[Eric Johnson]

Indeed, the concepts behind comparing price movement and separation are tricky to conceptualize.
A random note of importance, I see that the forex .com has changed their extensions again. I redid many of the indicators to not have the FXF extension in it, but the profiles also needed to be redone. It is a work in progress, as I want to run all of these on oanda. The forex. com version is MT4 build 225, and it still works and has live feeds if you can get a download of it. I will post the new profiles and indicators when I get back to that project.
Referring to our charts, I can see that you are using a version of the JM variance that is different than the one I use. The important thing to consider is to look into the code and see if it auto samples the "week open" prices. In my versions (EJV) it does not, you set these fixed prices to the comparison level you want to use for that pair.
Allow me to rephrase this important concept. For me to measure pip difference expansion, I need each pair to have a fixed price that it moves from. This is the "Week Open" value in my EJV version. You can see from my JPEG that I set the value of the USDCAD to 1.22 (P1). This is not the current market price, I put the fixed price at that value to center the highs and lows of the chart for the last 3 years. For the AUDCAD I set the fixed value at 1.04 (P2).
Now I have values to use as set references for expansion and convergence. Also I can set the scale factor to keep the historical highs and lows on the chart. I can see your attachment looks different, because you are zoomed way in (scale factor). This pair has wild swings, so I am zoomed way out. I would rather see historically adjusted zoom out, than be in a trade from a zoomed in chart, and have the price expand off the chart and lose hundreds of pips. There are better pairs to trade, that when zoomed out keep better ranges and expand and contract more often.
Also you need to be careful about the upper and lower pair when trading. If you do not have a clear method as with the EJV (higher price is P1) , then you can mess up order direction. You will see with rescaling overlays (or autosampling indicators) that the lines can switch from upper to lower position by themselves (even chart indent can do this). Especially for the USDCAD and AUDCAD because they are so close in actual price.
Also I am not sure if you are aware of the measuring tool in Metatrader. Once you activate the crosshairs, if you click and drag between 2 points on a chart, it will give you a horizontal and vertical value. This can be read with some practice , due to the digits used , but it can give pips.
I attached a copy of the EJV I use. Progress is profit, thankfully so many tools are free.

[Eric Johnson]

Today a quick and half baked post. Here is the progress on the hourly and ( 5 minute) line overlap charts. They are the same as the original ones described and previously posted for the FXF forex. com platform. The change is that they have been recoded for any normal platform like oanda that carries so many exotic pairs.
To preserve the profiles that grouped pairs together for correlation value, I could not change the indicator name, just the code. Also when I put them on the new platform, the colors were all one default color. So I got half of the colors back to individual colors. This is a work in progress, it has been a while since I have even opened these zipped folders. I still can use the old FXF platform, but it may be hard to download this outdated platform for others.