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 CAD with average - indicator for MetaTrader 4

JAN OPOCENSKY | English Español Português 日本語 Deutsch

Views:
966
Rating:
votes: 5
Published:
2020.07.15 19:47
Updated:
2020.08.01 13:44

Power of XXX with average indicator description.


The indicator is othre version of previously published indicator showing relative actual strength of currency XXX.

Zero line (0.0) presents average with chosen period (AveragePeriod variable).

CandleNumber variable defines how many candles will be calculated.

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

The indicator can be used for MEAN REVERSION based strategies.

Colored histogram was added to simplify interpretation of the market situation.


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

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

You can have 2 relevant situations.



  1. Both histograms are GREEN. 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).



  1. Both histograms are RED. 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).


Power of AUD with average Power of AUD with average

Power of AUD indicator with average 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.

Daily Pivot, Resistance and Support Levels Assist Daily Pivot, Resistance and Support Levels Assist

This is an indicator on Daily Pivot Points and Support and Resistance levels.

Power of EUR with average Power of EUR with average

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 GBP with average Power of GBP with average

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.