OPEN-SOURCE SCRIPT
Carbon Triangle Oscillator
Updated
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 author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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.