The currency array indicator for MT4 has been designed to show reveal instantly and graphically trend strength and momentum for all the major 28 pairs. This is displayed in the array with the gradient of the line displaying trend strength or congestion phases. All these pairs are then ranked in the ranking table and colour coded so show those pairs which are most bullish and which most bearish, and those in congestion. Finally the indicator also delivers signals when currency pairs are approaching an overbought state or an oversold state and providing the opportunity to enter a position, once the current trend duly reverses. The indicator works in all timeframes, and any currency complex can be isolated instantly to reveal currency strength or weakness and the sentiment across the market.
In this video we explain how to use the currency array indicator for MT4 in multiple timeframes, as well as explaining in more detail some of the basic concepts and ideas of the indicator. The currency array indicator gives an instant view of trend strength both across the timeframes but also for individual currencies and the currency complex itself allowing you to asses risk and opportunity. Jump into an existing trend, or wait for a reversal – the choice is yours.
In this video we explain how the currency array indicator develops and delivers the overbought and oversold signals for currency pairs across the timeframes. The first signal to appear is when a currency pair is approaching an overbought or oversold state, and a second signal then confirms if the pair have indeed reached this condition. At this point it’s off to the charts for further analysis.
The currency array indicator is a great tool for identifying the universal flow of sentiment across a currency complex. The array instantly displays when currency pairs are in divergence, either signalling rotation out of the current phase, or perhaps rotation into the current flow of sentiment. The currency array indicator for MT4 signals this instantly and quickly and in any timeframe, giving clear signals of whether a position is a higher risk or lower risk trading opportunity as a result.
In this video we show how the currency array indicator works in realtime in terms of its relationship to the price charts. In this example we see the USD/CAD move from a very bearish picture to a bullish one on the fast timeframes, with the array sweeping round and showing this in realtime.
In this short video we explain the importance of the zoom functions on the toolbar. This helps to maximise your workspace with the indicator array whether using a single array with the charts alongside, or a multiple array of the indicators spread across the timeframes.