Author:
Meet the author, a dedicated researcher diving deep into the stock and FX markets. This indicator has been rigorously tested against historical data, but remember, past performance is no guarantee of future results.
Description:
This handy indicator keeps an eye on major currency pairs to evaluate the current candle's status (Bullish or Bearish) for USD, EUR, and GBP compared to other currencies like JPY, CHF, AUD, and CAD.
For instance, if all the boxes in the USD row light up red, it signals that the current USD candle is weak or bearish against all other major currencies. You can apply the same logic to analyze GBP and EUR candles, but remember to read the columns in reverse.
As an example, if all boxes in the CHF row show green, it indicates that CHF is bearish against EUR, GBP, and USD. This indicator works best when paired with other tools like moving averages, Bollinger Bands, and support and resistance levels.
Image:
Recommendations:
- To spot a strong bullish signal for EUR/USD, wait until all boxes in the EUR row are green and all in the USD row are red.
This indicator features two main parameters:
HistoryShift: Setting this to 0 means you're looking at the current candle. If you want to analyze past performance, adjust this number. For example, entering 10 will take you back 10 candles.
DrawVline: This option will draw a vertical line corresponding to the HistoryShift parameter.
I'm eager to hear your feedback, suggestions for improvements, and ideas for collaboration to enhance this indicator further!
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