I present you an indicator with a non-standard analysis. Its advantage is an original calculation of the "market index" of a currency. The algorithm of these calculations is as follows - for the currency pair (can be one of the 28 major currency pairs), it calculates the "market indices". In other words, it calculates the average value of the two constituent currencies among the eight currencies. After that, the value obtained from dividing those indices is averaged in the selected period and compared with the initial value for that period and with the previous value. Thus, it obtains the change in the indices of the currency pairs among the 28 major pairs.
A line is displayed in a separate window. It can be monitored to determine the best moment for opening or closing a trade. If the line value crosses the zero level downwards, the prices start falling. If it crosses upwards, the prices start rising.
- Period - working period, the number of candles/bars for calculations. (Minimum value is 2).
- History Depth - depth of the analyzed history. (Minimum value is Period+1).
- Prefix - prefix in the name of the currency pair.
- Suffix - suffix in the name of the currency pair.
The indicator analyzes the movement of 28 currency pairs. They are not required to be available for the indicator to work. If your broker does not provide some of them, the indicator excludes them from its initial list.