rumbaut replies to: USDLFX Offline Chart Creator EA

Math,

Firstly, thank you for a very, very valuable tool!

Secondly, please tell me straight if my suggestions are out of line based on the hard work you’ve put into this EA.

My suggestion is mainly based on the “wicks & ticks” issue, but also on the fact that only one EA is allowed on a chart, hence 8 EURUSD charts with 8 EA’s as well as 8 offline charts to view all LFX’s (not that you want to do that necessarily…), just some serious admin work. And that is still all in one TF…

Please tell me if I’m wrong, but an LFX chart would basically be the same as a basket chart of the combined pairs of a specific currency, but with some pairs inverted to compensate for the base/quote differences, right?

If so, why not take an offline basket creator indicator like this…

Attached File

File Type: mq4Basketv8 C5 C8 C14.mq4   16 KB | 104 downloads

…and use the logic in an indicator like this (where pairs can be inverted)…

Attached File

File Type: mq4Multipair_Average_Indicator C14.mq4   5 KB | 100 downloads

…to create an LFX Indicator instead of an EA?

Unfortunately, I have absolutely no coding experience whatsoever, so I’m not able to do it myself. I did change the Basketv8 indi though to include the C8 basket that GVC trades and some other baskets that I don’t trade. A big thank you to GVC for modifications made to the above 2 indicators in Kosomolate’s Still Basketting thread.

For those who want to see it at work, you can attach the Basketv8 indicator to any chart of any time frame (but preferably a pair with high tick rate like GBPJPY), select your basket number (5, 8 or 14) and the TF and then open the offline chart just as you normally would. Now, for example, if you want to generate the M15, H1 and H4 charts of the C8 basket, you drag 3 instances of the Basketv8 indi into the same chart and just change the settings to the different TF’s. The Multipair Average indicator must be placed on an online chart – it doesn’t work on an offline chart. I normally place both indi’s in the same chart.

This is a suggestion to possibly streamline the LFX charts and not to introduce a new direction of this thread. There are hundreds of posts in the basketting threads about these and other indicators, so please don’t bomb this thread with questions if you don’t understand these indicators and what they do.

Cheers,

Lee

Fix your thoughts on what is true, and honorable, and right, and pure…

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