Athens, Attika, Greece
Experience: None
Platform: Multicharts
Trading: Nothing yet
Posts: 5 since Oct 2018
Thanks Given: 1
Thanks Received: 4
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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...
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