Currency Strength Exotics
This Indicator is specialized to show currency strength for any symbols like Exotic Pairs Commodities, Indexes or Futures. Is first of its kind, any symbol can be added to the 9th line to show TRUE CURRENCY STRENGTH of Gold, Silver, Oil, DAX, US30, MXN, TRY, CNH etc. This is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity?
User manual: click here
It works for all time frames. You will quickly be able to see the TREND! Designed on new underlying algorithms it makes it even easier to identify and confirm potential trades. This is because it graphically shows the strength or weakness of the 8 main currencies plus one Symbol!
The indicator shows the strength lines of the 8 main currencies (AUD CAD CHF EUR GBP JPY NZD USD) PLUS ONE SYMBOL MORE! This indicator shows the true value of the Symbol. For example: for XAUUSD (Gold): the price is quoted in US$. If Gold is moving up how do you can know if strength is with Gold or Weakness with US$? We would trade only if Gold is strong. The indicator extracts the true Strength of Gold and eliminates the quote currency US$. It handles Gold equally as a 9th currency. Furthermore, it shows market activity and Currency Strength Fibonacci reversal levels (Market Fibs).
Get your trade setup when currency strength builds a double-GAP (USD strength line and the exotic strength line showing opposite direction)! This strategy can be used by swing traders and scalpers alike. For swing traders, it shows when a new trend has been triggered and for scalpers, it shows which pairs are going to have movement. From our clients and our own experience, we know the indicator work so well that it is truly a case of 1+1= 3!
==== EXOTIC settings
- fix EXOTIC pair name (empty for XAUUSD and auto detect) (enter exotic pair name be fixed)
- auto-get EXOTIC pair name from chart (do auto detect exotic pair name from the chart)
- EXOTIC reverse line manually (Gold is reversed) (most products need be line-reversed because priced in USD)
- autodetect EXOTIC to reverse line (Automates the function above. If USD is found as base currency like USDMXN, USDSEK, the line will not be reversed.
- suffix for currency pairs (if EURUSD is called like EURUSDm then enter m)
==== Chart settings
- Line width base and quote CS (make thicker the currency of the chart)
- show USD line always thick (used with indexes...)
- Line width other 6 CS (the other currencies which are not part of the chart)
- Line other 6 CS dotted if width=1
- EXOTIC Line width same other 6 CS (false: exotic line always thicker)
- HIDE the other 6 CS lines (show only base and quote currency line)
- HIDE EXOTIC line if symbol is not on chart (true: no exotic line if a currency selected)
- Line width Market (0=not) (size of Market Momentum dot) (Market Activity)
- show Bars back (how many candles back the indicator prints the currency lines)
- quick chart open in new window (false: change pair in the same chart)
- Show CS labels end of line
==== Color settings
- You know how to use it. Euro is white, please change if you use white chart background.
=== other settings
- open support charts! - (Special: to update automatically the MetaTrader 4 history, 7 support charts will be opened! This function can be deactivated.)
- Font spacing X (big screen) (This is for those who have a big 4K monitor. It might be needed to add to horizontal spacing of the buttons.)
- Use my templates. (See Manual)
- If USD strength line and the exotic strength line show opposite direction it is a strong signal. (Double-GAP)
- Stay within the trend (GAP) of the higher time frame.
- Watch for reversal if the line is at Market Fibonacci 161 or 261.
- Check chart history at what levels the Symbol do often reverse.
- SPECIAL: To update the MT4 chart history use the 7 support charts (see Manual)!
- Check my news and blogs on profile for trading system and trade examples.
I will always help you if you have any questions.
I wish you many green pips in the future.
Best Regards, Bernhard
+ open support charts!
+ The other currencies which are not part of the actual chart can be shown as dashed.
+ USD which is mostly the quote currency of indexes and commodities can be shown always bold.
The default parameter for "show USD line always thick" is changed to 'true'.
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.)
=== New function included
+ The line volatility of Exotic pair or product is now visually better adapted.
=== EXOTIC settings
+ The input "Reverse line manually" is now set to false as default.
+ New is the input "auto detect reverse line". It is set to true as default.
This new input automates the function before called "reverse line manually". With input "auto detect reverse line"=true the line of gold, DAX, Oil, US30... will be automatically reversed because USD is considered as quote currency. If USD is found in the pair as base currency like USDMXN, USDSEK, the line will not be reversed. To turn auto detect off set it to false.
(To reverse the line manually for another view of USDMXN or USDSEK set "reverse line manually"=true and "auto detect reverse line"=false.)
Now it is easier to switch between pairs without to open the settings.