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Fxpod Currency Panel
Currency panel is a bird eye of all currency on all timeframe. It will help traders to determine which currency pair to trade on a single Chart. The Indicator will show currency pair trend by grouping them.
How to trade with Currency Panel?
Use the Currency Panel as your first filter. You will need to use your own strategy for entry, but Currency Panel will be the best tools for you to find the candidate. For example breakout trader: break out trader it is best to follow major trend, look for H4, D1 or maybe W1 trend, and then trader can look for the lower timeframe. Probably trader will wait until M1/M5 timeframe start to move to direction. Trader can go to specific chart to look out for entry, take profit and stop loss with Support and Resistance.
Setting up the indicator
- To use the indicator please prepare 1 empty chart, open any chart. It is better to put on a liquid chart such as EURUSD, GBPUSD, EURJPY, GBPJPY.
- After that change the chart type into line and change the chart background into white background.
- Change the line chart property colour become none from the Chart Property (right click the chart and choose background).
- Finally you can attach the Indicator.
- Number of Column: Default is 4, it will be depend on traders Screen size.
- Column Width: Column width in pixels
- Starting Period: Trader can choose the starting period to analyst, we start from 1 minute chart until weekly chart.
- Ending Period: (see above)
- Text Colour: Colour for text, use black/gray when the background is white. Default value is gray we assume you are using white background as we usually do.
- Up trend Colour: Colour for up trend. Uptrend is when Fast MA is above the Slow MA and the distance between Fast MA and Trend MA above threshold (around 0.5 ATR)
- Down trend Colour: Colour for down trend. Down trend is when Fast MA is below Slow MA and the distance between Fast MA and Trend MA below -threshold (around -0.5 ATR)
- Sideways Colour: Colour for sideways/no clear trend. It is when distance between Fast MA and Trend MA around 0.5 ATR to -0.5 ATR.
- Fast MA: Default period for Fast Moving Average, MA 5.
- Slow MA: Default period for Slow Moving Average MA 22.
- Trend MA: Default period to determine trend and the currency strength, MA 50.
- Calculation Method: The Moving Average Calculation Method
Note: this indicator is taking all currency pair for calculation you need to show all symbol from your market watch. Download our Download Bar - All Currency Chart Data Expert Advisor for free from the market in order to prepare all the currency chart data.