Two Symbols Smooth Correlation Line
Download demo:
43
Publicado:
15 maio 2020
Versão atual:
1.52
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The currency pair hedge meter sub window shows nothing. What should i do to make sure the indicator works and displays what it is supposed to do?
1- Make sure that correct symbols input according to your broker standards ( for example micro accounts in XM broker , symbols are like EURUSDmicro not EURUSD and so on for all symbols .....)
2- Make sure to load Data history for your input signals (M1,M5,M15,M30,H1....) you just open the chart window for each symbol and press on the time frames buttons sequentially
1- Make sure that correct symbols input according to your broker standards ( for example micro accounts in XM broker , symbols are like EURUSDmicro not EURUSD and so on for all symbols .....)
2- Make sure to load Data history for your input signals (M1,M5,M15,M30,H1....) you just open the chart window for each symbol and press on the time frames buttons sequentially
I open windows for all the eight majors and did correlation between them and it seems to work ie no need to open all 28 pairs right? Probably safe to open the two pairs eg EU USD USD CHF and its constituent pair EU CHF. I have not tried negative correlation but checking the default setting, I can assume the indicator will automatically calculate even for negative correlation pairs?
I open windows for all the eight majors and did correlation between them and it seems to work ie no need to open all 28 pairs right? Probably safe to open the two pairs eg EU USD USD CHF and its constituent pair EU CHF. I have not tried negative correlation but checking the default setting, I can assume the indicator will automatically calculate even for negative correlation pairs?
(1)- you may use only your favorite 2 majors like EURUSD and GBPUSD and enter them in the fields : "Your selected 1st symbol pair::" and "Your selected 2nd symbol pair::" aand disable option "Auto input symbols"
and the indicator line will draw the negative correlation line which will indicate which pair is weaker and which is stronger so you can buy the stronger and sell the weaker
(2)- the other 20 symbols input fields are optional : it will make the indicator system to detect the weakest and the strongest two pairs among the (up to 20 symbols) you input
and if option "Auto input symbols" is enabled , the indicator will automatically draw and alert the negative correlation between the weakest and strongest pairs from the up to 20 symbols you entered
But you may work on option (1) and use only two pairs you enter manually and the indicator will alert which one to buy (stronger) and the other to sell (weaker)
I opened all 28 pairs on my mt4 demo and tested the indicator - it seems to give suggestions on pop up window various two pairs to buy and sell simultaneously. Is that another feature of this indicator?
1- you can disable alerts by setting "Alerting_enable" option to "disable" and no suggestions will be poped up
2-you can use indicator graph with different strategies
* use the indicator curve support and resistance BLUE line as shown in picc1 :
Crossing indicator Support level Down means you Sell 1st settled pair and Buy 2nd
Crossing indicator Resistance level Up means you Buy 1st settled pair and Sell 2nd
* use the line indicator colors Red and Green Crossing Level 0 : Red means you Sell 1st settled pair and Buy 2nd - Green means you Buy 1st settled pair and Sell 2nd