Overlay

Overlay Indicator

Multi-Market Perspective with Structural Clarity

The Overlay Indicator is designed to give traders a broader market perspective by overlaying multiple currency pairs onto a single chart. By combining price action, zigzag structure, and relative movement, it helps traders identify correlations, divergence, and key turning points more effectively.

Key Features

1. Multi-Symbol Overlay Analysis
2.  Overlay multiple instruments (e.g., USDCAD, USDCHF) directly onto your current chart to compare price movement and market behaviour in one unified view.
3. ZigZag Market Structure Mapping
4.  Built-in ZigZag functionality highlights swing highs and lows, making it easier to visualise market structure and identify trend shifts.
5. Cross-Market Correlation Insight
6.  Observe how different instruments move relative to each other—helping you detect confirmation, divergence, or early reversal signals.
7. Customisable Visual Settings
8.  Fully adjustable colors, symbols, and display settings allow you to tailor the overlay for clarity and your specific trading style.
9. Live High-Low Distance Tracking
10.  Displays key metrics such as largest price distance and movement differences, giving additional context on volatility and expansion.
11. Center Price Reference
12.  Option to plot a central price level, helping traders understand how far price has deviated from its mean or equilibrium.

How It Works

The Overlay Indicator maps selected instruments onto a shared chart by aligning price movement around a common reference point (center bar).

1. This allows you to compare relative strength, direction, and structure across multiple markets.
2. The ZigZag component simplifies price action into clear swing points, making trends and reversals easier to interpret.
3. Additional metrics such as high-low distance further highlight expansion phases and potential imbalance in the market.

Why It Matters

Markets are interconnected. Single-chart analysis often limits visibility, while the Overlay Indicator helps traders see how different instruments behave together.

By combining:

1. Structure (ZigZag)
2. Correlation (multi-symbol overlay)
3. Context (distance & center levels)

…it provides a more complete framework for decision-making.

Best For

Traders who want to:

1. Analyse multiple currency pairs in one view
2. Identify correlation and divergence opportunities
3. Improve market structure reading using ZigZag
4. Add context to price action beyond a single chart