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Indicator of correlation and divergence of currency pairs - all pairs on one price chart. It shows all pair that are open in the terminal. Full synchronization of all charts.
Does not work in the tester!
Traders who use multicurrency trading strategies can visually observe the price movement of selected pairs on a single price chart in order to compare the parameters of their movement. This is an advanced and extended version of the OverLay Chart indicator
It is quite effective assistant for multicurrency trading - "paired trading" and "portfolio trading". It helps identify the emerging movements in advance.
The method consists of two strategies. The first one is designed to search for divergences between the currency pairs after a release of high-impact news or at the time the trading floors open. The logic of such operation is extremely simple. It is based on the assumption that once the "storm" in the market subsides, the delta between the price of instruments will begin to converge. It is recommended to pay attention to strong support and resistance levels, in order to avoid buying right under a strong resistance and selling at the very bottom.
Identification of false breakouts of the support/resistance levels.
- Invert any pair on the chart
- Identify the regularities in history in the form of virtual buys or sells of multiple pairs
- Calculates the distance in points the price had passed on the selected interval
- Visually determine the strength of the currency movement
- Select different display color for each currency pair
- Display style: Bars, Candles, Lines, Heiken Ashi
- Synchronization of timeframes and scrolling of all charts
- Ability to trade any pair on one main chart
- Alert when exceeding the price change in "Points" per "Time"
It can be conveniently used in conjunction with the "CorrelatePairs" indicator
The indicator should be placed on one chart!
Does not work in the tester!
See the video for more details
The EA used in the video is attached in the Comments section (attach to one chart only!)
- General Setting
- Show Instrument - select the market type: Forex, CFD, Futures, Indices
- Count letters NameSymbol - the number of displayed characters on the buttons
- Sort Symbol Name - sort the symbols
- Amount of buttons in the column - the number of buttons in the column
- Lot calculation - lot for calculation
- Line back in history - the number of look back bars during the first installation and timeframe switching
- Lines are always visible - lines are always visible on the chart when scrolling
- Synchronize all charts - synchronize all charts
- Show on the Bar/Candle/Line
- What to show? - price/symbol
- Color Grid
- Color Grid - color of the grid
- Setting Heiken Ashi/MA(line) (Builds on MA)
- MA Method ( SMA | EMA | SMMA | LWMA ) - averaging method for Heiken Ashi
- Ma Period Default - default averaging period
- Setting Time Price Change (Speed)
- Control Time (sec) "0" - OFF - time between checks in seconds
- Averaging period ATR (Day) - ATR calculation period
- Price change percentage of ATR (%) - price change as a percentage for generating Alerts
- Show Button Pivot
- Show Button Pivot - show the Pivot button (Yes/No)
- Show line in all charts
- Show line in all charts - show the synchronized lines on all charts (Yes/No)