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Indicators

Power of EUR - indicator for MetaTrader 4

JAN OPOCENSKY
Views:
15112
Rating:
(21)
Published:
2020.04.06 12:06
Download as ZIP, How to download code from MetaEditor
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Power of XXX indicator description.


The indicator is showing relative actual strength of currency XXX.

The indicator calculates its value of close prices of 7 pairs containing currency XXX.

The indicator can be used for MEAN REVERSION based strategies.


Lets assume XXX YYY currency pair scheme where XXX is BASE currency and YYY is QUOTEcurrency.

Place Power of XXX into your chart first and Power of YYY second.

You can have 2 relevant situations.



  1. Indicators curves are close to each other. It means there is higher probability that the price of the pair XXX YYY will go UP.

    Do not take Power of .. signals separately from overall market situation (SR levels/zones and so on).   

UP



  1. Indicators curves are FAR from each other. It means there is higher probability that the price of the pair XXX YYY will go DOWN.

    Do not take Power of .. signals separately from overall market situation (SR levels/zones and so on).


DOWN

    Power of CAD Power of CAD

    Power of CAD indicator shows actual strength of currency CAD calculated of 7 pairs that contain CAD. Indicator can be used for strategies based on mean reversion and/or correlation. Included pairs: USD CAD, AUD CAD, CAD JPY, EUR CAD, GBP CAD, NZD CAD, CAD CHF.

    Power of AUD Power of AUD

    Power of AUD indicator shows actual strength of currency AUD calculated of 7 pairs that contain AUD. Indicator can be used for strategies based on mean reversion and/or correlation. Included pairs: EUR AUD, GBP AUD, AUD USD, AUD CAD, AUD NZD, AUD JPY, AUD CHF.

    Power of CHF Power of CHF

    Power of CHF indicator shows actual strength of currency CHF calculated of 7 pairs that contain CHF. Indicator can be used for strategies based on mean reversion and/or correlation. Included pairs: EUR CHF, USD CHF, GBP CHF, CAD CHF, AUD CHF, NZD CHF, CHF JPY.

    Power of GBP Power of GBP

    Power of GBP indicator shows actual strength of currency GBP calculated of 7 pairs that contain GBP. Indicator can be used for strategies based on mean reversion and/or correlation. Included pairs: EUR GBP, GBP USD, GBP JPY, GBP AUD, GBP CAD, GBP NZD, GBP CHF.