Advanced Currency Strength28 Indicator
This Indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. With only ONE chart you can read Currency Strength for 28 pairs! Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity?
Now available with multi time frame choice to see quickly the TREND! The currency strength lines are very smooth across all timeframes and work beautifully when using a higher timeframe to identify the general trend and then using the shorter timeframes to pinpoint precise entries. You can choose any time frame as you wish. Every time frame is optimized by its own.
Built on new underlying algorithms it makes it even easier to identify and confirm potential trades. This is because it graphically shows whether the strength or weakness of a currency is increasing or not and how it performed in the past. These features were designed to help make it easier for you to not only identify which are the strong and weak currencies but to also show you when to trade, when not to trade and when to take profits.
Advanced Currency Strength28 Indicator works on all THE 28 currency pairs. It is a new formula, and the very new features are Market Momentum and dynamic Market Fibonacci Levels which adapt to current market activity! Market Momentum is the 9th line. This is great advantage and new in Forex trading. When you learn how to use the proprietary features such as the market momentum and market Fibonacci lines you will be able to tell whether you want to trade with the trend, look for a trend continuation or a pullback.
=== Currency Strength TF settings
- use higher TF (set true for use higher time frame)
- higher time frame (min.=chart TF) (Choose the higher time frame. You can add indicator trice on chart.)
==== Chart settings
- Line width base and quote CS (make thicker the currency of the chart)
- Line width other 6 CS (the other currencies which are not part of the chart)
- HIDE the other 6 CS lines (do not show the other currencies)
- Line width Market (size of Market Momentum dot)
- show Bars back (how many candles back the indicator prints the currency lines)
- reset Market Fibonacci after candles (Market Fibonacci Lines are calculated at actual market conditions when the indicator is opened or a timeframe is changed. If you do not change the timeframe, the Market Fibonacci Lines are automatically new calculated after X candles)
- quick chart open in new window (To change the pair on the chart just click the currency names. Click two names to build a pair. Simple: click GBP and JPY to change chart to GBPJPY. Set to false: change pair on chart. Set to true: Open the pair in new window)
- Font size button (size of currency names or buttons)
- Show buttons (hide buttons if you use indicator with MTF twice on chart)
- Show CS labels (Currency names labels on the left of each currency line. Show or hide)
- CS label size
==== Color settings
- AUD Color (currency line colors, change to your needs)
- CAD Color
- CHF Color
- EUR Color (Euro is white, please change if you use white chart background)
- GBP Color
- JPY Color
- NZD Color
- USD Color
- Market Color (Market Momentum dot color)
- Market Fibs Color 0 (NULL level)
- Market Fibs 23 Color
- Market Fibs 50 Color
- Market Fibs 100 Color
- Market Fibs 161 Color (Market Fibonacci Reversal Zone 161 for CURRENCY)
- Market Fibs 261 Color (Market Fibonacci Reversal Zone 261 for CURRENCY)
- background Color button (background color of currency names or buttons. If you like to use your chart color)
- Font spacing X (big screen) (This is for those who have big 4K monitor. It might be needed to add to spacing of the buttons)
- Font spacing Y (big screen) (Vertical spacing for big screens)
- GET FIRST MT4 CHART HISTORY ! (See comments)
- Use my template. (See comments)
- If you use “open chart in new window” save your favourite template with the size of half the MT4 chart window to the name "default". So your personal template will always be applied.
- Stay within the trend (currency GAP) of the higher time frame.
- Look for the currency double-GAP as trade setup.
- Check my news and blogs on profile for trading system and trade examples.
I will always help you if you have any questions.
Thanks, I wish you many green pips in the future.
The dynamic Market Fibonacci Level lines will reset after 2 candles by default and reflect so the actual Market activity.
Two visual setting has been added (it was requested):
+ HIDE Market Fibs 23 lines
+ HIDE Market Fibs 50 lines
(I would not hide but customer is king.)
+ Use currency specific characteristics!!
This updated indicator version has been coded to use each currencies specific characteristic! The character of a currency is what makes it act differently to another currency. Currency pairs have many characteristics. We have created a proprietary formula which takes account of this characteristic and many others and believe it is the first of its kind in the forex world. Therefore we can say each currency is handled on its OWN characteristics!
=== Currency Strength TF settings
- use higher TF (default=false. Use time frame of chart)
- higher time frame (min.=chart TF) (enter higher time frame of your choice. If chart time frame is the same or higher it will read chart time frame.)
=== Chart settings
- show buttons (if you use indicator more than once on a chart you may not need the buttons again, so you can turn it off for this sub-window)
- Line width Market (0=not) (Same reason: For higher time frame width = 0 will hide market line)
- User setting: Font spacing Y (big screen)
Vertical spacing for big screens like 4K monitors to correct currency names/buttons on bottom of sub-window.
- correction for time with automated reset Market Fibonacci