Currency, not pair, trading (Currency, not pair, trading) - MT4/MT5 Resources
I'll try to explain this.
I'm developing a system that trades a currency pair based on the behavior of the two currencies that make up the pair. We focus on how many pips (+/-) each currency has, depending on the performance of their corresponding currency pair. Example: long EURUSD, closing price - opening price = 200 points. Therefore, the currency is +200 pips against the euro and -200 pips against the US dollar. This is a simplistic view but I hope it gets the point across (I use the 2 moving averages listed below instead of the open and close).
See screenshot below.
Here is the content of the indicator, from bottom to top:
HL Volatility (Red Line Indicator) – The indicator I use to determine stop loss distance. It is a moving average (high-low) of volatility.
Currency Difference (Histogram) - This is the difference between 2 currencies in the Currency Points indicator.
Currency Points indicator (2 lines) - calculates how many points there are for each currency (calculation is included in the file).
The arrows come from the Currency Arrow indicator (based on consecutive bars in currency divergences) driving trading signals.
There are also 2 moving averages - 4 smoothed on the closing price, and another 4 smoothed on the closing price but moved 4.
As you can see, the arrows give some good trading signals. But I'm trying to "clear" some of the missing signals. That is, trying to perfect this.
I'm including the source code of all indicators because I can't think and type at the same time.
All files except Currency Indicator Helper.mqh are located in the indicators folder. Mqh files are located in the containing folder.
The required currency pairs are: EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, NZDUSD, USDCHF, EURAUD, EURCAD, EURNZD, EURGBP, EURJPY, AUDCAD, AUDJ PY, AUDNZD, GBPAUD, CADJPY, GBPCAD, NZDCAD, GBPJPY, NZDJPY, GBPNZD, GBPCHF, NZDCHF, CADCHF, AUDCHF, CHF Japanese Yen, EURO CHF The current chart is 1 hours.
I'm developing a system that trades a currency pair based on the behavior of the two currencies that make up the pair. We focus on how many pips (+/-) each currency has, depending on the performance of their corresponding currency pair. Example: long EURUSD, closing price - opening price = 200 points. Therefore, the currency is +200 pips against the euro and -200 pips against the US dollar. This is a simplistic view but I hope it gets the point across (I use the 2 moving averages listed below instead of the open and close).
See screenshot below.
Here is the content of the indicator, from bottom to top:
HL Volatility (Red Line Indicator) – The indicator I use to determine stop loss distance. It is a moving average (high-low) of volatility.
Currency Difference (Histogram) - This is the difference between 2 currencies in the Currency Points indicator.
Currency Points indicator (2 lines) - calculates how many points there are for each currency (calculation is included in the file).
The arrows come from the Currency Arrow indicator (based on consecutive bars in currency divergences) driving trading signals.
There are also 2 moving averages - 4 smoothed on the closing price, and another 4 smoothed on the closing price but moved 4.
As you can see, the arrows give some good trading signals. But I'm trying to "clear" some of the missing signals. That is, trying to perfect this.
I'm including the source code of all indicators because I can't think and type at the same time.
All files except Currency Indicator Helper.mqh are located in the indicators folder. Mqh files are located in the containing folder.
The required currency pairs are: EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, NZDUSD, USDCHF, EURAUD, EURCAD, EURNZD, EURGBP, EURJPY, AUDCAD, AUDJ PY, AUDNZD, GBPAUD, CADJPY, GBPCAD, NZDCAD, GBPJPY, NZDJPY, GBPNZD, GBPCHF, NZDCHF, CADCHF, AUDCHF, CHF Japanese Yen, EURO CHF The current chart is 1 hours.
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