Relative Charts 1.1
Metatrader Indicator (MT4/MT5)
The Relative Charts indicator creates a mean-reversion chart using a moving average as a reference, effectively detaching ourselves from the changing value of fiat currencies.
- Get a mean-based view of the market
- Find real overbought/oversold situations easily
- Isolate your perception from the changing value of fiat currencies
- The center line represents the moving average
- Your imagination is the limit with this indicator
- Customizable chart period and bollinger bands settings
This indicator is especially useful to trade assets denominated in fiat currencies -like commodities, shares or stock indices- because the value of these currencies is not stable over time, rendering long-term technical analysis unreliable.
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Chart Period
- The period of the moving average to use as a reference. Recommended values are 50 (short term), 100 (mid term) or 200 (long-term).
- MA Period
- Period for the Bollinger Bands indicator.
- Deviation multiplier for the Bollinger Bands indicator.
- Does the indicator repaint?
- No, it does not. Once a bar closes, it will not repaint.
- How can I trade it?
- Look for longs when the price is below the center line and the lower bollinger band. Likewise, look for shorts when the price is above the upper bollinger band.
- Does the indicator implement alerts?
- No, it does not.