Index Hub is designed for creating multi-currency indicators using up to 14 currency pairs and any of 6 indicators: Stochastic, WPR, RVI, RSI, Force and CCI.
An example with three pairs and the CCI indicator:
CCI(USDCAD)+CCI(USDJPY)+CCI(USDCHF) / 3 = CCI(Index Hub).
Index Hub is suitable for the following types of trading: basket trading, scalping and arbitrage strategies.
For example, if you need to use Stochastic for scalping purposes, set two indicators on EURUSD with currencies USD*** and EUR*** (as shown in the screenshot). When the Stochastic-USDX index reaches the level of 80 (a conditional overbought level) and the Stochastic-EURX index reaches the level of 20 (a conditional oversold level), we may buy EURUSD and catch points.
In basket trading, we buy all currency pairs included in the index array. This strategy allows diversifying risks but requires certain skills.
- Select the indicator - select an indicator to work with;
- Period for (Force, RSI, RVI, WPR, CCI) - period for five indicators except for Stochastic;
- Period for Stochastic %K - the K period of the Stochastic indicator;
- Period for Stochastic %D - the D period of the Stochastic indicator;
- Period for Stochastic Slowing - the slowing period of the Stochastic indicator;
- Time-Frame - you can use any timeframe (1,5,15,30,60,...) on any chart period;
- Number pair - the number of currency pairs in the index array;
- Name pair #... - the full name of the currency pair with suffixes as it is written in the quotes symbol;
- Limit bar - the maximum number of bars in window;