The Body displays the data of the FXI - SingleTimeFrame indicator. The individual elements are as follows:
So one might ask, how could I use the FXI - SingleTimeFrame indicator? A totally fair question! We use, and suggest you use, the FXI - SingleTimeFrame as a filter for your other indicators and trading systems. The above image is a good example of how one might use the FXI - SingleTimeFrame :
You can easily see that the USDJPY recently has increased in value. The moving averages have crossed up and the USDJPY has increased from 90.15 to 90.85. But the qustion is whether this move is supported by how the USD is doing against the other majors compared to how the JPY is doing against the other majors.
The FXI - SingleTimeFrame shows that overall the USD is flat against other currencies, while the JPY is gaining significantly. This is represented by the 0.06% reading for the USD and teh +2.98% for the JPY. The -2.92% reading indicates that the USD should be losing against the JPY. This is divergent to the trend of the USDJPY itself.
We would predict that the next bar or two will be down bars and this prediction would affect whether we stay in a trade, exit a trade, go short, or reverse a trade.
This is but one way a trader could use the FXI - SingleTimeFrame indicator. There are many others and we look forward to sharing them with you and in hearing how you find the indicator useful.