Currency Strength Exotics Indicator USER MANUAL

Check out this blog. You find many examples how to read the exotics indicator.

Currency Strength Analytics for Gold:

https://www.mql5.com/en/blogs/post/697695

How to setup the DEMO with strategy tester

I made this video for SPEED/IMPULSE but it works simpilar with Currency Strength EXOTICS.

Use the Tester template !

Copy the file into MT4 folder Templates.

How to use the demo, more info:

Check here: https://www.mql5.com/en/blogs/post/697135#comment_5242964 (comment 2)

How to download, update or install the indicator go to Terminal / Market / Purchased within your MT4/5 (Ctrl+T). 

Step by step instructions go here: Check the user manual for Impulse comment 7 on "How to install the indicator?"

https://www.mql5.com/en/blogs/post/697135#comment_5261974

https://www.mql5.com/en/blogs/post/682102

3 days later:

One week later:

(I added in this chart also Advanced Currency Impulse Indicator, so we can have USD strength alert. On the bottom and left top.)

Blog: https://www.mql5.com/en/blogs/post/682102

chart m5

Showing here with specialized indicator Currency_Strength_EXOTICS DAX STRENGTH.

It shows not only all 8 currency strength lines (AUD to USD) but one more by choice, here it is used with DAX or DE30.

The simplest application is to trade when DAX strength build the double-GAP with USD (Moving in opposite direction).
But other combinations are also possible. If your broker have DAX/Euro than you can also trade dGAP DAX/EUR.
With other currencies it is possible to build a basket. So for example if we have dGAP DAX and JPY you could build a basket with 2 trades DE30 (Which includes USD) and USDJPY. Now you need to make good calculation to buy or sell exactly as many lot of USDJPY to eliminate the money USD which holds in the DE30 position. Now you will trade DAX against JPY. In same way it will work with all other currencies.
Happy trade!
Regards Bernhard

DAX bearish DIVERGENCE

chart H4

Make attention to the picture below. Also we can see on Bitcoin Daily a double divergence. Note USD-line must be inverted to apply a divergence.

HIDE the other 6 CS lines --- will show only the product and the base currency, in your example gold and USD. In this case the lables will be shown only with those two. Also you can turn the lables off and MFibs 23 and 50.

Showing here the correlation with CAD and Oil with the news Crude Oil Inventories.
CAD: left side green, Oil: right side golden line.
With this example, you can also compare Advanced Currency Strength28 Indicator and Currency Strength Exotics (this one) which allows you to add one symbol more by choice.

Pullback-trades from outer Market Fibs

It will open automatically 7 support charts in the background and switch the timeframe on them when the indicator is applied to another timeframe. If you use the default template with indicators on it is advised to go to these charts and delete all indicators from it, after that leave them alone to do its job. You can now they minimize and ignore.

•  This chart is for updating external currency quotes.
•  Remove all indicators from this chart. Keep it minimized.
  

(This function can be deactivated. Input "open support charts!")

For what do we need that? The 7 USD-pairs are the most important data the indicator needs to calculate all the 8 currency strength lines. To have those charts in the background will speed up the data feeds from your broker and make it faster for the indicator to read and make sure always to be updated.

Very important, your MetaTrader is now checking for missing bars and is correcting history data feed.

GOLD Daily

Reversal from extreme level Market Fibonacci 161

Double-GAP with USD (red).

USDCNH H4

Set the right input parameters. The first steps:

If you broker calls XAUUSD as "GOLD" enter GOLD in “EXOTIC pair name” input !  (include any suffix)
Let it empty if the name is XAUUSD or if you use another symbol on the chart. For other symbols (like DAX) let it empty. For EURSEK enter USDSEK.

• auto-get EXOTIC pair name from chart

• EXOTIC reverse line

If you want to reverse the golden line. (Gold strength is already reversed but you can undo if you reverse again, then set the input below (autodetect) to false.)

• autodetect EXOTIC to reverse line

This is now automated. If USD is the base currency the line is not reversed (USDMXN). For commodities, indexes, crypto etc. which USD is the quote currency (BTCUSD) the line is reversed.

• suffix for currency pairs (EURUSDm=m)

If your broker uses a suffix enter it here. (If EURUSD is called like EURUSDm then enter m). This is important!

MAJOR UPDATE v2.1 Sept. 2020: Added GAP-Arrow! Make attention, older pictures do not include the arrow yet!

• choose quote currency for exotic pair (USD)

You can now select the quote currency for gold or indices. While it is usually displayed in USD, in exceptional cases it may be e.g. EUR or GBP.

==== Chart Settings

• use currency specific characteristics (Each currency will be handled by its own characteristics)

Those are graphical inputs.

• Line width base and quote CS

• show USD line always thick
• Line width other 6 CS

• Line other 6 CS dotted if width=1

• HIDE the other 6 CS lines (show only base and quote CS)

• Line width Market (0=not)
  

Here you can change the line thickness of market. Set to 0 will hide the line.

The market line represents the Market Momentum (the entire market). The market is flat if it falls below MFib 23. I would not advise trading in such conditions. Best to trade is between 30 and 80, max 90.      

• draw Market line as a cross

Here you can change the above-mentioned line to show as a cross to make a visual difference to the currency lines.

•  draw GAP arrow
  

•  GAP Market Fib (23) slope
  

The value represents the Market Fibonacci level when a GAP or the required slope is reached. (This value can be set higher for volatile symbols and TFs!) Above mentioned arrow will then be printed in the subwindow. If we find 2 inverted arrows on the same bar we call it the double GAP. You can change the input higher or lower to optimize for your trading style and timeframe. It will draw with the historical Market Values.

Make attention to the picture below. Also we can see on Bitcoin Daily the GAP-Arrows. Note USD-line must be inverted to apply a double GAP.

In the picture above the other 6 currencies were hidden by input parameters. The size of the arrows was increased for illustration purposes.
Inputs used in above picture are:

• HIDE the other 6 CS lines = true
• GAP Market Fib slope = 32
• arrow size = 3

More parameters:

• quick chart open in new window

• Show CS labels end of line

Currency names labels on the right of each currency line. Show or hide.

==== Color Settings

• EUR Color and more...

Euro is white, please change if you use white chart background. For the rest of the colors, you know how to use it...

=== Other Settings

• open support charts!

It will open automatically 7 support charts in the background and switch the timeframe on them when the indicator is applied to another timeframe. If you use the default template with indicators on it is advised to go to these charts and delete all indicators from it, after that leave them alone to do its job. You can now they minimize and ignore.

If you have a big 4k monitor use this inputs to correct pixel:

• arrow size (1 to 5)
• Font size button
• CS label size
• Font spacing X (big screen)
• Font spacing Y (big screen)

• show line always bold (Comma separated CS list)

An application could be to show "risk on" assets like JPY & USD against "risk off" assets like CAD & AUD. Then add into the above-mentioned input the comma-separated list:  JPY,USD,CAD,AUD The sequence does not matter.

• use EXO-PIN 

For developers and to use with Combo Signals EXO indicator tool.

• Force objects to subwindow number (0=auto)

This input was used on some older MetaTrader versions. Now you can ignore.

BUY only at MQL5 website!

How to install a template?

Click MT4 menu File / Open DataFolder

Open now the folder xxxx \ Templates

Copy the file into this folder.

Then just right click into a chart and select Templates.

A template for Currency Strength Exotics only. CS_Exotics_1.tpl is default setting, CS_Exotics_hide.tpl shows only golden line and USD but hide the other 6 currencies.

A template for Currency Strength Exotics and Advanced Supply Demand. CS_Exotics_ASD.tpl

Do not forget to edit the settings if your broker use a suffix (enter on suffix setting) or your broker calls gold not as XAUUSD. (See comment 13!)

(Templates updated 5 July 2018)

When to update:

You will be notified on your MT4 terminal in the upper right corner with a message and then you can download the update.

Check the message on MT4 in upper right corner.

How to update:

Possible you have to wait 24 hours from release date until it is available for update.

Terminal's showcase “Market” is updating once in 24 hours. If you don't see any updates - that means 24 hours haven't passed yet. You have to wait for showcase update.

If a new version of a product is available, you will see the corresponding message against it as well as the "Update" button (or the "Update demo" button for the demo version of paid products).

Once this button is pressed, the new version will be downloaded. The new file replaces the previous one. Thus if you need, save the old version of the file under a different name or outside of the directory [platform data folder]\MQL5\Market\.

To install updated version immediately delete (or better safe/drag to another folder outside of MT4) indicator file from Navigator window, restart the terminal and make a new install from Terminal - Market - Purchased tab.

Thank you friends for your reviews!

Profit now with a lower price. Limited offer with discount. 

Original Price: 160$

Discounted Price: 128$

Get it now with discount 20% OFF!

MT4 CLICK HERE

I will always help you if you have any questions.

Thanks, I wish you many green pips in the future.

Best regards, Bernhard

Just send an email to get more info and detailed description.
currencystrength28@gmail.com

UPDATE Version 1.50 - 2018.08.19

• Added new buffers to show historically the dynamic Market Fibonacci reversal levels instead of horizontal lines.

Want to trade exotics pairs on daily chart? Here is how:

• We combine Advanced Supply Demand with Currency Strength Exotics.

Advanced Supply Demand is set to alert on daily S/D zones. It will alert on enter zone or reverse from zone or break a zone.

Then we check with Currency Strength Exotics for a confirmation.

A very good setup seen below JPY and NOK strength reached extreme MFib values and started to hook inwards when at the same time a nested demand zone was tested.

• The daily demand zone was nested within weekly and supported a trend reversal together with currency strength.

Profit now with a lower price. Limited offer with discount. 

Original Price: 160$

Discounted Price: 128$

Get it now with discount 20% OFF!

MT4 CLICK HERE

I will always help you if you have any questions.

Thanks, I wish you many green pips in the future.

Best regards, Bernhard

Just send an email to get more info and detailed description.
currencystrength28@gmail.com

Scan all 28 Forex pairs with only ONE chart... with Advanced Currency Strength28 Indicators

Best regards Bernhard

www.CurrencyStrength28.com

.