I would like to know if any work has been done on inverse charts?
What I mean is, charts representing a currency pair in the inverse.
eg Instead of looking at EURUSD we are looking at USDEUR. The chart will not only be a mirror image of the other, it will have different y-axis price.
eg the EURUSD may be at 1.3475 but the USDEUR will be at .7421.
I have a few reason for requiring this view. One is to overcome the bearish bias with a bullish chart, or vice versa.
Another is to look at key levels from the inverse view - eg S&R at round numbers on one chart do not necessarily mean S&R at round numbers on the inverse chart.
Quite the opposite in fact -
We had strong support for the EURUSD at around 1.3440, but the inverse, USDEUR was around .7440.
My plan is to try to locate S&R on the USDEUR which can be found at round figures, and then invert that level to apply to the EURUSD, to see if any confluence exists in unlikely places.
I am aware that the TA is the same, only inverted. This is strictly a chase of numbers, round figures which may have some psychological advantage in an inverse chart. We have all seen price hesitate at levels ending with .**00, and this is an attempt to look at the .**00 levels in the reciprocal without creating charts by hand to do it.
I have searched threads on FF without success - most deal with diversion, correlation etc, and this is not what I am looking for.
Is there a mq4 file that can do this?
Kind regards
Ingot
What I mean is, charts representing a currency pair in the inverse.
eg Instead of looking at EURUSD we are looking at USDEUR. The chart will not only be a mirror image of the other, it will have different y-axis price.
eg the EURUSD may be at 1.3475 but the USDEUR will be at .7421.
I have a few reason for requiring this view. One is to overcome the bearish bias with a bullish chart, or vice versa.
Another is to look at key levels from the inverse view - eg S&R at round numbers on one chart do not necessarily mean S&R at round numbers on the inverse chart.
Quite the opposite in fact -
We had strong support for the EURUSD at around 1.3440, but the inverse, USDEUR was around .7440.
My plan is to try to locate S&R on the USDEUR which can be found at round figures, and then invert that level to apply to the EURUSD, to see if any confluence exists in unlikely places.
I am aware that the TA is the same, only inverted. This is strictly a chase of numbers, round figures which may have some psychological advantage in an inverse chart. We have all seen price hesitate at levels ending with .**00, and this is an attempt to look at the .**00 levels in the reciprocal without creating charts by hand to do it.
I have searched threads on FF without success - most deal with diversion, correlation etc, and this is not what I am looking for.
Is there a mq4 file that can do this?
Kind regards
Ingot
