RicardoSantos

[RS]Power Correlation Oscillator (EURO) V0

137 4 12
a tool to check euro             correlation and directional bias.
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//@version=2
study(title='[RS]Power Correlation Oscillator (EURO) V0', shorttitle='PCO', overlay=false)

s00 = security('EURUSD', period, close>close[1])
s01 = security('EURGBP', period, close>close[1])
s02 = security('EURCHF', period, close>close[1])
s03 = security('EURAUD', period, close>close[1])
s04 = security('EURNZD', period, close>close[1])
s05 = security('EURJPY', period, close>close[1])
s06 = security('EURTRY', period, close>close[1])
s07 = security('EURNOK', period, close>close[1])
s08 = security('EURCAD', period, close>close[1])
s09 = security('EURSEK', period, close>close[1])

power = s00 + s01 + s02 + s03 + s04 + s05 + s06 + s07 + s08 + s09
avg_power = ema(power, input(21))

hline(0, color=gray)
hline(5, color=gray)
hline(10, color=gray)
plot(title='Power', series=power, style=columns, color=power>=5?lime:red, transp=75, histbase=5)
plot(title='Average', series=avg_power, color=black)
Hi, can you explain a bit more how to use it ? Thx
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buy on green sell on red, unless average is on the opposite side, then buy on red and sell on green :p
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snapshot


probably a Scalpers dream...can pluck out divergences all over the chart. Fade the Extreme measures, Histogram divergences, etc. etc. etc....
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nice idea!
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