Utilization of “Visualization Indicator” (Part 140)
Use of the "Visualization Indicator" (its140)
1. Further evolve and develop the "28 Currency Pairs List Indicator" into an indicator
“8CP Visualization Indicator” forCHFJPY plotting
The "8CP Visualization Indicator" includesOceania edition,London edition,NewYork edition,AnyCP edition. This time, we used theNewYork edition.
The upper half is theCHFJPY 15-minute chart. The lower half is from the “8CP Visualization Indicator”; the blue thick line graph corresponds toCHFJPY.
On Monday,CHFJPY fell below other graphs, creating a divergence, so we entered a sell. It closed on Wednesday, yielding about180pips profit.
With the “8CP Visualization Indicator”, you can focus on the most volatile currency pair to trade efficiently.
2. Best Select Try the Indicator
The following image is a screenshot taken on2024 year327 day 19:38 (JST) .
[Total]Numbers are arranged in descending order.1 bottom rowCHFJPY shows red color on all timeframes, and theTotal value is-3071.04, a large negative number. This indicates a downtrend forCHFJPY.
Now, let's look at theCHFJPY chart.
The red arrows indicate where the screenshot was taken, capturing the sharp drop.
“28 currency pairs indicator Best Select lets you easily identify which currency pair among 28 shows the strongest trend. It also tells you, with numbers and colors, whether you should trade now. It is 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. 2021 year5 month onward, how has the EURJPY moved?EURJPY movement
Since20215EURJPY, we have been tracking movement.
To view the overall trend, we draw about30 minutes of the most recent3 weeks.
Last time, it was written as follows.
JPY is almost horizontal, is falling, soEUREURJPY will fall.
As expected, it seems to be slightly bearish.
30
Pink isEUR, green is.JPYJPY andEUR are mostly horizontal. In terms of currency strength,JPY>EUR,EUR is slightly downward compared toJYP, soEURJPY tends to be slightly downward.
4. Two new indicators released (reprint)
“Toretore Indicator” and “Toretore28CP_Select Indicator”.
These are based on treating the market as waves, and trading only in the direction from convergence to divergence (not trading at other times).
5. Trading examples using the “Toretore Indicator” and “Toretore28CP_Select Indicator”
To use: first, with the “Toretore28CP_Select Indicator find among 28 currency pairs the pair that is most converged on a long time frame. Then, on a shorter time frame, select a pair whose color is red or blue.
Next, with the “Toretore Indicator”, begin trading at the timing when it moves from convergence to divergence.
(1)EURUSD
EURUSD, trade in the selling direction. The trader used the semi-automaticEA “TrendLine-EX
On the short time frame, selling pressure is strong, so auto-entry yielded immediate profit.
In theTrendLine-EX, besides a fixed-profit horizontal line, there are diagonal take-profit lines and an option to place SL at the entry price; turning this ON and leaving it alone is sufficient. This becomes a “no-loss trade.”
(2)GBPUSD
In a downtrend, wait for a pullback and then enter a sell.
From the bottom, focus on the second row’s2nd line,GBPUSD. The overall values are small, indicating convergence; on M15 it's red (down), on H1 red (down), on M1 and M5 green (pullback).
GBPUSD is in a downtrend. With the “Toretore Indicator”, wait for convergence toward the bottom. When the indicator’s main line turns red and it breaks above two moving averages, open a sell position.
In this example,SL andTP were set manually. After entering the short position, there was some drawdown, but it fell without hitting theSL.
6.
Recommended indicators
With semi-automaticEA, if you have theTrend Line EX, you can draw a diagonal descending line, and when it breaks above, automatically buy; when it breaks above, automatically exit—hands-off trading.
※“Trend Line EX”
https://www.gogojungle.co.jp/tools/indicators/42257
If you are interested in the “8C Currency Strength Visualization Indicator,” please refer to the following pages.
MT4 edition https://www.gogojungle.co.jp/tools/indicators/39150
MT5 edition https://www.gogojungle.co.jp/tools/indicators/39159
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