Technical Indicators for MetaTrader 5

Currency Index Watcher

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Information

Indicators
MetaTrader 5
5
Icham Aidibe
3 October 2017
3.9
7 September 2019

Overview

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
You'll find more examples on the "Comments tab".

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.


7 DAY MONEY BACK GUARANTEE

If for any reason you do not like the purchased program, you can request a refund within 7 days from the date of purchase. You can also make an exchange for any other product at an equal cost or by paying the difference.

Simply send a request for refund or exchange with your order number by email: [email protected].

Refund requests received more than 7 days after purchase will be rejected.

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