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Indicators

Power of USD - indicator for MetaTrader 4

JAN OPOCENSKY
Views:
37197
Rating:
(27)
Published:
2020.04.06 12:43
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 NZD Power of NZD

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

    The Currency Strength indicator shows the relative strength of a currency compared to seven other currencies. The Currency Strength indicator shows the relative strength of a currency compared to seven other currencies.

    Simply select one of the main currencies (AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD) as "Currency" in the settings.

    OC Momentum OC Momentum

    Simple oscillator with a histogram.