OPEN-SOURCE SCRIPT
Updated Carbon Triangle Oscillator
This is a variant of the Awesome Oscillator that can show the realtionship between three instruments at the same time.
I created this primarily for currency trading where a Currency Triangle is an arithmetic relationship between three currency instruments.
Example: GBP/JPY = GBP/USD * USD/JPY
By viewing the reationship between a currency instrument of interest and two of its component instruments,
we may be able to discern patterns that lead to profitable trades.
This script uses the current instrument on the chart as the foreground line plot,
and the other two configureable instruments as two overlaid histograms behind.
Enjoy!
I created this primarily for currency trading where a Currency Triangle is an arithmetic relationship between three currency instruments.
Example: GBP/JPY = GBP/USD * USD/JPY
By viewing the reationship between a currency instrument of interest and two of its component instruments,
we may be able to discern patterns that lead to profitable trades.
This script uses the current instrument on the chart as the foreground line plot,
and the other two configureable instruments as two overlaid histograms behind.
Enjoy!
Release Notes
Republished with a clean chart.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.