)
  • quick chart to 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 the chart. Set to true: Open the pair in a new window)
  • Font size button
  • Show buttons (hide buttons if you use indicator with MTF twice on chart)
  • Show CS labels (Currency names labels on the left of each currency line. Show or hide)
  • CS label size

=== 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 (16-28) (inside GAP slope value)
  • popup Alerts
  • send email alerts
  • send push alerts

=== Alert settings CS cross

  • activate currency cross functions
  • 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 settings

  • EUR Color (Euro is white, please change if you use white chart background)
  • For the rest of the colors, and text sizes, you know how to use it...

=== other settings

  • open support charts!
  • run support charts also on cross pairs!
  • arrow size (1 to 5)
  • HIDE Market Fibs 23 lines
  • HIDE Market Fibs 50 lines
  • Font spacing X (big screen)
  • Font spacing Y (big screen)
  • Label font
  • arrow and alert delay seconds after restart (3 to 30)

=== for developers

  • write Global variable MFib100 (for developers: "MFib100-"+Period)


Tips

  1. Use my template. (Download on comment #1 below)
  2. GET FIRST MT4 CHART HISTORY! (See comments Page 1, Post #3 & #5-7 if you want try the demo!) For the live version it is automated.
  3. Stay within the trend (currency GAP) of the higher time frame.
  4. Look for the currency double-GAP as trade setup.
  5. Check my news and blogs on profile for trading system and trade examples.

ACS28 is a multi-signals, multi-timeframes, multi-pairs indicator. It works for all time frames and gives all 28 pairs signal on a single chart, and it is super configurable.

So PLEASE take your time and study it VERY good. This indicator is not like a bicycle to driving but like a helicopter to fly.

There are 5 signals in one indicator!

  • outer Market Fibs Hit alert, (Currency Strength extreme levels)
  • Hook alert, (Currency Strength reversal from extreme levels)
  • Cross alert, (Currency Strength cross pattern)
  • GAP arrow, (Currency Strength minimum angle/slope)
  • pink X warning sign. (Currency Strength extreme level warning)

Each one signal can be edited in its trigger value. As each trader has its own views on the Market choose which one you want to trade. You can apply many different settings so it will fit perfectly to your trading style and psychology.


!!! THE NEW VERSION 3.4 IS ONLINE !!!
--- as from today 4. October 2017 ---

  • Optimized the function and the message for the update quote charts. The update on cross pairs is now set to true. External chart data should continuously be updated. 
  • 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.

It takes usually 1 day until the update is available via your MT4. If you wish you can save the old version. Then copy the indicator file (before updating) in a safe place outside of MT4.


I will always help you if you have any questions.

Thanks, I wish you many green pips in the future.

Best regards, Bernhard


Get the indicator direct from mql5 now: MT4 click here.

https://www.mql5.com/en/market/product/13948

The MQL5 licenses itself give you the option to use the indicator on unlimited MT4 accounts on the same computer and you can do activations for 5 computers. As well for updates, it is easy. You will be notified and then you can download.

update

Check the message on MT4 in upper right corner.

If you missed the message click on what's new to see the last version.

whats new

Then click indicator properties the first tab "About" to see what you have.

about

Oops, about is newer? Well yes, that's mine. :)

It will be released soon...

Use my templates. Email me to get the latest support files.
bernhardfxcontact@gmail.com



THIS MANUAL WILL BE continuously be UPDATED !! So check again.


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