NexusFi: Find Your Edge


Home Menu

 





Multicharts Custom instrument


Discussion in MultiCharts

Updated
    1. trending_up 1,496 views
    2. thumb_up 0 thanks given
    3. group 1 followers
    1. forum 0 posts
    2. attach_file 0 attachments




 
Search this Thread

Multicharts Custom instrument

  #1 (permalink)
 
Evangelos's Avatar
 Evangelos 
Athens, Attika, Greece
 
Experience: None
Platform: Multicharts
Trading: Nothing yet
Posts: 5 since Oct 2018
Thanks Given: 1
Thanks Received: 4

Hello guys!

I would like some help here. Is there a way to create a new custom instrument in Multicharts which updates real time based on calculations on regular instruments?

And let me explain because it sounds complicated.
I want to create a real time volatility index for various FX pairs. It's an idea I got from Ivan of Global Prime. The concept is that you take the real time price of EUR/USD for example and divide it by it's value to get an initial value of 1. And then, depending on it's fluctuations, you get your "volatility index". The problem I come up with, is that I want to make a sum of 7 euro pairs. I want the euro against USD, JPY, CHF, GBP, CAD, AUD and NZD, divided by their values and added up to a main instrument with initial value of 7. The formula to get this result in tradingview is this one:

"FX:EURUSD/1.2208+FX:EURJPY/126.66+FX:EURGBP/0.8932+FX:EURCHF/1.0818+FX:EURCAD/1.5519+FX:EURAUD/1.571+FX:EURNZD/1.6891"

resulting to this chart:


And I want to apply the same principle to all the other 7 currencies to have a real time currency index.

So to sum up, I would like to somehow, take the real time price of 7 instruments, divide them with their initial value for the week( as an input I guess to update it regularly), and them up together. Then plot a chart or an indicator with initial value of 7 or in case of PCT change, zero.

Any help is most welcome, hope I made my myself clear and did not confuse you...

Started this thread Reply With Quote





Last Updated on January 12, 2021


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts