I have been modifying these Index Indicators for a while now and it's time I shared them so hopefully someone can profit from them better than I have been able to ....... ha ha.
There is a Index Indicator for each of the 8 common currencies. You can throw them all on one chart and in theory view all 28 currency pair combinations from one chart. You can look for a strong currency to match with a weak one, or even better is one strong currency that is moving in the opposite direction to many weak ones or vise-versa.
Another example is sometimes say before a UK news announcement you can see that someone in buying GBP, but if you were to be only looking at GBP/USD it might not be noticeable as USD might be strengthening too so the GBP/USD just shows a sidewards move.
You can separately reduce or increase the input of the 7 pairs that make up each indicator if you want to fine tune them for what ever reason.
You can also flip the line up side down. Eg: if you had a EUR/USD chart up and just used the "Index EUR" and the "Index USD" then the EUR indicator would move in the same direction as price, but the USD indicator would move in the opposite direction, sometimes this is confusing so you can flip the line of the indicator that makes up the last part of the pair, which in this case is the USD indicator.
I have included a template file as the indicators do not display the colored currency names which help you remember which line is what.
I made these from one I found on this forum, they had errors in them and may still have, I am certainly no programmer, just a hacker. They do suck quite a bit of CPU usage at times, like when first loading them or changing time frames.
NOTE: The indicators need all 28 currency pairs in order to work correctly and the only package that I know of that does that is Alpari Russia. To save you downloading that version I have included a file named "Alpari-Demo.srv" that you put into the "config" directory, Restart Metatrader, then you can click File>Open an Account and choose the "Alpari-Demo".
4 Sept 2009
I just added the Sentinal_Revised.zip that has indicators that only work on the www.liteforex.org platform and are way less of a CPU drag on your computer. This new indicator should align itself up correctly with the chart even if there is candles missing from either the viewed chart, or from the data the indicator has to pull out from history. The old version did not do this.
I must give credit to Kevin_E as these are his indicators that I just changed a tiny bit.
http://www.forexfactory.com/showthread.php?t=22498
Best of luck to you all,
Dean.
There is a Index Indicator for each of the 8 common currencies. You can throw them all on one chart and in theory view all 28 currency pair combinations from one chart. You can look for a strong currency to match with a weak one, or even better is one strong currency that is moving in the opposite direction to many weak ones or vise-versa.
Another example is sometimes say before a UK news announcement you can see that someone in buying GBP, but if you were to be only looking at GBP/USD it might not be noticeable as USD might be strengthening too so the GBP/USD just shows a sidewards move.
You can separately reduce or increase the input of the 7 pairs that make up each indicator if you want to fine tune them for what ever reason.
You can also flip the line up side down. Eg: if you had a EUR/USD chart up and just used the "Index EUR" and the "Index USD" then the EUR indicator would move in the same direction as price, but the USD indicator would move in the opposite direction, sometimes this is confusing so you can flip the line of the indicator that makes up the last part of the pair, which in this case is the USD indicator.
I have included a template file as the indicators do not display the colored currency names which help you remember which line is what.
I made these from one I found on this forum, they had errors in them and may still have, I am certainly no programmer, just a hacker. They do suck quite a bit of CPU usage at times, like when first loading them or changing time frames.
NOTE: The indicators need all 28 currency pairs in order to work correctly and the only package that I know of that does that is Alpari Russia. To save you downloading that version I have included a file named "Alpari-Demo.srv" that you put into the "config" directory, Restart Metatrader, then you can click File>Open an Account and choose the "Alpari-Demo".
4 Sept 2009
I just added the Sentinal_Revised.zip that has indicators that only work on the www.liteforex.org platform and are way less of a CPU drag on your computer. This new indicator should align itself up correctly with the chart even if there is candles missing from either the viewed chart, or from the data the indicator has to pull out from history. The old version did not do this.
I must give credit to Kevin_E as these are his indicators that I just changed a tiny bit.
http://www.forexfactory.com/showthread.php?t=22498
Best of luck to you all,
Dean.
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Attached File(s)
perception is reality
