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Thread: Anybody know how to correlate 2 pairs on same price chart?

  1. #1
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    Anybody know how to correlate 2 pairs on same price chart?

    Hi guys, i want to know that does anyone knows how to pull the prices of two or more currency pairs on the single price chart for the correlation purpose.for example EURUSD and USDCHF price on the same chart for the correlation.If anyone knows please explain me?

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    Quote Originally Posted by Ashviniurs View Post
    True, knowing the dollar index certainly can be very much helpful for all the traders to determine the possible market direction of the respective currency pairs with the help of which one can be able to make some good gains when they are trading in the forex market. Thus, one should always use the correlated currency pairs to diversify the risk involved.
    If a trader wants to trade with JPY pairs then he will have to understand that JPY pairs also get effected with dollar index and USD data release, but the most uncertain pair in my view is USD/JPY, and that is flying nowadays without any support. Can you put some light on this matter?

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    Oh yeah guys its little bit hard to understand about this thread I think he is talking about currency correlation here I think we can't use any same chart to know about the currency correlation about euro/usd and usd/chf chart you have to check your both graph to make buy and sell in both pairs hope it will be helpful for you

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  4. #13
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    Choosing a good currency for trading is very important but as we can see in this thread that thread creator is asking about good correlation about currency pairs. I think as rina ji saying that you should check about Euro/jpy and chf/jpy for your answer personally regrading currency correlation I think best pair will be Euro/Usd and Usd/Chf

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    It is naturally in trading of the market that the correlation fits in. In the main trading deals, you will find the strength of the major pairs and cross relate them to one another, by that you will get the weaker ones and the strangers ones, you will now pair them with each other. This simple principle is really helping traders to earn more.

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    Quote Originally Posted by silverlady View Post
    It is naturally in trading of the market that the correlation fits in. In the main trading deals, you will find the strength of the major pairs and cross relate them to one another, by that you will get the weaker ones and the strangers ones, you will now pair them with each other. This simple principle is really helping traders to earn more.
    I have seen that the index of dollar and the data release impact market, if we want to see the Usd crosses then we will have to analyze the USDX first, because by seeing that index we can understand that how much USD may rise or fall, on the other hand we can see other pairs to see the counter part of USD, whether it will be weaker in next few hours or get stronger, is there any data release nearby or not.

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    Quote Originally Posted by vipuldevkar View Post
    Hi guys, i want to know that does anyone knows how to pull the prices of two or more currency pairs on the single price chart for the correlation purpose.for example EURUSD and USDCHF price on the same chart for the correlation.If anyone knows please explain me?
    You need indicator to show the 2nd chart on the main chart, for example your main chart is EURUSD then you need to attach indicator to show the USDCHF chart on EURUSD chart. Please look for an overlay chart indicator, so you can do this.

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    “Not everything that can be counted counts, and not everything that counts can be counted.”
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    Trader Hukam's Avatar
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    Mate I don't have much knowledge of this that how you can attach 2 charts within one trading chart I don't have even any script or indicator for that but if you will able to get any indicator about that help then for sure you can use that indicator which will help you to attach 2 pairs on same chart. I think its not much difficult to check 2 pair's price at all it will just take 1 or 2 minutes

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  9. #18
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    Sir I am not following this system till now I don't know how can I watch 2 pair in one chart. I am using single chart for my analysis I am still in learning phase so spending a lot of time only with Euro/Usd pair. I will try to know about this sir and if I will get any answer about this then I will share with you for sure

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  10. #19
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    i have no idea to combine two pairs at one pair, did you ever heard about this before, or you can try to make browsing and find more information about it, of course, it is good to try and if there is a way for this, and also you use eurusd dan usdchf where both of them will move opposite each other

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  11. #20
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    Quote Originally Posted by mehwishraheel View Post
    I have seen that the index of dollar and the data release impact market, if we want to see the Usd crosses then we will have to analyze the USDX first, because by seeing that index we can understand that how much USD may rise or fall, on the other hand we can see other pairs to see the counter part of USD, whether it will be weaker in next few hours or get stronger, is there any data release nearby or not.
    Well sir that's a good way to judge the usd pairs movement logic, you are right that we should learn about the usd index first, there are many fundamental news which take place every month in this business, along with it we should check about the USD index market trend also on long time frames for better result

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