I have been testing Correll8b for a few weeks now and am pretty impressed. So much so that I would like to try it on cross-pairs as well. However, when I attached this indicator to some of these cross-pairs I noticed the strengths tended to correlate with each other. After thinking about it for some time I realized this makes sense - each non USD pair had its strength calculated compared to the USD, meaning half of the weight of each non USD strength share 50% of their calculation.
My question to you all is this: If I want to use this indicator on EUR cross pairs, for example, will I need to edit the code so the calculations are done on EUR based pairs (EURCAD, EURGBP, EURJPY etc.)? klakhiani - Is this what you were talking about in your previous post? Or have I overlooked something? I figured I should get confirmation on my idea before diving into another coding project. Thanks!
There are only three changes you need to make to change to base EUR, for instance.
//--- symbols to use
//--- currency labels
//--- currencies to display
//--- invert USD based values
//--- calculate each currency's value
The difference is quite negligible though.
Percent range can still be used. Select Stochastic oscillator from the drop-down menu and make Slowing=1.
Sure, no worries. It's included with the other file. Checks for incoming ticks from all the symbols.