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PipTick CSI PRO MT5

This is a professional version of our PipTick Currency Strength Indicator. Knowledge of the strength and weakness of each currency is vital for every forex trader. Our currency strength indicator measures strength of eight major currencies (USD, EUR, GBP, CHF, JPY, CAD, AUD, NZD) by using several popular indicators. PipTick CSI PRO shows you in a simple and quick way whether the currency is strong or weak. Furthermore, you can also see when the currency is oversold, overbought or in "normal area".

The indicator can measure the strength and weakness of currencies by four method.

  • RSI - Relative Strength Index
  • CCI - Commodity Channel Index
  • MFI - Money Flow Index
  • MACD - Moving Average Convergence Divergence

The indicator is calculated from 28 currency pairs and works on every MT platform. PipTick CSI PRO uses only 7 currency pairs for calculation of the rest of 21 pairs. For correct working of the indicator you need only these seven pairs in your MT platform: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, USDCHF and USDCAD.

Interpretation of the indicator

Because our PipTick CSI PRO is based on the well-known indicators, its interpretation is very simple.

RSI

  • Oversold area - the value of CSI is under the level of 30
  • Normal zone area - the value of CSI is between the levels of 30 and 70
  • Overbought area - the value of CSI is above the level of 70
  • Strong currency - the value of CSI is above the level of 50
  • Weak currency - the value of CSI is under the level of 50

CCI

  • Oversold area - the value of CSI is under the 100
  • Normal zone area - the value of CSI is between -100 and 100
  • Overbought area - the value of CSI is above the 100
  • Strong currency - the value of CSI is above the level of 0
  • Weak currency - the value of CSI is under the level of 0

MFI

  • Oversold area - the value of CSI is under the level of 30
  • Normal zone area - the value of CSI is between the levels of 30 and 70
  • Overbought area - the value of CSI is above the level of 70
  • Strong currency - the value of CSI is above the level of 50
  • Weak currency - the value of CSI is under the level of 50

MACD

  • Strong currency - the value of CSI is above the level of 0
  • Weak currency - the value of CSI is under the level of 0

How to you use the PipTick CSI PRO?

There are two basic approaches how to trade currency strength and weakness:

  • Buy strong currency and sell weak currency - Trend Following strategy. For example, if you see the EUR is strengthening and AUD is weakening, buy EURAUD currency pair. Do not trade if one of currencies is overbought/oversold.
  • Sell strong currency and buy weak currency - Counter Trend strategy. For example, if USD is overbought and JPY is oversold, sell USDJPY.

You can achieve great results if you use overbought/oversold concept of currency in conjunction with Price Action or Candlestick patterns. All you have to do is wait for overbought/oversold of one currency, followed by drawing candlestick pattern like hammer or shooting star. Of course, this is just one of thousands of possible ways of using of our currency strength indicator.

You can use this indicator for long-term, swing, intraday or even scalp trading.

It is possible to use PipTick CSI PRO for manual backtest as well. All you have to do is set parameter "Bars_Ago = 0" in indicator settings and download historical data for seven currency pairs which our indicator needs to calculate.

Main features

  • The indicator shows strength and weakness of eight major currencies (USD, EUR, GBP, CHF, JPY, CAD, AUD, NZD)
  • Simple comparison of one currency against another
  • Four methods of calculation
  • Overbought and oversold area for entering or exiting the trades
  • Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN)
  • The indicator is non-repainting
  • Ready for backtesting (customizable look-back period)
  • Customizable parameters (Colors, Line thickness, Periods...)
  • Excellent results in conjunction with PA and Candlestick patterns
  • Ideal tool for scalping
  • Very fast calculation
  • Indicator works with prefix and suffix of symbols as well

Outputs

  • USD...NZD - Value of USD...NZD CSI

PipTick CSI PRO is available for MT4 as well.

For more information, visit the PipTick CSI PRO product page.

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版本 3.1 - 2017.01.25
Added Constant Mode (allows set USD as a constant)
版本 2.0 - 2015.07.15
- More accurate data loading
- Added weighted mode
- Added smoothed mode
- Faster calculation
- Changed the way of displaying labels
- Improved reliability