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KT Currency Strength and Correlation MT5

If you trade Forex, having detailed information about the currency strength and currency pairs correlation can take your trading to new heights. The correlation will help to cut your risk in half, and strength analysis will help to maximize the profits.

This indicator provides a hybrid approach for selecting the most appropriate currency pairs using the strength analysis and currency pairs correlation.


How to use the Currency Strength Analysis

Suppose your trading strategy provides a buying opportunity on AUD/JPY and using the KT Currency strength analysis you find that the JPY is going stronger than AUD. It is likely that the trade will end in a loss. When you have this indicator, you'll able to avoid such losses easily.


How to use the Currency Pair Correlation

Suppose your trading strategy provides a selling opportunity on NZD/USD and GBP/JPY at the same time. Using the KT Currency pair correlation, you find that the correlation percentage between these two pairs is at 77%. 

As these pairs are strongly correlated, trading them together will only double your risk. If you get a loss on NZD/USD, it is very likely that the trade on GBP/JPY will also end as a loss.


Features

  • Quickly find the strongest and weakest currency to verify the trade opportunity generated by your trading strategy.
  • Cut your risk by half or even one-third by avoid trading the strongly correlated currency pairs.
  • Receive alerts when a currency become the strongest or weakest among the currency basket.
  • Analyze the strength report using a currency pyramid which arranges them in order of strongest to weakest currency.


Currency Strength Analysis in Detail

Currency Strength analysis helps to find out the strength and weakness of currencies using a mathematical computation. Currency strength is calculated using the US Dollar Index, which works as a reference for other currency indexes.

It is based on a methodology that to successfully trading the Forex market, we should buy the strongest currency and sell the weakest currency

With a tool like this, you can monitor and see the whole currency flow across the Forex Market on a single chart.


- Choosing the Best Currency Pair

Suppose your trading strategy provides a buying opportunity GBP/JPY and EUR/JPY. As both of the pairs are strongly positively correlated, trading them both would only double the risk.

Using the currency strength pyramid, you can find out which is the strongest currency out of GBP and EUR. If GBP is stronger than EUR, you should choose the GBP/JPY, or if EUR is stronger than GBP, you should pick the EUR/JPY.


- Avoiding the Flat Market

Suppose your trading strategy provides a buying opportunity on AUD/JPY. You find the Australian Dollar and Japanese Yen arranged adjacently in the currency strength pyramid.

It reflects a situation in which both of the currencies are either strongest or weakest at the same time. Having both the tendencies together will end up as a sideways market.


Currency Pairs Correlation in Detail

Generally speaking, correlation is a statistical method to measure the relationship between two trading assets. Currency Correlation shows an extent to which two currency pairs move in the same, opposite, or random within a particular period.

  • A correlation of +1 is known as the perfect positive correlation. It means that the two currency pairs will move in the same direction 100% of the time, such as EUR/USD and GBP/USD.
  • A correlation of -1 is known as the perfect negative correlation. It means that the two currency pairs will move in the opposite direction 100% of the time, such as EUR/USD and USD/CHF.
  • A correlation of 0 means the relationship between two currency pairs is random. Their price movement is not related to each other.

- Positive Correlation Strength

  • Weak Positive Correlation (10% to 40%) = Tradable 
  • Medium Positive Correlation (40% to 60%) = Trade with caution
  • Strong Positive Correlation (60% to 100%) = Never Trade

- Negative Correlation Strength

  • Weak Negative Correlation (-10% to -40%) = Tradable
  • Medium Negative Correlation (-40% to -60%) = Trade with caution
  • Strong Negative Correlation (-60% to -100%) = Never Trade

"Please note this tool does not offer a trading strategy itself. It works as a separate tool which helps to validate a trade."
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Quantum Currency Strength Indicator for MT5
QUANTUM TRADING SOFTWARE LIMITED
If there is only one MT5 indicator you ever buy for trading forex – this has to be it. Your success as a forex trader depends on being able to identify when a currency or currency pair is oversold or overbought. If it is strong or weak. It is this concept which lies at the heart of forex trading. Without the Quantum Currency Strength indicator, it is almost impossible. There are simply too many currencies and too many pairs to do this quickly and easily yourself. You need help! The Quantum C
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PZ Divergence Trading MT5
Arturo Lopez Perez
Tricky to find and scarce in frequency, divergences are one of the most reliable trading scenarios. This indicator finds and scans for regular and hidden divergences automatically using your favourite oscillator. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ] Easy to trade Finds regular and hidden divergences Supports many well known oscillators Implements trading signals based on breakouts Displays suitable stop-loss and take-profit levels Configurable oscilla
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Fractal Pattern Scanner MT5
Young Ho Seo
Breakout Trading and Reveral Trading Fractal Pattern Scanner will do the complicated calculation at background. However, it provides simple trading operation. The Mother Wave pattern will provide you breakout trading opportunity. When the price crosses the breakout line, there is a good chance to catch profit from this breakout. The good thing is that it also provides the potential reversal price level as soon as the breakout pattern is detected. In summary, you use breakout for the first profi
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Trend Expert
Alexander Sovpel
TrendExpert indicator - predicts a rise or fall in prices and generates accurate BUY and SELL trade signals The results of tests have shown a share of profitable trades of 75% and higher , depending on the trading instrument. This indicator was developed by a team of professional traders. The algorithm is based on the Dow Jones theory , which analyzes prices in financial markets and has proven its profitability. The TrendExpert indicator is designed to accurately predict future price chang
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Version 1.2 2020.02.19
- Added an ability to insert the broker's suffix.
- Bugs squashing.