MastersOfTrading

MoT - [Elite] - FX Index

**THE INDICATOR**

Here we have this premium indicator which is the FX Index which is highly customisable to compare many things between currencies. In this instance we have Volume activated and this shows us that greater volume 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.

Basically the FX Index creates two Indices, one of the Base Currency and one of the quote currency

There are 3 different modes being:

  • Normal
  • Difference
  • Scale of 100

You then have the ability to change the source for the above mode to any of the following:

  • Volume
  • True Range
  • On-balnce Volume Change
  • ACC/ Dist Change
  • Close Price Change
  • Median Price Change
  • Rate of Change
  • RSI
  • Z-Score

You have the ability to change the base currency or the quote currency or leave it for the Indicator to choose default which is the "active" pair on the chart.

You can also choose a variation of the indicator which is non-lagging and non-repainting.


**THE CHART**

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 Multi Time Frame 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 Zig Zag 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 this indicator which is the FX Index which is highly customisable to compare many things between currencies as described above.


**MASTERS OF TRADING**

Many Thanks and Trade Safe!

To request access to this indicator, please use the links provided below
Invite-only script

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.

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