Currency Index Watcher
Currency Index Watcher is a simple and user-friendly tool for whoever wish to trade Forex using currencies indexes.Currency Index Watcher is configurable and usable directly from the panel.Indexes of 8 custom currenciesEUR, USD, GBP, JPY, CHF, AUD, C
Currency Index Watcher is a simple and user-friendly tool for whoever wish to trade Forex using currencies indexes.
Currency Index Watcher is configurable and usable directly from the panel.
Indexes of 8 custom currencies
EUR, USD, GBP, JPY, CHF, AUD, CAD, NZD (default)
Any 3-chars symbol from your market watch could be used (BTC = bitcoin, RUB = ruble, CNH = yuan etc ...) : double click the symbol label
Ability to select which currencies and made-of pairs will be analyzed : check/uncheck wanted symbols in the calculation
Graphics : there's 2 types of graphics you'll meet there ...
Selected currencies compared as an histogram:gives an overview of the whole forex market - automatically updated according to selected currencies
Specific currencies's historical data over the chosen period:click on the value to display this graphic, by analyzing the index of the currencies thru time it's possible to make yourself a better opinion on what's upcoming
Currencies Pairs
Selection of opportunities is made according to the following selection criteria:
Minimal threshold:minimal difference in points of indexes' variation, the higher it is the more accurate is the signal.
Search among all currencies or only opened chart
Period: (W)eeks/(D)ays/(H)ours/(M)inutes, default is set to 24h.
MA (moving average's period):0=off, to use prices' from a moving average and take benefit from smoothing rather than standard prices.
Heat zone & signals :
Add in the heat zone :default is set to 5 - when a pair reaches that level of strength (whatever it is bullish or bearish), it is signaled as being trending
Remove from the heat zone :default is set to 3 - when a pair falls below that level of strength (whatever it is bullish or bearish), it is signaled as not being trending anymore
Clear journal : will clear the journal
Currencies pairs are listed according to a color-code (Green/Red) based on the "heat zone" values defined by the user :
Dark color = strong trend
Normal color = trending
Light = insignificantly trending
Scope : default is set to 5
The scope is a "multitimeframe zoom", a unique feature developed for CIW, since last update values it displays aren't no longer strengths, but forces
A concrete example being more talkative : "EURUSD, 24h, Scope 5", it will show EURUSD force on :
the whole last 24 h : strong bull
the last 19 h : bull
the last 14 h : bull
the last 9 h : bear
the last 4 h : strong bear
With such a deep analysis it's possible to easily anticipate any upcoming consolidation/breakout etc ...
Customization & friendliness
Default settings : any change made to CIW is registered, this button will reset the indicator to its default settings
Beep to notify : enable/disable sound notification
Currency Index Watcher is timeframe independent and needs to be applied on one only chart but an interval of >=24h is recommended to rely on this strategy.