PipTick CSI PRO MT5

This professional version of our indicator PipTick Currency Strength. Knowledge of the strengths and weaknesses of each of the currencies is very important for every trader, trading in the forex market. This indicator measures the strength of the eight major currencies (USD, EUR, GBP, CHF, JPY, CAD, AUD, NZD) with a few popular indicators. PipTick CSI PRO in an easy and accessible way shows a strong or a weak currency. Moreover, it shows, when the currency is overbought, pereprodannosti or “normal state”.

The indicator uses four ways to measure the strength and weakness of the currency.

• RSI – Relative Strength Index
• CCI – Index trading channel
• MFI – Index Cash Flow
• MACD – Convergence / Divergence Moving Average

Indicator calculates 28 currency pairs and runs on any platform MT. PipTick CSI PRO uses only 7 currency pairs to calculate the remaining 21 pairs. To work correctly, the indicator in MetaTRader platform, you must have only these seven pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, USDCHF and USDCAD.

interpretation of indicator

Since PipTick CSI PRO is based on the known indicators, its interpretation is very simple.

RSI

• oversold zone – CSI value is not more than 30
• normal zone – CSI value between 30 and 70
• overbought zone – CSI value of more than 70
• A strong currency – CSI value is greater than 50
• weak currency – CSI value is not more than 50

CCI

• oversold zone – CSI value is not more than 100
• normal zone – CSI value between -100 and 100
• overbought zone – CSI value is more than 100
• A strong currency – CSI is greater than 0
• weak currency – CSI value is less than 0

MFI

• oversold zone – CSI value is not more than 30
• normal zone – CSI value between 30 and 70
• overbought zone – CSI value of more than 70
• A strong currency – CSI value is greater than 50
• weak currency – CSI value is not more than 50

MACD

• A strong currency – CSI is greater than 0
• weak currency – CSI value is less than 0

Using PipTick CSI PRO

There are two basic approaches to trade on the basis of the strengths and weaknesses of currencies:

• Strong currency to buy and sell weak – trend trading. For example, if you see that the EUR strengthened and AUD weakens, buy a pair EURAUD. Do not trade if one currency is overbought / oversold.
• Strong currency selling and buying weak – trade against the trend. For example, if the USD is overbought and oversold JPY, sell USDJPY.

You can achieve excellent results by using the concept of overbought / oversold currency, together with price action or candlestick patterns. All you have to do is wait for any currency will not go down in the overbought / oversold area and will not appear candlestick pattern, such as a hammer or a shooting star. Of course, this is just one of thousands of possible ways to use the indicator of strength of currencies.

The indicator can be used for long-term, intraday, swing trading or scalping.

PipTick CSI PRO indicator can be used for manual testing history. You only need to set the “Bars_Ago = 0” in the display settings, and download historical data from seven currency pairs that indicator should be calculated.

Main characteristics

• The indicator shows the strength and weakness of the eight major currencies (USD, EUR, GBP, CHF, JPY, CAD, AUD, NZD)
• A simple comparison of one currency to another
• Four methods calculate
• overbought and oversold conditions for entry and exit
• It works on all timeframes (M1, M5, M15, M30, H1, H4, D1, W1, MN)
• The indicator is not redrawn
• Testing history (configurable period of history)
• Adjustable parameters (color, line thickness, periods …)
• Excellent results, together with an analysis of price action and candlestick patterns
• An ideal tool for scalping
• Very fast calculation
• It works on all timeframes

The information displayed:

• USD … NZD – CSI value of USD … NZD

Also available CSI PRO PipTick for MT4.

For more information, visit PipTick CSI PRO page.

Video

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