Currency power correlation MACD
The indicator shows the convergence/divergence of the moving averages of strength lines of the selected currency as a 4-colored histogram. The intersection of the zero mark by the signal line is additionally confirmed by toggled arrows on the chart. It is possible to select the display of both the direct ratio EURUSD and the reverse ratio USDEUR. The currencies are selected regardless of the currency pair of the chart the indicator is attached to. Apart from the main smoothing of the calculation period values, it is possible to enable an additional smoothing of the resulting difference of the values (signal line). Among the additional indicator buffers there is a buffer which records the absence of data (chart gaps) for each calculated bar. The indicator can also work with brokers using currency prefixes, such as "EURUSD.m", for that it is necessary to enter the value into the corresponding parameter. The number of currency pairs for the analysis is regulated and is initially set to 13 currency pairs, collected on a combination of used currencies from 8 majors, to speed up the calculations it is recommended to use only those currency pairs, among which the used currency is present, that is the set for the analysis of the EUR and USD consists of 13 pairs and will look like this:
The indicator is based on the algorithm of the Currency Power Meter Linear indicator.
- PowerPeriod - period of the currency strength analysis,
- HistoryBars - limit of calculation and display of the historical data of the indicator in bars to speed up the performance,
- SmoothingPeriod - smoothing period of the analyzed data,
- SmoothingMethod - smoothing method of the analyzed data,
- CorrelationSmoothingPeriod - smoothing period of the total difference of the currency strength (signal line).
- CorrelationSmoothingMethod - smoothing method of the total difference of the currency strength (signal line).
- ShowZeroCrossArrows - enable/disable additional display of intersection of the zero value of the indicator on the main chart using arrows.
- UseAbsoluteValues - use absolute values, otherwise the values are rounded to steps of the array of the inner range,
- ArrowShift - up/down shift of the arrow displaying the intersection of the zero value on the main chart,
- ArrowUpColor - color of the arrow showing the upwards crossing of the zero,
- ArrowDnColor - color of the arrow showing the downwards crossing of the zero,
- ArrowUpCode - symbol code of the arrow showing the upwards crossing of the zero,
- ArrowDnCode - symbol code of the arrow showing the upwards crossing of the zero,
- ArrowsSize - arrow size,
- AddDigits - increased accuracy of values by adding decimal places,
- CurrencyMain - name of the main currency (currency pair numerator)
- CurrencyDiv - name of the additional currency (currency pair denominator)
- UsePairs - the currency pair list of the currencies used for the analysis of the currency strengths, separated by commas, if your broker does not support any of the pairs, it needs to be removed from the list,
- PairPreffix - prefix of the currency pair names of your broker (if there is one, otherwise leave the parameter blank),
- ShowWarningComments - enable/disable warning display. including the error warnings, in the comments,
- ShowHolesCount - enable/disable the display of the information on absence of the chart data (gaps).