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Indicators

Power of JPY with average - indicator for MetaTrader 4

JAN OPOCENSKY | English Español Português 日本語 Deutsch

Views:
1833
Rating:
votes: 4
Published:
2020.07.15 20:00
Updated:
2020.08.01 13:51

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 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 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.

Power of NZD with average Power of NZD with average

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 USD with average Power of USD with average

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