Multi Symbol Price Divergence v2
This is the second version of the indicator Multi Symbol Price Divergence intended for analyzing the price movement of multiple instruments at the same period of time. In this version, the graphical series of the indicator are displayed in the subwindow of a chart, and the start of the price divergence is located at the zero point of the vertical scale. Note, that in the first version, the start point is the price of the current instrument.
New features are introduced. One can specify up to 9 instruments in the input parameters. Thus one can analyze up to 10 symbols in total including the current one. The indicator detects whether the specified symbols are available on the server and adds them to Market Watch. If you need less symbols, just leave empty values. The measure units of the indicator are points. One can specify the number of levels, the start value for placing the levels and the number of points between the levels. The levels are placed in both directions from zero (+/-). For example, if one specifies 5 levels, 5 levels in each direction will be set.
For the prices of a symbol, you can turn on the inversion. In other words, if the inversion is turned on for a symbol, its price will be flipped. This can be useful, when the list of the symbols analyzed includes currency pairs based on, for example, USD (US dollar). USD can be either the underlying currency or the quoted currency. For example, in EURUSD pair, USD is the quoted currency, and in USDCHF, it is the underlying currency. If the current symbol on the chart is EURUSD, then you can turn on the inversion for USDCHF, what will make the representation of the prices more convenient for the analysis.
Input Parameters of the Indicator:
- Draw Type - type of graphical representation. One of three types can be selected: LINES, BARS and CANDLES.
- Start Price Divergence - in this parameter, one can choose a mode of representation of data. In other words, you can choose a point/points where the prices of all symbols will converge. It allows tracking the divergence of prices during a certain period that ends at the next point. In the dropdown list one of five available modes can be selected: Month, Week, Day, Hour.
- Two Colored Bars/Candles - if the BARS or CANDLES mode of graphical representation is selected, then by enabling this option you will turn on the two-color mode of displaying the data. In other words, the up bars/candlestick will have a lighter color than that of the down bars/candlesticks.
- Symbol 02 - second symbol. On default, it is GBPUSD.
- Inverse Symbol 02 - inversion of the second symbol.
- Symbol 03 - third symbol. On default it is AUDUSD.
- Inverse Symbol 03 - inversion of the third symbol.
- Symbol 04 - fourth symbol. On default, it is NZDUSD.
- Inverse Symbol 04 - inversion of the fourth symbol.
- Symbol 05 - fifth symbol. On default it is USDCAD.
- Inverse Symbol 05 - inversion of the fifth symbol.
- Symbol 06 - sixth symbol. On default, it is USDCHF.
- Inverse Symbol 06 - inversion of the sixth symbol.
- Symbol 07 - seventh symbol. On default, it is GBPJPY.
- Inverse Symbol 07 - inversion of the seventh symbol.
- Symbol 08 - eight symbol. On default, it is set to USDJPY.
- Inverse Symbol 08 - inversion of the eight symbol.
- Symbol 09 - ninth symbol. On default, it is set to AUDJPY.
- Inverse Symbol 09 - inversion of the ninth symbol.
- Symbol 10 - tenth symbol. On default, it is set to EURJPY.
- Inverse Symbol 10 - inversion of the tenth symbol.
- Number of Levels - number of levels.
- Start Level - value of the fist level that will be used for calculating the rest of levels.
- Levels Step - distance between the levels in points.
- Levels Color - color of the levels.
A more detailed description is available at my website: multicurrency indicator in a chart subwindow Multi Symbol Price Divergence (version 2).