Author:
The Cluster Indicators CC and CCFp, originally developed by Simeon Semenych, are fantastic tools for analyzing currency strength. For a deeper dive into the concepts behind the code and how to interpret its signals, check out this article.
I've made some updates to enhance functionality. Here’s what you can expect from the latest version:
- Self-Refreshing Indicator: Unlike the original, this updated version refreshes itself for the current bar, ensuring you always have the latest data.
- Broker-Friendly: This indicator is compatible with brokers that add extra characters to their currency pairs, like "EURUSD_fx", which the original does not support.
- Customizable Display: With the new external variable, if ShowOnlyPairOnChart=True, the indicator will display the line for the current pair while still considering all pairs in its calculations.
Usage-wise, the Cluster Indicator is designed to help you detect the relative strength of each currency by calculating their moving averages (MAs). Simeon Semenych has optimized the MA settings, so it’s best to leave them as they are.
For optimal results, use this indicator on H4 timeframes or larger. If you're looking to analyze relative strength on smaller timeframes, the T101 system works better in conjunction with the Cluster Indicator. You can find it by searching for the Traders101 system on ForexFactory.
Keep in mind that the first time you load the indicators, it may take about a minute to calculate the MAs for all pairs. So, grab a coffee and be patient!
Comments 0