Welcome, fellow traders! Today, we’re diving into a powerful tool for your trading arsenal—the Power of NZD with Average Indicator for MetaTrader 4.
What’s New in Version 229.201?
This latest version of the indicator is designed to measure the relative strength of the NZD currency against others in real-time. The zero line (0.0) represents the average value over a specified period, which you can adjust using the AveragePeriod variable.
The indicator evaluates the closing prices of seven currency pairs that include the NZD, giving you a comprehensive view of its market performance.
To make things even easier, we’ve added a colored histogram that helps you quickly interpret the current market situation.
Choose Your Mode
You now have two modes at your disposal:
- TREND
- COUNTER-TREND
When the BASE and QUOTE currencies display the same color in equal mode, it indicates a higher probability for trading in the right direction.
Examples in Action
Example 1: BUY Signal
Let’s say you’re looking at the EUR/USD pair. If you select the TREND mode for both Power of EUR with Average and Power of USD with Average and see both indicators in GREEN, it’s time to get ready to BUY the EUR/USD pair!
Example 2: SELL Signal
Conversely, if you’re still focused on the EUR/USD pair and both indicators turn RED in TREND mode, it’s a signal to prepare for a SELL on EUR/USD.
With the Power of NZD with Average Indicator, you can make informed trading decisions that align with market trends. Happy trading!
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