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The indicator shows relative movement of six currencies.
Lack: it is not optimized (function " IndicatorCounted () " is not used). To me it is not clear .
I have operating time on use of the indicator. If to whom interestingly I shall help. Only with English at me greater problems .
Green - USD Blue - EUR Red - GBP Black - Black
RosyBrown - JPY
Orange - AUD
BlueViolet - CAD
Parameters. candles - number of bars shift - shift of the indicator concerning last bar smooth_level - size of smoothing
The description of indicators.
Indicators are based on ideas of revealing disbalance in five currencies.
They work exclusively with currencies USD, EUR, GBP, CHF, JPY and only with currency pairs EURUSD, EURGBP, EURCHF, EURJPY, GBPUSD, GBPCHF, GBPJPY, USDCHF, USDJPY, CHFJPY.
At once I answer often asked question. Inclusion in this indicator of other currency not such and a challenge, but in practice is bad выполнима. For example, if it would be desirable to see in indicator CAD it is necessary that broker gave quotations on following currencies: USDCAD, EURCAD, GBPCAD, CADCHF, CADJPY. Absence even one currency pair will lead disbalance all work of indicators – to be displaced very important zero level – a level of balance of currencies.
Therefore while inclusion of currency CAD in the indicator, however, as well as all other currencies is not possible yet.
One more answer to often asked question. All currencies are considered equivalent. Any weight factors it is not used. Practice shows, that this excessive complication that is necessary indicators and so will show.
The idea of indicators is simple enough – to allocate from currency pairs separately each currency. It will not be natural to be an index of currency which pays off on fundamental data. And though correlation with indexes very much greater, for the indicator it has no value, however, as it does not matter for its application.
Indicators it is the closed system, that already leads to simplification of a market model, but for successful trade on them such simplification not strongly stirs. Currencies are measured in relative units. The sum of all currencies the indicator at any moment it is equal to zero.
From here the most important element of the indicator presence of a zero line (line of balance) follows is.
If any currency is above this line it is bought up concerning other currencies if it is below a line of balance then it is resold.
Definition overbought and oversold currencies also is the true purpose of indicators.
And further there is absolutely logical behaviour. If this or that currency is bought up, it sooner or later will start to dump the pressure against all currencies, will reach a line of balance and can enter into a zone oversold.
If the currency is about a line of balance it speaks that the currency is in a condition of balance concerning other currencies.
The first indicator the general, or information (see a post the first). It looks equally on any currency pair. It does not give signals. It can prompt only what currency pair is better to trade at present time. For example, if the dollar has been bought up, and the pound is resold also they, having overcome the extrema, start to converge, going to a line of balance trade on pair GBPUSD can give the greatest profit for the least time. If, for example, two currencies having overcome overbught (both go from top to down), direct to a zero line, and one overtakes another (such it is possible to see on currencies EUR and CHF), movements more often though will be, but not significant, and sometimes and simply flat.
And though the information indicator does not give trading signals, but allows to allocate perspective pairs.
The second indicator is based on the first, only it allocates necessary currencies and adapts them under concrete currency pair.
Now (or pair) the indicator is able to define the second, with what currency it works, and on what timeframе.
Here I wish to inform very important thing, be close, and try to hold constantly it in a head when look on cluster the indicator.
All of us have got used to that indicators are under construction on the basis of the price of concrete currency pair.But this indicator is under construction on the basis of all currency pairs a complex. Looking at it it is necessary to realize that you see the prices of 10 currencies simultaneously, and not just derivative of the price of current currency pair.
If the indicator is displayed under pair EURUSD it except for this currency pair still considers pairs EURGBP, USDGBP, USDCHF, EURJPY, etc.
When signals on the pair indicator come, and you start to trade, it is necessary to remember, that you trade not concrete currency pair, and the market entirely (is more exact market cluster).
Such circumstance is also plus and during too time and a minus. Signals on these indicators more confident as to be stood on the basis of 10 currency pairs, but during too time always there is a risk of that the indicator and concrete currency pair can go to the different parties. In fact influence of this currency on all cluster makes only 10 % (1 pair from 10).
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We do not see things as they are.
We see them as we are.
i have tried the indicator with the NZD/USD pair but it did show an empty field then i have tried to add the NZD/USD pair to the indicator code, but my programming skill is very very poor and it did not work.
could someone please have a look in the code if you have time and add this pair? i think its a simple task but for some reason my changes did show nothing in the window.
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Correlation strategy
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and it did not work.
