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-   -   An indicator for the strength of a currency (https://www.forexfactory.com/showthread.php?t=925836)

Kosomolate Jul 3, 2019 12:53pm | Post# 101

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{quote} ...I do not find a promising way or strategy to trade currencies using currency strength.
Hi Rafei!

read more till yu get to this point... then yu can use this strategy
This picture is USD bunch rolled up in one and can be traded just like a single pair

kos
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Kosomolate Jul 3, 2019 1:04pm | Post# 102

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JPY Daily TF
All the tools and even the EA to create the charts are here in FF, dig a little deeper

kos
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Kosomolate Jul 3, 2019 1:06pm | Post# 103

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H4 JPY

kos
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Kosomolate Jul 3, 2019 1:11pm | Post# 104

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and finally this is M30 USD

what a beautiful way to trade this basket bunch. pls dig deeper, all tools here in FF

kos
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Kosomolate Jul 3, 2019 1:18pm | Post# 105

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AUDJPY, GBPJPY, EURJPY rolled up into one

kos
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thisara1 Jul 3, 2019 1:45pm | Post# 106

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{quote} Very good dear thisara1, Please give us your feedback and tell us about your method of using Currency Strength indicator, if is possible. Thanks. Good luck.
sure looking great me
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Rafei Jul 3, 2019 3:44pm | Post# 107

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{quote} Hi Rafei! read more till yu get to this point...
Hi dear Kosomolate,
Remarkable view from your application of trading currency baskets. This is what I was first looking for, trading a currency. I also created an EA for trading multiple pairs as fast as possible, here is a view of my multiple pairs trading EA:

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Anyway, thank you very much for your figures.

Would you mind please refer us to some threads in FF about trading currency strength similar to yours?

Rafei Jul 3, 2019 3:48pm | Post# 108

{quote} sure looking great me {image}
What an interesting view from the indicator. Thanks a lot for your picture.
You presented a nice application of currency strength.
Please send more pictures of your trading positions using this indicator.


Rafei Jul 3, 2019 4:08pm | Post# 109

{quote} sure looking great me {image}
I see that you have used 1% threshold for making decision. Please share your experience about using this threshold in trading.

Thanks.

thisara1 Jul 3, 2019 4:29pm | Post# 110

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{quote} I see that you have used 1% threshold for making decision. Please share your experience about using this threshold in trading. Thanks.

very simple never hard
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thisara1 Jul 3, 2019 4:35pm | Post# 111

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Rafei Jul 3, 2019 4:52pm | Post# 112

{quote} very simple never hard {image}
Excellent.

Rafei Jul 3, 2019 4:52pm | Post# 113

{image}

thisara1 Jul 3, 2019 11:21pm | Post# 114

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choppy market asian session
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energyliger Jul 4, 2019 12:41am | Post# 115

{quote} Dear energyliger, Hi. Thanks for your indicator and description. There are many possibilities about creating such an indicator. But, the base formula is the same as the indicator presented at the first post. Sorry, but I can not help in this case. I know that you can use the output of the indicator and create your own calling this indicator. Good luck.
Thanks Rafei for the reply
That indicator is being used in PiranhaProfits (one of the best online FX learning school) and they are using the currency strength in the attachment to filter out high probability trades (you can download the file as attached)

Im still trying to figure out the exact formula that they are using so I am able to replicate the success and use it in my EA (Already contact the Piranhaprofits admin, but b*stard refuse to share the formula to the students even though we pay huge sums to learn FX from them). Also, the currency strength is not even created by them, they download from mql5 web from an author called ziheng zhuang, then they replicate it exactly from his formula

Thanks for the good info that you share, maybe you have any other important information that you can share again regarding how to create the more accurate Currency Strength?

Rafei Jul 4, 2019 12:54am | Post# 116

choppy market asian session {image}
Thank you for the pictures and analysis.

Rafei Jul 4, 2019 1:32am | Post# 117

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{quote} ... from an author called ziheng zhuang, ...

Hi energyliger,
I found the mentioned author, ziheng zhuang, and the page for the currency strength (he calls it Currency Relative Strength):

Currency Relative Strength

{quote} ... maybe you have any other important information ...


Thanks for your comments, I think that here are more experienced traders who can help more. I have created a candlestick view of USD strength (Currency Strength Indicator) for trading Gold:

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Although I believe in trading a currency as a basket, I think that the method of trade using Currency Strength Indicator stated here and by thisara1 here is more reliable.

Ican2020 Jul 4, 2019 11:44pm | Post# 118

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You are doing a great here and thanks for the efforts/

Pls, adding currency names to your indicator as mark in below will be nice
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Rafei Jul 5, 2019 2:46am | Post# 119

You are doing a great here and thanks for the efforts/ Pls, adding currency names to your indicator as mark in below will be nice {image}
Thank you for your feedback.
Early, it is a bit difficult to work with the indicator, but after a couple of days, you memorize the colors. However, I will add the colored notes. In addition, I am adding the session indicator.

Rafei Jul 5, 2019 6:55am | Post# 120

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OK guys,
I have created the new version of the Daily Currency Strength indicator. The new feature are:

  1. Session indicator is added. The symbol, level, width, and color of the session signals can be changed. Setting the level to 0 will hide the session signal.
  2. Currency labels are added. Font size, corner, and location of the labels can be changed.
  3. The indicator shows the signals of the current pair and does not calculate the others. This helps the speed of the indicator. Also, the user can enable the calculation of the other currencies.
  4. The option of adding prefix and suffix to all pairs is included.
  5. The indicator is designed for faster speed and lower memory.

Here is a view of the indicator:

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Some views of indicator input parameters:

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Thanks for your feedbacks.

Daily Strength V 2.00



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