This multi-currency indicator is designed to help you choose one or more trading pairs for arbitrage, track correlations between currencies for trading using leading index data, assess cash flows between different parts of the world, as well as investors' risk appetite.
To work with it, you need to have 8 currency pairs available in the terminal: EURUSD, GBPUSD, NZDUSD, AUDUSD, USDCHF, USDJPY, USDCAD, USDHKD. The other 20 cross pairs are calculated based on these main currencies.
There are 4 parameters in the indicator settings:
- Window - number of bars for displaying
- View mode - information view mode
There are 3 view modes:
- Log Scale - shows the main currencies in logarithmic scale (Fig. 1)
- Crosses - shows cross currencies with the same base currency (Fig. 2)
- Indexes - shows synthetic currency indexes (Fig. 3)
- Base currency - base currency, it is used only in the Crosses mode.
- Smoothing - smoothing using moving averages.