Multiple Indicator for Major Currencies
Multiple Indicators for Major Currencies
The purpose of this indicator is to save time to detect more good trading opportunities by scanning all 28 cross currency pairs of AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD in the same time.
There are 5 indicators included in this indicator which are CCI, RSI, Stochastic, MACD and the different between plusDI and minusDI of ADX (PlusDI-MinusDI).
The indicator can help in determining the following properties of each currency depending on which indicator we selected and the setting of its parameters.
- An average direction,
- Stability and strength of trends,
- Support/resistance zones, or
- Reversal confirmation.
Simply pair a currency that has all indicators point upward with another that its indicators are pointing downward to get the name of a trending currency pair.
Linear indicators and data dashboard are available in the same time.
- Linear indicators. For each selected indicator(CCI, RSI, Stochastic, MACD or Plus DI-Minus DI), the indicator can show you 1 set of the following;
- Average value of the selected indicator for the 8 currencies, one line one currency. or
- Indicator for cross currency pairs of the selected currency, 7 pairs for each currency. In case of the selected currency is a quote currency in a pair, the indicator will show its reverse value in order to make it easy to determine an average direction of the currency i.e. if we select to view AUDxxx, the indicator will plot reverse value of EURAUD for AUDEUR.
Reading and interpretation;
Reading and interpretation of currency indicator is in the same way as the indicator for currency pair. A steep indicator for any currency depicts its stronger trends. A higher rated currency confirms its trends stability.
- Indicator type and display format, select one from the provided indicators in drop-down menu. The provided indicators are CCI, PlusDI_minus_MinusDI, RSI, Stochastic and MACD. The display format are;
- avgCCY: an average value of any currency, select this display format we will see an average direction of each currency.
- AUDxxx, CADxxx, CHFxxx, EURxxx, GBPxxx, JPYxxx, NZDxxx and USDxxx: an indicator value of currency pairs for AUD cross currency pairs and so on. Select this display format to see whether moving directions of cross currency pairs of the currency are all in the same or in different directions.
- Enable/disable data dashboard/Alert, select 'true' to enable or 'false' to disable.
- Define rating level, select level of rating criteria(4 or 5 stars) to display on the data dashboard.
- Enable/disable on-screen pop-up alert, select 'true' or 'false'.
- Enable/disable mobile phone notifications, select 'true' or 'false'.
- The indicator will not perform properly in the strategy tester.
- Color of line is the same as a name of currency/currency pairs on the data dashboard.
- The free version does not display the indicator of all currency but only displays AUD, CAD, CHF and NZD.