Pair Divergence Oscillator
If you are a correlation hedge trader, then this tool is invaluable. The indicator draws the divergence/convergence of correlated pairs in a subwindow in possible pips relative to the main symbol chart. The indicator uses a proprietary scaling and positioning algorithm based on fixed start and end dates for calibration of divergence spacing and also provides equilibrium lot sizes for both pairs. The indicator visually presents opportunities for currency hedge traders if you know how to use it. The product is based purely on price with no filters for the fastest price action with no lag and optimal performance.
See my other indicator Pair Divergence Overlay to supplement the oscillator visually on the chart. When combined, they provide a complete system for detection of high probability hedge trades. In the screenshots, the indicator is depicted in the subwindow. I have also shown the overlay indicator (not included in this product) to show that the oscillator gives accurate divergence/convergence signals.
- Automatic default calibration of previous day
- Prints the net balance P/L of open orders for the hedged pairs
- Prints calibrated pip ranges
- Prints lot ratio
- Added automatic mirror detection option