Indicators: Power of AUD
Thank you, am grateful to you for contributing your Power of... indicator as well as your sage advice on judging support and resistance levels.
Here you are using USD/CAD pair which implies the Power of Aud can be used on other pairs too!!!
Hi,
I am not sure. Possibly it can work on any TF or you can combine more Tf together.
Be so kind to take into consideration that the indicator can give you one information about of price.
Simply the price is in extreme not only on particular price pair for instance AUDJPY but also on AUDXXX.
One way to use the indicator is to combine it with SR level.
In terms of TF you can try to take information about longer extreme from longer TF such as D1 and than search for extremes on shorter TF such as H1.
Regards.
Jan.
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Power of AUD:
Power of AUD indicator shows actual strength of currency AUD calculated of 7 pairs that contains 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.
Author: JAN OPOCENSKY