In “Developing A Multilevel Strategy” by Vladimir Vladimirovich Voznjuk in this issue, the author presents a simple indicator for currency pair trading.
A ready-to-use formula for the article implementing multiCHF is presented in the listing here. To use it, enter the formula in the AFL Editor, then press Insert Indicator.
You should modify the ticker symbol to match your data vendor symbology. You may need to adjust the scale if you apply this indicator to different pairs than EUR/USD and USD/CHF.
A sample chart is shown in Figure 1.
Ticker = "USDCHF.FXCM"; // the 'other' currency pair SetForeign(Ticker); fc = Close; fo = Open; RestorePriceArrays(); scale = 1; // scale depending on relationship of currency pairs z = ( Close - Open ) - (fc - fo ) * scale; Plot( z, "multi" + Ticker, colorRed );
FIGURE 1: AMIBROKER. Here is a 30-minute EUR/USD price (upper pane) with the 30-minute multiCHF indicator.