Utilization of "Visualization Indicators" (Part 102)
“Visualization Indicator” usage (part102）
1. Advance and develop the “28 Currency Pairs List Indicator” into an indicator
“8CP Visualization Indicator”to plotUSDJPY
The “8CP Visualization Indicator” includesOceania version,London version,NewYork version,AnyCP version. This time, I used theLondon version.
The upper half is theUSDJPY 15-minute chart. The lower half is from the “8CP Visualization Indicator.” The green bold line graph corresponds toUSDJPY.
On Friday, USDJPY broke below other charts, so I entered a sell. When the graph started to move sideways, I closed the position.About170 pips of profit was gained.
2. Best SelectTry the indicator
The bottom image shows a screenshot fromJuly,4,18:41 (JST)
number in descending order. The bottom line,EURNZD, is colored red on all time frames, with a value of-2244.98, indicating a large negative number. shows a downtrend.
Now, let’s look at the chart forEURNZD.
The red arrows indicate the point where the screenshot was taken. They accurately capture the acceleration of the decline during the downtrend. If you short here,about120 pips of profit can be earned.
The “28 Currency Pairs Best Select indicator helps identify which currency among the 28 pairs is currently showing the strongest trend at a glance. It also indicates whether you should trade now with numeric and color cues. It’s an excellent indicator for assessing 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, tracked since May2020? May2021
to May 2021, we’ve been tracking EURJPY.
To view overall trends, I’ve drawn about30 minutes of the most recent3 weeks on a chart.
Last time I wrote the following:
JPY is rising,EUR is falling, so going forward,EURJPY is expected to move downward.
As predicted, it has fallen.
4hourly currency strength chart.
Purple isEUR, green isJPY.EUR
4. Scan all currency pairs to find tops and bottoms and plan a trend strategy (what’s the next target?)
The trade strategy of buying AUDJPY at a major bottom yielded great results (total profit1,590 pips) and ended previously. Now, let’s find the next target pair.
The indicator to use is, of course,42505 “天底Search indicator”.
Near the top areGBPJPY andGBPUSDUSDCHF andEURGBP and point upward. The arrows for and point downward. currency pairs are monitored, and if these arrows reverse, I will consider them as next trade targets.
If aiming for a reversal from the bottom, the target is clearlyUSDCHF.See the weekly chart for USDCHF.
On the weekly chart, it appears near a major bottom. If reversed correctly, it could yield over1,000 pips of profit (laugh).
Let’s wait patiently until then. Waiting is the essence of FX.
If you hold theTrend Line EX, waiting can be automated as well.
① or ② lines are drawn, and you enter a buy when the price breaks above. This is automated by the semi-automaticEA called “Trend Line EX.”
“Trend Line EX”
https://www.gogojungle.co.jp/tools/indicators/42257
If you’re interested in the8C 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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