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Indicators

Power of GBP with average - indicator for MetaTrader 4

JAN OPOCENSKY | English Español Português 日本語 Deutsch

Views:
2001
Rating:
votes: 7
Published:
2020.07.15 19:53
Updated:
2020.08.01 13:50

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 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 CAD with average Power of CAD with average

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 CHF with average Power of CHF with average

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 JPY with average Power of JPY with average

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.