Advanced Currency Strength28 MT5
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 Forex pairs! 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
- Arrows in sub-window to show strong currency momentum GAP will guide your trading!
- Warning signs in the main window of the individual chart when the base or quote currency is in oversold/overbought zone (outer market Fibonacci levels).
- Pullback/reversal alert when currency strength drops back from the outer range.
- Special alert of a cross pattern.
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 a 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.
All the graphics are based on the new buffer which represents historical Market Fibonacci 23 line with dynamic Market Fibonacci values.
Now you have the historical view and you can optimize the settings to your trading style and timeframe!
Indicator parameters (Selection! To see the full list click here.)
==== Chart settings
- draw GAP arrows in sub-window to show strong currency momentum GAP
- GAP Market Fib (23) angle/slope of currency to draw arrow
- draw Outer MFib stop (100) pullback/reversal alert when currency strength drops back from outer range. For M1 use at least 161 or more.
- Outer MFib stop (100) warning signs in the main window for individual chart when the base or quote currency is in oversold/overbought zone outer market Fibonacci levels. For M1 use at least 161 or more.
- 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 the chart to GBPJPY. Set to false: change pair on a chart. Set to true: Open the pair in new window
=== Alert settings
- alert outer MFib Trigger HIT (alert when currency strength reach outer Market Fib levels)
- alert outer MFib Trigger HOOK (pullback/reversal alert when currency strength drops back from outer range)
- outer MFib Trigger level (161) (Alert level)
- minimum hook GAP (28) (inside GAP slope value)
=== Alert settings CS cross
- cross market Fib slope
- use 4 bars cross pattern (false = 3 bars)
- alert currency cross
- show triangle on subwindow
- show vertical line for chart symbol
- SPECIAL: To get MT5 chart history 7 support charts will be opened (see manual)! This function can be deactivated.
- Use my template. See manual
- If you use “open chart in new window” save your favorite template with the size of half the MT5 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.
I wish you many green pips in the future.
Best Regards, Bernhard
Also a timer for delay can now be added if you wish:
==== other settings
+ pause runs in seconds to next update (for less CPU use)
It will pause on the live candle instead of using every tick.
Default is 0 (not used).
+ added update cross pairs
Since the last update was added open support charts for USD pairs.
Now you can also update all cross pairs.
+ run support charts also on cross pairs!
It will open only ONE update chart and update all cross pairs on this chart in the back ground.
+ Optimized drawings of the arrows in the sub-window. They will now draw faster.
Made sure the indicator will draw also in the weekend without ticks when the market is closed.
+ added arrows in sub-window to show strong currency momentum GAP.
+ added warning signs in the main window for individual chart when the base or quote currency is in oversold/overbought zone (outer market Fibonacci levels).
+ added pullback/reversal alert when currency strength drops back from outer range.
+ As requested by customer I added a special alert of a cross pattern.
All the graphics are based on the new buffer which represents historical Market Fibonacci 23 with dynamic Market Fibonacci values.
NEW INPUT PARAMETERS:
+ draw GAP
+ GAP Market Fib (23)
+ draw Outer MFib stop
+ Outer MFib stop (100)
==== Alert settings
+ alert outer MFib Trigger HIT
+ alert outer MFib Trigger HOOK
+ outer MFib Trigger level
+ minimum hook GAP (28)
+ popup Alerts
+ send email alerts
+ send push alerts
+ Arrow stop Color
=== Alert settings CS cross
+ activate currency cross functions
+ cross market Fib slope
+ use 4 bars cross pattern (false = 3 bars)
+ alert currency cross
+ show triangle on subwindow
+ show vertical line for chart symbol
+ color for cross line
Another magic function will open 7 support charts to speed up the broker feed and the external history data.
+ open support charts!