Utilization of "Visualization Indicators" (Part 80)
Utilizing the "Visualization Indicator" (its80)
1. Further evolving the "28 Currency Pairs List Indicator" into a visualization indicator
“8CP Visualized indicator” EURCAD
using the 8CP Oceania London New York AnyCP New York
The upper half is the 15-minute chart for EURCAD. The arrows in the upper half indicate the alert positions of the “28 Currency Pairs List Indicator.” The lower half is from the “8CP” visualized indicator. The orange bold line graph corresponds to EURCAD
I entered a short on Friday, and when the visible indicator’s graph started to level off, I closed the position. About 130 pips of profit was obtained.
2. Best SelectTry the Indicator
The figure below is a screenshot taken at February 6, 2023 at 07:00 (JST ).
In the top line, the value for USDJPY is abnormally large. Also, all digits are displayed in light blue. USDJPY shows an abnormal upward trend.
Now, let us look at the USDJPY chart.
It surged due to the U.S. employment data released the week before last. On Monday morning, the chart opened with a gap up. In such a price move, the28 currencies Best Select indicator reflects an unusually large value.
3. What happened to EURJPY since May of the year before last?
Since May, 2021, we have been tracking EURJPY movements.
To see the overall trend, we draw about the last 30 minutes over 3 weeks on the 5-minute chart.
Last time, I wrote the following.
JPY is trending down, EUR is trending up. EURJPY will rise.
On Monday it rose, but then it declined.
4.Refer to the currency strength chart by timeframe.
Pink indicates EUR, green indicates. JPY is flat, is downward,
If you are interested in the “8C Currency Strength Visualization Indicator,” 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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