Scalp Tools iWorld Currency Ranking
With this tool, you have a detailed view of the power of different currencies on different timeframes at the same time. This tool calculates rankings for your selected currencies at up to 8 different timeframes. The rankings update themselves in real time!
You can't analyze this while you are comparing charts with your eyes. If you have a rising EURUSD: Is EUR really strong or is USD very weak? Is USD weak, because other currencies are stronger? You must compare every currency with all other currencies. That's the only way and that is what you get here.
This tool can also send you a message, if special market conditions
occur. For example if you set comparison notifications for MN1, W1, D1
and H4 on, you will get a notification if the top and bottom rankings
are nearly the same in each timeframe. This can point to a strong long term trend in the
You can also try short time turnaround events if you turn only the M1, M5, M15 and H1 notifications on. Now this tool will send you a notification, if the rankings on these timeframes are nearly the same.
With the IWorldNotificationTolerance parameter you can set the looseness of the ranking comparison.
Before you start, you have to check if your broker supports all the necessary symbols. If you want to compare EUR, USD, GBP and AUD, your broker must provide all symbols that are necessary to compare all currencies with each other (EURUSD, EURGBP, GBPUSD, AUDUSD, AUDGBP, EURAUD).
For example: If you add XAU to the list, and your broker does not support a symbol, which contains GBP and XAU at the same time (XAUGBP), it is not possible to get proper results. This tool informs you about this issue, and symbols that could not be calculated correctly will be displayed in red. To get the best results, go to the Market Watch window, Symbols tab, right-click, select Symbols and add all the currency symbols.
Please let me know, if there are problems with your account.
If you start this tool the first time and you are not sure, if the displayed rankings are ok, please press the button "Try load history" one time.
this is not successful (some regions are still displayed in red), you
have to load the historical data manually by opening each necessary
chart symbol in every timeframe, switch off "auto scroll" and press
page-up-button. I will try to find an easier method in future.
You can move the indicator window by dragging the light blue border at the top of the indicator!
Please test the demo version first! If you have detected an issue, please let me know! I have a complete PDF manual for all my tools. Please ask me for the link! You can also look at my YouTube channel.
- IWorldRegions — Put in all the currency symbols you want to compare separated by a semicolon.
- IWorldNotificationEnable — Turns the notification section on
- IWorldNotificationPlaySound — Plays a sound if a notification event occurs
- IWorldSendNotification — Sends a notification to your mobile device
- IWorldNotificationText — Add you additional text for notifications here
- IWorldCalcMode — TimeFrameSeries: Each timeframe starts after the previous one, AllFromCurrentTime: Each timeframe starts from the current time.
- IWorldUserTimeframe1-8 — Select the period for each timeframe (M1-MN1 or set it to OFF).
- IWorldNotificationUse1-8 — Select, if this timeframe is used to calc notification events (AND operation).
- IWorldNotificationReverse1-8 — For example, if you are looking for a turnaround, you can switch one ore more reversions on.
- IWorldNotificationTolerance — The looseness of the comparison of timeframes. (0 - 20):
The maximum deviation from the best possible ranking. In all selected
timeframes one region must be the best and another region the worst.
If you set it to "2" for example: In all selected timeframes the deviation sum is maximum 2.
- IWorldMaxToleranceOneFrame — The maximum deviation in one timeframe (0-6).
For example, if you have selected 4 timeframes for notification calculation and IWorldNotificationTolerance set to 8 and IWorldMaxToleranceOneFrame to 2, every selected timeframe can have a deviation of 2
- IWorldFileMaster — Only one iWorld-Tool can be the file
master! If no iWorld is file master, it takes up to five minutes for a
new created iWorld on a different chart until the lower timeframes show
exact the same values. Reason: The iWorld tool internally creates lower
timeframes than M1. This takes some time. An iWorld-indicator who is master is displayed with "(M)" in his title.
- GRAY: iWorld is not active
- GREEN: iWorld is active and visible
- Light red: iWorld is active in the background and not visible
Please have a look at my other tools in the Market. They all fit together.
If you've questions, plese send me a message.
- Fixed problem with internal message system.
- Fixed problem with highlight last notification on/off
- Добавлен расчет для периода M30
- You can select, if all timeframes start at current time or if they are in series
- A sound file for notifications is now selectable.
Please contact me, if you have problems with this tool!
- Fixed problem when launching MT4 with activated iWorld indicator
- Added button for loading history data
- Actual chart symbol is colored in ranking lists