This specific Indicator Forex Oracle is an Elite Membership Premium Indicator which only works on lower time frames for Day Trading and High Probability Trades.
In essence the Indicator creates an Index of all 7 major pairings for the Base quote (here EUR) and also an Index of all 7 major pairings for the quote currency (which here is the USD). Calculations are then made for the Z-Scores and then further mathematics are applied in relation to the opposing Z-Scores and then certain filters are applied to reduce the possibility of false signals. The indicator hunts for anomalies in comparative Z-Scores and the moving average of.
The Indicator does not provide signals very often, however, this is exactly what we want... Quality not Quantity. When the Forex Oracle does give signals, the signals are very accurate or at least a very accurate signal of bias whenever a signal is formed.
In this specific example of the EURUSD over the last couple of weeks the Forex Oracle has issued 2 signals. We can see both times the indicator gave the correct directional bias.
In this example we have the EURUSD pair on the 15 minute chart for showcasing the Forex Oracle
**ON THE CHART INDICATORS**
-We have the Forex Oracle in the main chart (printed coloured zones).
-We also have our Moving Averages set to the Daily moving averages of EMA's 14, 30 and 60. One thing you will notice is that our Professional Moving Averages are smooth and not like, like every other MTF Moving Average on Trading View.
-We also have our Z-Score which is highly customisable giving good indications when price may be too far away from its realistic price and also to give context to the Forex Oracle Indicator
-Lastly we have the FX Index which is highly customisable to compare many things between currencies. In this instance we have activated and this shows us that greater is being traded across the board in the base currency (EUR) than the quote currency (USD), showing much more interest by traders in the EUR.
**MASTERS OF TRADING**
Many Thanks and Trade Safe!
To request access to this indicator, please use the links provided below
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact MastersOfTrading for more information, or follow the author's instructions below.
Please note that this is a private invite-only script that was not analyzed by script moderators. Its compliance to House Rules is undetermined. TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Public Library.
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