Currency Correlation (Majors)

[zaphod]

Sorry, I didn't have all the pairs loaded-works now--Thanks

[t1982t]

Hello Apprendice
I wondering if it is possible do this indicator like a table, with numbers. With a correlation from -1 to 1, like the traditional table of correlation.
Example: http://fxtrade.oanda.com/lang/es/analys ... orrelation
Thank you
Kind regards

[Apprentice]

Your request is added to the developmental cue.

[flem_wad]

Hi,

Had an idea to improve this indicator!

1) A zero line could be added. And:
2) User-defined overbought and oversold levels.

That would be cool. I am going to try and code the mod myself. Wish me luck.

[Apprentice]

Your request is added to the development list.

[Apprentice]

As requested, Overbouth / Oversold Levels added.

[flem_wad]

Hi,

Could a strategy be written for this indicator?

If so, thanks.
flem_wad

[Apprentice]

Yes.Can you describe an algorithm for this strategy.

[flem_wad]

Hi Apprentice,

Example Trades/Trading Logic (please refer to screenshot.png)

Whenever one currency crosses another, a trade is executed. This depends, however; on the index/base currency that the EA is using (default: USD) and this will be user-definable.

For example: In the screenshot, the USD (Green line) is going up and passes through NZD; GBP; AUD and CAD. In this case, we enter a long trade.

Equally, the USD passes through JPY going down and in this case we enter a short trade (because the base currency is USD.)


I hope this is not too difficult.
Take care.
flem_wad

[izzatilla]

I have a following problem please help me in resolving

An error occurred during the calculation of the indicator 'CURRENCY CORRELATION LEVELS'. The error details: Currency Correlation Levels.lua:342: Incorrect instrument name..