Correlation index and liquidity
An indicator with which you can easily compare any ticker with the ones offered.
You can choose any of the tags that are offered in the options
You can also create your own ticker if you select the Custom in Mode option.
If the comparison mode is enabled, the current ticker you are viewing is divided by the ticker selected in the indicator.
For example, if you have the EURUSD ticker open. And the EURUSD indicator is selected in the option in the indicator. Then you will get the EURUSD correlation index with other currency pairs that are correlated, for example GBPUSD+NZDUSD+AUDUSD. This means that you can now see the common index of those three pairs in relation to the EURUSD.
Custom index for major currency, example GBP have index of GBPUSD+GBPAUD+GBPJPY+GBPNZD+GBPCHF. This means that you can now see the common index of those pairs in relation to the GBP.
This script is unique because it requires the optimal combination of pairs needed for each pair specifically, which I came to during many years of studying the forex market so the source code of the script have to remain hidden.
If you are a beginerr, you can just apply simple trend-breakout strategy after you spot the divergence.
For advanced traders, you can use this together with ICT's and SMC concepts as a confirmation upon your entry.
Please comment if you like it!
You can choose any of the tags that are offered in the options
You can also create your own ticker if you select the Custom in Mode option.
If the comparison mode is enabled, the current ticker you are viewing is divided by the ticker selected in the indicator.
For example, if you have the EURUSD ticker open. And the EURUSD indicator is selected in the option in the indicator. Then you will get the EURUSD correlation index with other currency pairs that are correlated, for example GBPUSD+NZDUSD+AUDUSD. This means that you can now see the common index of those three pairs in relation to the EURUSD.
Custom index for major currency, example GBP have index of GBPUSD+GBPAUD+GBPJPY+GBPNZD+GBPCHF. This means that you can now see the common index of those pairs in relation to the GBP.
This script is unique because it requires the optimal combination of pairs needed for each pair specifically, which I came to during many years of studying the forex market so the source code of the script have to remain hidden.
If you are a beginerr, you can just apply simple trend-breakout strategy after you spot the divergence.
For advanced traders, you can use this together with ICT's and SMC concepts as a confirmation upon your entry.
Please comment if you like it!