Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

Indicators

Power of CHF - indicator for MetaTrader 4

JAN OPOCENSKY | English Español Português 日本語 Deutsch

Views:
2392
Rating:
votes: 6
Published:
2020.04.06 12:12

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 EUR Power of EUR

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

    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 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.

    Power of JPY Power of JPY

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