Indicators: Power of CAD with average
Hi i love these indicators but if i put counter trend, i sell when its green and buy when its red?
Hi Christopher,
instance pair EUR / USD:
1. You have to use 2 indicators: Power of EUR ... and Power of USD ....
2. You have to choose which stratetegy you want to use TREND or COUNTER-TREND.
3. You switch in both indicators option TREND or COUNTER-TREND. The same option for both. Both TREND or both COUNTER-TREND.
4. You wait for the moment when both indicators show the same color.
A) Both show GREEN you BUY
B) Both show RED you SELL .
Regards.
Jan.
HellO Jan
When using this indicator on a 15m chart you will always have one pair lead the trend, so Is it advisable to take the trade based on the first to turn at a particular level?
HellO Jan
When using this indicator on a 15m chart you will always have one pair lead the trend, so Is it advisable to take the trade based on the first to turn at a particular level?
hello 14001040,
interesting idea. have no clue to be honest.
my observation on leves indicates that levels (such as round numbers for eaxample) can both attract and stop price moves but also to turn them into opposite direction.
i actually use the levels as take profit areas more than entry points (areas).
jan.
ps:
snapshot of one of the profiles i use with indicators follows.
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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.
Author: JAN OPOCENSKY