The indicator is designed to determine the synchronous movements of entire groups of instruments.
This allows entering the market when the market is controlled by large-scale/global factors.
Examples of market interactions:
- movement of USD relative to the major currency pairs,
- movement of GBP and EUR,
- movement of the stock market: index + stocks,
- sector-wise analysis of the stock market,
- related commodities (the agricultural sector, or oil and related products, or metals).
- any arbitrarily combined group of instruments from different types of markets (where market dependencies are expected).
The indicator generates a signal after the candle is closed:
When a new candle appears on the current chart, the indicator checks for candles with the same time on the instruments selected in the settings.
If all candles are available, it checks the signal for "synchronous movement" of the selected instruments.
If any of the candles is missing, the indicator goes into standby mode, waiting for all candles to appear to be able to verify the signal.
If any of the candles does not appear, then the signal will not be formed.
The indicator can be launched on any chart; the indicator data are calculated for the instruments selected in the settings.
IMPORTANT: any instrument names entered in the settings must be written exactly as they appear in your terminal.
The indicator can be used on any timeframe, on any instrument.
- Type_Arrows - type of arrows.
- MA_Period - moving average period.
- MA_Type - moving average type.
- MA_Price - price type used in calculation of the moving average.
- Cand_Color - confirm signals with the direction (color) of the candle.
- Type_Market - type of the market the indicator is working with (Forex or Other_Market).
Then the settings are divided into 2 types:
Forex type: if the Forex value is selected, then the green icon below the chart candle means that USD is growing.
The Forex mode allows including 7 major currency pairs and any other 10 currency pairs with the USD abbreviation in the instrument name in calculations. (for example, it is possible to use the general movement of USD relative to all major currency pairs, or movement of GBP and EUR).
Here are some of the settings that are used if the Forex type is used:
- AUDUSD - enable/disable AUDUSD.
- NZDUSD - enable/disable NZDUSD.
- GBPUSD - enable/disable GBPUSD.
- EURUSD - enable/disable EURUSD.
- USDCHF - enable/disable USDCHF.
- USDJPY - enable/disable USDJPY.
- USDCAD - enable/disable USDCAD.
- USD_CUSTOM_1 - enable an additional currency pair.
- USD_CUSTOM_NAME_1 - name of the additional currency pair. IMPORTANT: only currency pairs containing the USD abbreviation can be entered in USD_CUSTOM_NAME.
Other Market type: if the Other_Market value is selected, then the green icon below the chart candle means that the selected instruments are moving up synchronously.
The Other_Market mode allows using 20 arbitrary instruments. (for example, 1 index and 19 stocks or related commodities).
Here are some of the settings that are used if the Other Market type is used:
- OTHER_CUSTOM_1 - enable the instrument.
- OTHER_CUSTOM_NAME_1 - name of the instrument (any instrument name can be entered).
Note: since the MetaTrader 4 tester does not support multicurrency operation, and allows working only with one instrument the test is running on, the Demo version https://www.mql5.com/en/market/product/25925 has been created for your convenience. It allows evaluating the indicator features on history data.