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Multi-currency technical analysis indicator based on the resonance of related financial assets.

The idea of ​​correlations between different financial assets is not new, and it would be interesting to develop algorithms based entirely on the analysis of this pattern. The indicator contains a multi-currency code based on the article " Resonance - a new class of technical indicators " by Vasily Yakimkin published in the magazine "Currency Speculator" (2001).

In a nutshell, the idea of ​​the method is as follows. For example, to analyze the EUR/USD market, we can use the readings not only of any indicator on that asset, but also of the same indicator on related assets - EUR/JPY and USD/JPY.

It is best to use indicators that are normalized within the same range of variation to facilitate measurement and calculation. The Stochastic Oscillator is ideal for this purpose and is already used in this indicator.

A detailed description of this indicator and its signals can be found in the article "Creating an Expert Advisor for Trading on Multiple Instruments ".

Attachment download

📎 multistochastic.mq5 (18.24 KB)

Source: MQL5 #451