The installation of the Technical Analysis Package is required in order to access this indicator.
This indicator compares the value of a market with the current price of gold or the dollar index. This means that markets are placed in relation to the gold price or the dollar, whereby over- and undervaluation can be determined very well in instruments.
A low MarketValue means that a market is cheap relative to the gold/dollar index; vice versa, a higher value means that the market is relatively expensive.
In general, commodities should be compared to the gold price and financials to the dollar index. However, depending on the market environment, it may be useful to deviate from this rule.
The following parameters are available for the MarketValue:
CompareTo: select [Gold/Dollar Index] depending on which market the current symbol should be placed in relation to.
EMA1: this is a period that is necessary for calculating the data. If you do not have detailed information about how this indicator works, please leave this period on the default settings. (Default value = 21)
EMA2: this is an EMA period that is necessary for calculating the data. If you do not have detailed information about how this indicator works, please leave this period on the standard settings. (Default value = 3)
It is not yet possible to use the MarketValue indicator in the ConditionEscort, since a multi-instrument indicator cannot be depicted there. Since the MarketValue requires the price data from the current chart and also from gold i.e. the dollar index, this is a multi-instrument indicator, which, as mentioned, currently cannot be represented in the ConditionEscort.