Utilization of "Visualization Indicator" (Part 61)
Utilization of the “Visualized Indicator” (its61)
1. Further evolve the “28 Currency Pairs List Indicator” into an indicator
“8CPVisualized Indicator”to drawEURGBP.
The “8CPVisualized Indicator” includesOceania edition,LondonNewYorkAnyCP edition. This time, we used theLondon edition.
The top half is theEURGBP 15-minute chart. The light blue arrow in the top half indicates the alert position of the “28 Currency Pairs List Indicator”. The bottom half is the “8CP Visualized Indicator” showing a light blue graph corresponding toEURGBP.CP Visualized Indicator” showing a light blue graph corresponding toEURGBP.
On Friday, the EURGBP graph of the “8CP Visualized Indicator” rose above the other graphs. If a long position had been opened here and closed over the weekend,about220 pips in profit could have been obtained. The “ Currency Pairs List Indicator” also issued alerts at roughly the same level.
2. Best SelectTry the Indicator
The following image is a screenshot taken atSeptember 2022 year 9 month 22 day 17:33.
Total numbers are sorted in descending order. At the bottom row,CHFJPY shows[M5],
,[M30],[H1],[H4],[Total] are all red.[D1] is green, but theTotal value is-10251.41, an abnormal value.CHFJPY indicates an extremely strong downtrend.
Now, let’s look at theCHFJPY chart.
The upward red arrows indicate the position where the screenshot was taken. At the position of the red arrow, the rate moved extremely (over700 pips or more). This was caused by Japan’s currency intervention.
3. Since last May, what happened to EURJPY which we have been tracking?
Since May 2021 year 5 we have been tracking EURJPY.
To view the overall trend, a30-minute chart covering about the last3 weeks is drawn.
Last time, I wrote the following.
Because the angle of ascent isJPY>EUR, the future tendency is that will tend to move downward slightly.EURJPY
It has indeed moved down significantly.
4Let us refer to the hourly currency strength chart.
Pink isEUR, green isJPY. Due to intervention, rose sharply with a steep angle. Meanwhile, is moving downward. As a result, has dropped significantly.
In the future, it is unclear how long the intervention effects will last, but for a while, judging by currency strength, is likely to be higher than. However, the fundamental trend of a weaker yen may not be stoppable by a little intervention.
EURJPY is expected to remain bearish for the time being, but could reverse upward if the yen continues to weaken.
If you are interested in the “8C” currency strength visualization indicator, please refer to the following page.
MT4 versionhttps://www.gogojungle.co.jp/tools/indicators/39150
MT5 versionhttps://www.gogojungle.co.jp/tools/indicators/39159
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