The indicator displays trend diagrams of 1 to 10 pairs, as well as a trend line of the current chart.
The scales of the diagrams can be changed in the menu or using the input box on the chart. It does not depend on the chart the indicator is attached to.
The height of the columns exactly corresponds to the difference between the beginning and the end of the trend line. A tooltip of each column displays the name of the pair and the rise/fall value.
The initial values of TimeFrame, Periods and Scale are set in the menu, they can be modified on the chart using the input boxes.
- TimeFrame - the initial timeframe value. Can be changed on the chart.
- Periods - the initial value of the number of periods. Can be changed on the chart.
- Scale - the initial value of the chart scale. Can be changed on the chart.
- Shift from left - Shift from top - the initial coordinates of the output, in pixels. It can be dragged to any location.
- tool_1 - tool_10 - names of the currency pairs. All entered names must be present in the Market Watch and match the spelling. If the broker has currency names similar to EURUSD_i (for example) - enter it the same way. Otherwise, the pair's diagram will not be drawn, and an error message will be displayed in the Experts tab.
- color_1 - color_10 - select the diagram column colors.
The indicator can be used for monitoring any pairs, but it has been designed specifically for manual trading on cross-rates. Manual trading was chosen because writing an efficient and accurate analysis of a cross-rate for an EA is unlikely (working on this).
Trading crosses has a significant advantage - by observing the exchange rate of both symbols of the cross-pair relative to USD, it is possible to assume where the cross price will go with a high enough probability. But it is not that simple - often the cross rate itself drags one of the symbols in one direction or another. In addition, not everyone knows where and how EUR should move, or JPY (for example) to make the EURJPY skyrocket or plummet. This is the indicator that answers such questions. With its help, trading crosses becomes much more efficient - you can see what to expect and if it is better to "be square" for some time instead of wasting money.