At its core, multi-currency indicators and their benefits are well described in a variety of textbooks for the Forex trading system. Already existing indicators are used in trading systems, create new ones, improve characteristics. The advantages of using such a tool are undeniable in the user environment of traders.
Features Of Multiple Currency Indicators
Trading systems, in particular Forex, which uses the trading terminal MetaTrader, operate using many indicators of the state of the currency market. Users surely apply them to the analytical forecast of the movement of this or that currency, currency pairs. Multi-currency indicators, which have become popular among emerging traders and professionals, are increasingly being used to complete the market forecast.
The features of using multi-currency indicators are that they are configured to control deeper parameters of movement of currency pairs. In particular, the state of several pairs of currencies is monitored, and patterns of the process of changing currency fluctuations are signaled. They are a good integral indicator of the process of currency development over time and due to dependencies on the pressure of competing pairs of currencies.
Implementation of multi-currency indicators allows to simplify the set of used tools of trade analytics. Thus, instead of using several differently directed trade indicators, a generalized indicator is used, which technically and analytically simplifies the market analysis process. One-time control of currency pairs does not require visualization of the market of different currencies on different monitors of the trading terminal.
Most Used Multi-currency Indicators
Multi-currency indicators are a tool of smart creativity of traders-professionals who make the process of management and control of the currency market smart, predictable. The better the trader ‘s instruments, the more likely the trading operation is to be successful. The practice of using multi-currency indicators allows to highlight some of the most used by traders.
MultiGraph – is a chart of a currency trend that can show how it changes when you add parameters to other currencies. This indicator analyzes new dependencies.
MultiCCI – multicurrency indicator of currency price change from the average value of statistical data. Using it is determined upper or lower limit price. Accordingly, it is expected estimate the direction of movement of currency prices.
MultiRSI – is a complex indicator of the Relative Strength Index. In this case, the trader controls the moment of the trend peak and can anticipate a change in its direction.
All CCI v1.0 – built for the CCI Oscillator. Displays the key figure of the CCI value in relation to different time parameters of one currency.
Of course, these multi-currency indicators and their advantages do not represent all the possibilities of such tools. They are constantly being modified and improved in their application.