MCTC is the most advanced multi-currency indicator for daily trading that does NOT use moving averages. This versatile strength meter has a variety of settings that can be adjusted to suit your daily trading needs.
There are up to 12 time period settings, automatic calculation and graphical construction of the High/Low values of the previous period, 2 side counters showing the currency strength, pair strength, movement in points, movement in points on previous periods, percentage and pressure. Click on the chart to quickly switch between currency pairs. Control the strength of 28 currency pairs and find the best pairs to trade.
This indicator shows the strength of several currencies individually, measured against all other currencies. It measures the price movements of the currency pair of the current chart by comparing the base and quoted currencies, which are the base/quoted in all other pairs, and shows the strength movements.
- 12 customizable time periods from days of the week to hours and minutes
- Automatic construction of the maximum/minimum values, or the highest maximum/lowest minimum at the close of the bar, or the absolute maximum/minimum.
- Displaying power lines ONLY for the current chart pair
- Displaying power lines for all currency pairs
- Displaying power lines for each currency
- side counter 1
- The power of each currency
- side counter 2
- currency pair
- the strength of each individual currency
- the number of points that the currency pair has passed
- the number of points that the currency pair has passed above or below the high/low lines
- percentage of movement
- absolute force (pressure)
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- bars – the number of processed bars.
- font_size – the font size for the side counter.
- spacing – line spacing for the side counter.
- line_width – the line thickness of the selected chart currency.
- show_strength-draw power lines ONLY for the current chart pair, true/false.
- show_all_currencies-draw the strength lines of all currency pairs, true/false.
- show_all_strengths-draw strength lines for each currency.
- PM_M – use the maximum / minimum value at the close of the bar or the absolute maximum/minimum.
- prefix-prefix of characters, for example: xxxEURUSD.
- suffix – character suffix, for example: EURUSDxxx.
- Time1, Time2, Time3… Time12. time settings to reset all values. The function resets the strength values of all currencies and starts measuring until the next specified time. This is useful for starting to measure the movement of currencies, for example, during the news release and trading session (opening and closing of the London session). Sets the reset times – 12 time settings to reset values, day/hour/minute.
- Time1: enable time 1, true/false.
- D_D1: the day on which time 1 is used, by default every_day_1 (daily)
- monday_1-use time 1 on Monday
- tuesday_1-use time 1 on Tuesday
- wednesday_1-use time 1 on Wednesday
- thursday_1-use time 1 on Thursday
- friday_1-use time 1 on Friday
- H1: hour (0-24)
- M1: minute (0-60)
- Time1: enable time 1, true/false.
- D_D1: the day on which time 1 is used, by default every_day_1 (daily)
- monday_1-use time 1 on Monday
- tuesday_1-use time 1 on Tuesday
- wednesday_1-use time 1 on Wednesday
- thursday_1-use time 1 on Thursday
- friday_1-use time 1 on Friday
- H1: hour (0-24)
- M1: minute (0-60)
After setting the desired time periods (this may be the beginning of the trading session or after the release of important news)look for the strongest and weakest currency pairs. Also see the percentage column and the pressure column. Their values should be high, the percentage value should be more than 60-70.
Also see the strength values (show_all_strengths) and compare the strongest and weakest currency pairs.
Trading recommendations are shown in the screenshots.
Thank you and have a good trade.
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