RFX Forex Strength Meter
RFX Forex Strength Meter - It is a powerful tool for trading on the 8 major currencies in the Forex market:
- U.S. dollar (USD)
- euro (EUR)
- Pounds (GBP)
- Swiss frank (CHF)
- Japanese Yen (JPY)
- Australian dollar (AUD)
- The Canadian dollar (CAD)
- New Zealand Dollar (NZD)
The indicator calculates the power of each currency, using a unique and precise formula from the calculation at the beginning of each trading day from your broker. Any trading strategy in the Forex market can be significantly improved by watching the power of major currencies.
- Maximum Look Back Days - a positive integer that represents the maximum number of days in the past, which will be calculated strength values of currencies.
- Only Show Chart's Currencies - if the parameter is set to set to Yes, the indicator will show the strength of currencies schedule to which it is attached. For example, you run the indicator chart EURUSD. In this case, it will show the effect of currencies EUR and USD. If the parameter is set to set to No, the indicator will show the strength of all the selected currency.
- Show Panel? - if the parameter is set to set to Yes, and the previous parameter - No, in the upper right corner of the chart panel will be added showing the previous and the current value of the force.
- Send Alert at Power Change? - If set to Yes and the panel is turned on, the indicator will report the change of position of the most powerful / weak currency in the current column, ie, the possibility to make a deal on the appropriate pair.
- Show USD - if = Yes, the indicator will show the effect of currency USD.
- Show EUR - if = Yes, the indicator will show the power of the currency EUR.
- Show GBP - if = Yes, the indicator will show the effect of currency GBP.
- Show CHF - if = Yes, the indicator will show the effect of currency CHF.
- Show JPY - if = Yes, the indicator will show the strength JPY currency.
- Show AUD - if = Yes, the indicator will show the effect of currency AUD.
- Show CAD - if = Yes, the indicator will show the power of CAD currency.
- Show NZD - if = Yes, the indicator will show the effect of currency NZD.
- USD Color - line color, signifying force currency USD.
- EUR Color - line color, signifying force currency EUR.
- GBP Color - line color, signifying force currency GBP.
- CHF Color - color line, meaning the power of currency CHF.
- JPY Color - line color, signifying strength JPY currency.
- AUD Color - color line, meaning the power of currency AUD.
- CAD Color - line color, signifying strength CAD currency.
- NZD Color - color line, meaning the power of currency NZD.
- The indicator works with brokers providers trading on 28 major pairs: EURUSD, GBPUSD, USDCHF, USDJPY, EURGBP, EURCHF, EURJPY, GBPCHF, GBPJPY, CHFJPY, USDCAD, EURCAD, GBPCAD, CADCHF, CADJPY, AUDCAD, AUDUSD, EURAUD, GBPAUD, AUDCHF, AUDJPY, EURNZD, NZDUSD, GBPNZD, NZDCHF, NZDJPY, AUDNZD, NZDCAD
- Indicator automatically detects base pairs in the case, if the broker supplies characters with suffixes.
- To display an indicator on historical values of the bars, it is necessary download history 28 base pairs.
To use this indicator you need to download historical data for all 28 major currency pairs Forex. You need to perform two different boot process,
- For the strategy tester:
- Press the key on the keyboard, it will display the file quotes window.
- Find the EURUSD and click on it (it will be selected).
- Click on the button in the window.
- When the download is completed, return to step (1.2) and repeat steps to 1.4, until a loaded history of all 28 pairs.
- For real / demo trading:
- Open graph EURUSD (timeframe is irrelevant).
- Replace the schedule script LoadAllHistory.ex4.
- Wait for the completion of the script.
- When the download is completed, return to step (2.2) and repeat steps to 2.4, until a loaded history of all 28 pairs.
Note: Contact me for sending LoadAllHistory.ex4 script
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