Utilization of the "Visualization Indicator" (Part 51)
Utilization of the “Visualization Indicator” (Part51)
1. Further develop the “28 Currency Pairs List Indicator” into an indicator
“8CPVisualization Indicator”to plotUSDJPY.
The “8CPVisualization Indicator” includesOceania version,London version,NewYork version,AnyCP version. This time, we used theLondon version.
The upper half is the 15-minute chart ofUSDJPY. The blue arrows in the upper half indicate the alert positions of the “28 Currency Pairs List Indicator”. The lower half is the “8CPVisualization Indicator.” The green bold-line graph corresponds toUSDJPY.
USDJPY has been in a yen-weakening trend, continuing a gradual upward trend. If you had built a long position on Monday and held until the weekend, you could have earnedapproximately300PIPS in profit.
From now on, the yen-weakening trend is expected to continue.JPY-related currency pairs can be monitored, and a simple strategy of buying on dips should be sufficient to win.
2. Best SelectTry the Indicator
The figure below is a screen capture taken onJuly14,2022 at 17:33.
Totalis sorted in descending numerical order.
The top row,USDJPY shows[M5],[M15],[M30],[H1],[H4],[D1],[Total], all displayed in light blue. The Total value is4438.52, indicating a very strong upward trend in.
The bottom row,NZDUSD shows the opposite,[M5] to[H4] all in red. This indicates a downward trend inNZDUSD.
Now, let's look at theNZDUSD chart.
The above figure isNZDUSD on a15-minute chart.
The red arrows mark the position where a screen capture was taken. If you had placed a short position here, you could have earned approximately30PIPS of profit.
3. Since May last year5, what happened with EURJPY?
From 2021 year5 month, we have been trackingEURJPY moves.
To view the overall trend, we have drawn about the last30 minutes, about3 weeks on a 30-minute chart.
Last time, we wrote the following:
It fell sharply downward below.
From the daily currency- strength flow,EURJPY appears to be on a downward trend.
After forming a reverse head-and-shoulders pattern, it moved up.
Given the outlook for continued yen weakness, the lower limit is likely to be heavy.
We will also check currency strength.
“8C Currency Strength Visualization Indicator” on a daily chart.
As before,USD remains the strongest currency,JPY the weakest. In terms of direction,,GBP,JPY are going down, while others are rising.USD is followed byCADCHF as strong currencies.6 months16 daysSNB (Swiss National Bank) raised rates, andJuly 13
“8C Currency Strength Visualization Indicator” may be of interest to you; please refer to the following page.
MT4 version https://www.gogojungle.co.jp/tools/indicators/39150
MT5 version https://www.gogojungle.co.jp/tools/indicators/39159
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