Currency Strength Exotics
This Indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a new formula. With only ONE chart you can read currency strength with exotic pairs or commodity, indexes, futures. Anything can be added as 9th line to show TRUE STRENGTH of Gold, silver, oil, DAX, US30, MXN, TRY, CNH etc. A never seen before trading strategy ! Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity?
It works for all time frames. Quickly is to see the TREND! Built on new underlying algorithms it makes it even easier to identify and confirm potential trades. This is because it graphically shows the strength or weakness of a currency plus one product!
This indicator shows the true value of the product (Example: for gold). XAUUSD: that is the price of gold in US dollar. If XAUUSD is moving up how do you can know if it is gold moving or if it is the US$ ? Only if gold is moving do we want to trade it. The indicator extracts the true value of gold and eliminates the quoted currency (here USD). It handles gold equally as a 9th currency.
The indicator shows the strength in a line of the 8 main currencies (AUD CAD CHF EUR GBP JPY NZD USD) PLUS ONE more! Further more it shows market activity and Currency Strength Fibonacci reversal levels (Market Fibs).
Get your trading setup when currency strength builds a double-GAP! This strategy can be used by both swing traders and scalpers. To swing traders it shows when a new trend has been triggered and to scalpers it shows which pairs are going to have movement. From our clients and our own experience we know the indicator work so well that it is truly a case of 1+1= 3!
==== EXOTIC settings
- fix EXOTIC pair name (empty for XAUUSD and auto detect) (enter exotic pair name be fixed)
- get EXOTIC pair name from chart (do auto detect exotic pair name from chart)
- EXOTIC reverse line manually (Gold is reversed) (most products need be line reversed because priced in USD)
- automatic reverse line (automates the function above, If USD is found as base currency like USDMXN, USDSEK, the line will not be reversed.
- suffix for currency pairs (if EURUSD is called like EURUSDm then enter m)
==== Chart settings
- Line width base and quote CS (make thicker the currency of the chart)
- show USD line always thick (used with indexes...)
- Line width other 6 CS (the other currencies which are not part of the chart)
- EXOTIC Line width same other 6 CS (false: exotic line always thicker)
- HIDE the other 6 CS lines (show only base and quote currency line)
- HIDE EXOTIC with other 6 CS lines (true: no exotic line if a currency selected)
- Line width Market (size of Market Momentum dot) (Market Activity)
- show Bars back (how many candles back the indicator prints the currency lines)
- reset Market Fibonacci after candles (recalculates market Fibonacci Lines after x candles)
- quick chart open in new window (false: change pair in same chart)
- Font size button(The size of currency names or buttons)
- Show CS labels end of line
- CS label size
==== Color settings
- AUD Color (currency line colors, change to your needs)
- CAD Color
- CHF Color
- EUR Color (Euro is white, please change if you use white chart background)
- GBP Color
- JPY Color
- NZD Color
- USD Color
- Market Color (Market dot color)
- EXOTIC Color
- Market Fibs Color 0
- Market Fibs 23 Color (Market Fibonacci breakout Zone 23 line color)
- Market Fibs 50 Color
- Market Fibs 100 Color
- Market Fibs 161 Color (Market Fibonacci Reversal Zone 161 line color)
- Market Fibs 261 Color (Market Fibonacci Reversal Zone 261)
- background Color button
- Font spacing X (big screen) (This is for those who have big 4K monitor. It might be needed to add to horizontal spacing of the buttons.
- Font spacing Y (same as above but vertical)
- GET FIRST MT4 CHART HISTORY ! (See comments)
- Use my template. (See comments)
- If USD strength line and the product strength line go in opposite direction it is strong signal. (Double-GAP)
- Stay within the trend (GAP) of the higher time frame
- Watch for reversal if the line is at Market Fibonacci 161 or 261
- Check history at what levels the product likes to reverse
- Keep your chart feeds up to date
- Check my news and blogs on profile for trading system and trade examples
I wish you many green pips in the future.
+ The other currencies which are not part of the actual chart can be shown as dashed.
+ USD which is mostly the quote currency of indexes and commodities can be shown always bold.
The default parameter for "show USD line always thick" is changed to 'true'.
The dynamic Market Fibonacci Level lines will reset after 2 candles by default and reflect so the actual Market activity.
Two visual setting has been added (it was requested):
+ HIDE Market Fibs 23 lines
+ HIDE Market Fibs 50 lines
(I would not hide but customer is king.)
=== New function included
+ The line volatility of Exotic pair or product is now visually better adapted.
=== EXOTIC settings
+ The input "Reverse line manually" is now set to false as default.
+ New is the input "auto detect reverse line". It is set to true as default.
This new input automates the function before called "reverse line manually". With input "auto detect reverse line"=true the line of gold, DAX, Oil, US30... will be automatically reversed because USD is considered as quote currency. If USD is found in the pair as base currency like USDMXN, USDSEK, the line will not be reversed. To turn auto detect off set it to false.
(To reverse the line manually for another view of USDMXN or USDSEK set "reverse line manually"=true and "auto detect reverse line"=false.)
Now it is easier to switch between pairs without to open the settings.