- June 7, 2013
- Posted by: Forex Wiki Team
- Category: FX Ind
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| Author: | H. Odhabi (2012.01.13 12:31) | ||
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Author:The author is researcher who is studying the stock and FX market for research purpose. The indicator has been tested extensively on historical data, but there is no guarantee past performance will be indicative of future results. Description:This indicator watches the major currency pairs to find the status of the current candle (Bullish or Bearish) of USD, EUR, and GBP compared to other currencies such as EUR, JPY, GBP, CHF, AUD, and CAD. For example, if all boxes in the USD row are red that means the current candle of the USD is weak or bearish against all other major currencies at the moment. The same method can be used to analyses the candles of GBP and EUR. The column are read in opposite. For example, if all boxes in the CHF are green this means CHF is bearish against EUR, GBP and USD. The best use of this indicator when combined with other indicator such as moving average, Bollinger Bands, Support and Resistant levels. Image:
Recommendations:
The indicator has two main parameters that are: HistoryShift: If 0, it means the current candle. To trade you should have it on 0. If you want to test the previous performance of the indicator you should change this number. For example, if you enter 10 the indicator will go back 10 candles. DrawVline: This will draw a vertical line that matches the HistoryShift parameter
I will be very interested in your feedback, suggestion for improvement and collaboration to improve the indicator. |
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Hello All,
I have created an Android and Apple Apps that use this indicator. The App read data directly from the market and displays it on your phone. It also, has a discussion forum and market news. Please try it and let me know your feedback. http://www.mql4.com/go?https://market.android.com/details?id=com.arbahforex.forex_multi_currency_pair_system 
The App display signal three timeframes H1, H4 and Day. I would appreciate your feedback and suggestions.
20.01.2012 10:42 hodhabi
Yes, you can backtest. However, you need to keep in mind that the indicator is based on candle close status. To backtest, you need to enable DrawVLine = true and specify the HistoryShift. HistoryShift is the number of candles that you want the indicator to go back. To start trading you need to remember to put the HistoryShift to 0.
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