This time we would like to introduce one of the tools available on our trading server, called Pair Evaluation Alert.
This addon tool is FREE for VPSTrading.net users.
Pair Evaluation Alert is developed using MQL4 programming (running on the MetaTrader 4 platform) which analyzes 28 currency pairs with the purpose of generating a currency score. Currently, the currencies analyzed by this tool are USD, EUR, GBP, JPY, AUD, CAD, CHF and NZD. The purpose of developing Pair Evaluation Alert is to help you identify the most suitable currency pairs to trade.
Pair Evaluation Alert works by evaluating currency scores based on the Moving Average indicator and comparing all pairs that contain the 8 currencies mentioned above. The result will be displayed as a score ranging from 0 to 7.
0 represents the weakest currency and 7 represents the strongest currency.
Fig1. Pair Evaluation Helper Dashboard Display
Currency Score Notification Feature from Pair Evaluation Alert
This tool is equipped with an alert delivery function using Webhook API Notification. If you are using our Webhook Automation service, you can connect your Webhook so that updated currency scores can be sent directly to WhatsApp or Telegram according to the delivery mode you have registered.
The Webhook API Notification URL can be entered in the 'inputs configuration - End point alert Webhook' section as shown in the image below:
Fig2. Webhook Notification URL Input Configuration
Once this tool is integrated with your Webhook URL, the system will automatically send the latest Currency Score updates to your WhatsApp or Telegram account that has been registered in your Webhook API Automation service.
Fig3. Pair Evaluation Alert successfully integrated with Webhook will display the message Congratulation, your alert ready to work!
Example of Pair Evaluation alert messages sent to WhatsApp & Telegram:
Fig4. Pair Evaluation Alert Message in WhatsApp
Fig5. Pair Evaluation Alert Message in Telegram
By knowing the scores of the 8 currencies above, you will gain insight into which currency pairs may be suitable for trading. For example, GBPNZD could be considered because GBP has the highest score as the strongest currency, while NZD has the lowest score as the weakest currency.
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