Utilization of the “Visualization Indicator” (Part 97)
“Visualizing Indicator” Utilization (Part97)
1. Further evolve the “28 Currency Pair List Indicator” into an indicator
“8 CP Visualizing Indicator” applies to EURAUDto draw EURAUD chart.
The “8 CP Visualizing Indicator” has Oceania version, London version, New York version, and AnyCP version. This time, we used the Oceania version.
The top half is the 15-minute chart of EURAUD. The arrows on the top half indicate the alert locations of the “28 Currency Pair List Indicator”. The bottom half is from the “8 CP Visualizing Indicator”. The red bold line chart corresponds to EURAUD.
On Thursday, EURAUD fell below other chart groups so I entered a sell, and closed the position on Friday night.About150 pips of profit.
2. Best SelectTry the Indicator
The figure below is a screenshot taken on2023 year5 month29 day16:51 (JST)。
The numbers are sorted in descending order. Looking at any row, the color of the numbers is not aligned. The absolute values are small, so in any currency pair, there is clearly no trend. In such a market environment, please make the wise choice of not trading.
Now, let’s look at the chart of the NZDUSD with the largest absolute value in the bottom row of the figure above, Total where the absolute value was the largest.
The red arrows show the point where the screenshot was taken. The long-term chart is in a downtrend, but at the arrow position, there is almost no range of movement. Even if you day-trade, you would lose only the spread.
numeric data and color display show that on the daily chart,4hourly is down (red color),1hourly and30min is up (blue color),15min,5min is no trend (green display). Also, the moving average on the chart(EMA200) is declining, indicating a downtrend on the higher timeframes. Therefore, if trading, it would likely be as follows.
①Enter a short when the price breaks below a counter-trend line (green) drawn in the consolidation area.Hold until it breaks above a downtrend line (purple) to exit.
②
Since the trend isn’t large in the first place, the profit would be about36 pips. Indeed, trading in a strong trend would yield a larger profit.
“28Currency Pairs Best Select Indicator” allows you to easily identify which currency has the strongest trend among the 28 pairs. It also tells you whether you should trade now using numerical and color cues. It lets you judge the overall movement of all currency pairs at a glance.
“28 Currency Pairs Best Select Indicator”
https://www.gogojungle.co.jp/tools/indicators/35128
3. What happened to EURJPY, which I’ve been tracking since May of the year before last?
2021, month has continued.
To view the overall trend, I’ve drawn about3 weeks on a 30-minute chart.
Last time I wrote the following.
EUR is rising, is falling. In terms of currency strength,EUR is strong, is weak. Moving forward,EURJPY is expected to rise.
It fell once, but rose again.
4
EUR, green isJPY. Both EUR and JPY are down. In terms of angle, JPY is steeper than EUR. Therefore, the rise ofEURJPY is expected to continue for a while.
4. Find tops and bottoms across all currency pairs and develop a trend strategy (continued)
I am developing a trading strategy to buy AUDJPY at the bottom.
Last time,
since it has moved into a rising phase from the bottom, repeating the strategy “buy when the diagonal line breaks above” allows you to consistently earn profit from the market.
That is what I wrote.
4H4 chart shows.
By simply repeating a simple trade of “buy when the diagonal, sloping downward line breaks above,” I earned a total of about990 pips in profit from steps ① to ⑤. Currently, I have drawn line ⑥ and opened a long position, so the unrealized gain is about190 pips190 pips.
The range of growth seems to be narrowing. Prices are not reaching new highs, so it may be time to close this trade. When including unrealized gains as well, the total profit is about1150 pips, so the strategy of “buying AUDJPY at the bottom” has yielded ample results.
“Trend Line EX”
https://www.gogojungle.co.jp/tools/indicators/42257
“8C Currency Strength Visualization Indicator is of interest? See below.
MT4 version https://www.gogojungle.co.jp/tools/indicators/39150
version https://www.gogojungle.co.jp/tools/indicators/39159
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