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currency strength meter for daily chart 2 replies

Individual Currency Strength indicator 1 reply

FXGrail - currency strength correlation 2 replies

Derived Currency Strength Indicator from multiple pairs 0 replies

Attachments: (binned per thread starter's request) Currency Strength with cont
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(binned per thread starter's request) Currency Strength with cont

per request this gentleman translate from lua to mt4 this correlation tool, ok, TV charts itīs fine but nice to have alternative in mq4 language.
fxcodebase.com/code/viewtopic.php?f=38&t=68601
Please can anyone help with the RSI for individual currency, it will be of great help to me and many others here. With it you can determine the strength of each currency before pairing them.
  • Post #2,263
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  • Edited Jun 27, 2019 2:09am Jun 26, 2019 8:22pm | Edited Jun 27, 2019 2:09am
Quoting Jozec
Please can anyone help with the RSI for individual currency, it will be of great help to me and many others here. With it you can determine the strength of each currency before pairing them.
I wrote the Recent Oscillator Strength (ROS) indicator several years ago. I'm currently too busy to make any modifications, so it's offered on a "take it as it is, or leave it" basis. You'll find more info here [https://www.forexfactory.com/showthread.php?p=7171508#post7171508], although this is out of date now (for example, nowadays it can now plot RSI or CCI instead of Stochastic), so I've attached the latest version that I have below. Hope it's helpful.

[EDIT] The setting RSI,14,0 plots a RSI(14,close) composite for each currency. Unlike Recent Strength, the currencies, and the pairs used in the consolidations, are locked to the 28 combinations involving the 8 majors (AUD,CAD,CHF,EUR,GBP,JPY,NZD,USD). You can't plot other currencies, metals, indices, cryptos etc, and I won't be modifying the indicator, so please don't ask.
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Attached File
File Type: ex4 ROS.ex4   43 KB | 134 downloads
I have left FF. Please don't expect replies to your posts.
Quoting hanover
{quote} I wrote the Recent Oscillator Strength (ROS) indicator several years ago. I'm currently too busy to make any modifications, so it's offered on a take-it-or-leave-it-basis. You'll find more info here [https://www.forexfactory.com/showthread.php?p=7171508#post7171508], although this is out of date now (it can now plot RSI or CCI instead of Stochastic), so I've attached the latest version that I have below. Hope it's helpful. {file} {image}
Thanks Hanover.
Quoting hanover
{quote} I wrote the Recent Oscillator Strength (ROS) indicator several years ago. I'm currently too busy to make any modifications, so it's offered on a "take it as it is, or leave it" basis. You'll find more info here [https://www.forexfactory.com/showthread.php?p=7171508#post7171508], although this is out of date now (for example, nowadays it can now plot RSI or CCI instead of Stochastic), so I've attached the latest version that I have below. Hope it's helpful. [EDIT] The setting RSI,14,0 plots a RSI(14,close) composite for...
Thanks Hanover.
I opened AUDCAD & NZDCAD shorts based on this strategy today.
Pity the thread has gone so quiet with Neil not here anymore - I learned so much by just reading through the posts on the thread - THANK YOU NEIL & other main contributers here.
What is moving the market?
...and, on my radar GBPCad short & EURGBP long.
Would any of the main contributors care to comment on my choices?
What is moving the market?
Thanks Hanover, I got everything working! Now collaborating info to my trades. I am trying to not re invent the wheel and just adding this threads trading concepts to my trading style. I am fundamentally EUR bearish. I am Fundamentally Bullish CAD for reasons such as Iran tensions. This is my opinion that in picture below- Retails Longs are exiting and exhausted for long period of time and additionally measure of volume. I see Retail shorts slightly possibly adding volume as we see the Longs declining, this may suggest in my opinion that this may be start of consolidation or for a move higher or lower in future. So my Fundamental analysis + my Technical analysis + myfxbook sentiment may help me with my bias of shorts. If it fails (%50 it may) then back to the drawing board to see another opportunity. And this is front running the CAD BOC rate decision , so will be interesting!
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Added a 2nd short, after crude inventories positive for CAD, as demand is up or supply is less. I would like to see retail (EURCAD) longs volume move higher to confirm my short fundamental&Technical Bias is on the path of profits. Or can simply be wrong at shorts at this price and fall victim of a retail trader wrong direction. I just need to take a small loss and all good! I have been reading through the thread to learn the method. It looks like there is a Currency strength and RSI exercise that I should employ to see if it fits with my strategy/method
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After reading through threads, I have some questions and havnt fully understand how to use RSI/2 and currency strength. I need to do more research and reading. I personally use USD strength and not used Gold. SO that is very interesting to me. I want to explore more with this technique. I have always used ema distances from price for strength or finviz.com.
My 1st short closed for -0.34 cents to reduce exposure/risks. And I decided to move 2nd short to Break even in hopes trend will continue. Retail Long is picking up steam on Long % because less volume in shorts and Longs, so this may be a good sign for the contrarian method!
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As long as we're talking about trading against the herd, here's a theory I'm testing out.

https://www.forexfactory.com/showthread.php?p=12369233#post12369233

It is more profitable to trade against the sell-side 'experts' than it is to trade against general retail traders. As Hanover has pointed out and I believe it's true since you can see it in real-time if you use the myFXBook Outlook tool on M1/M5, retail flows lag behind price (yeah, sorry not sorry, FractalFreak). Price is what makes people and robots enter/exit so while it's almost always advisable to be in the minority of a trade, the most profitable trades in which to be a minoritarian (made up word) are the ones where the sell-side industry has something it wants to unload for whatever reason(s).

Think about a shopkeeper. What products are advertised/put on sale/reduced by 50%/buy now! etc.
It's not the brand new top-of-the-line inventory, it's whatever needs to get pushed out the door to make room for the new.

Following that theory gave some confirming heft to my long Euro/GBP trades last week that had very little technical support, otherwise. The media wailed about the dire condition of the EU and up went the Euro. After all, how else are you going to unload an excess of USD when the EUR has been dropping for weeks?
Attachment 3385082

So far it looks promising but I need a couple more aggregated sources to track to be really scientific. Does anyone know of a site like FXStreet that gathers together pundit polls? There must be one on Twitter or something but I'm not very active on social media. I'm sure I knew of one that collected bank forecasts but one problem with banks is they publish quarterly/monthly at most, so not very many data points.
Quoting clemmo17
As long as we're talking about trading against the herd, here's a theory I'm testing out. https://www.forexfactory.com/showthread.php?p=12369233#post12369233 It is more profitable to trade against the sell-side 'experts' than it is to trade against general retail traders. As Hanover has pointed out and I believe it's true
I'm getting obsessed with reading your posts clemmo17 !

Yes Im still here..... I'm not in jail for insider trading and Barclays are still as friendly as ever.... :-)
The most violent element in society is IGNORANCE
Quoting jusiur
...... Back to the initial topic, interesting app I found but it bothers me not to know how they get the data: {image}
With the observation of several days I am noticing that the application "Forex Sentiment" replicates the data from myfxbook community outlook, it is a shame, I thought they got the sentiment of their own source.
?
Gilead Linear CSM 2.0
{ copyrighted content deleted by staff }
For Mcquak (https://www.forexfactory.com/mcquak). EURGBP linebreak 1 chart set on daily timeframe. Don't use tradingview for the linebreak charts as they don't update in real time like the renko charts don't if you have them on daily charts. For example if you have a one hour linebreak chart on tradingview it will only update once per hour. MT4 is in real time.
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The most violent element in society is IGNORANCE
Quoting neilsdigest
For Mcquak (https://www.forexfactory.com/mcquak). EURGBP linebreak 1 chart set on daily timeframe. Don't use tradingview for the linebreak charts as they don't update in real time like the renko charts don't if you have them on daily charts. For example if you have a one hour linebreak chart on tradingview it will only update once per hour. MT4 is in real time. {image} {image}
Yes, that's right. I completely forgot it's "continuous" process.

I just made a quick check of my data myfxbook history I have been sampling every 10 minutes (having stored data in Azure cloud).

E.g. EURCHF
1st is chart from Dukascopy platform (it's very flexible platform, allows showing Daily RSI on 15 minute chart amongst other great things )
2nd is my database in Azure, showing snapshot from 2019-07-18T01:30:00 (so the same time as the chart) when Longs overcame 80 hurdle.
3rd we are being watched! Expecting new defamation article on wordpress mate.
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All models are wrong, but some are useful.
Quoting hanover
{quote} Gotcha! This is obviously a pirate (renamed) copy of the Recent Strength indicator (www.forexfactory.com/showthread.php?t=163158). Even the colors of the plots are (almost) identical. I challenge you to post the mq4 file here, to prove otherwise. Gilead indicator:{image} ROS (Recent Strength):{image} The disclaimer message in the RS thread is clear. Piracy is theft. I have reported you for copyright infringement; the link to the tinyurl is now blocked. I have also reported your post to Forex Factory. Sorry, but you don't...
Always some low life around to profit from things. Glad you reported it. Link deleted.
The most violent element in society is IGNORANCE
Quoting mcquak
{quote} Yes, that's right. I completely forgot it's "continuous" process. I just made a quick check of my data myfxbook history I have been sampling every 10 minutes (having stored data in Azure cloud). E.g. EURCHF 1st is chart from Dukascopy platform (it's very flexible platform, allows showing Daily RSI on 15 minute chart amongst other great things ) 2nd is my database in Azure, showing snapshot from 2019-07-18T01:30:00 (so the same time as the chart) when Longs overcame 80 hurdle. 3rd we are being watched! Expecting new defamation article...
I will have a look over it later. Thanks for posting.

Take no notice of the stimpy sad loser... He even started naming Hanover in his daily blog.

What gets me is the latest article is this still doesnt work and I have to get others to help me.

The truth is if he stopped his low life crap I wouldn't even come here. Wouldn't post. Just get on with my life and have fun.. Most of the time I post just to get him mad.

Just a sad loser who got banned.... Now if people read his crap why don't they post here. The only comments he gets through his blog are mine threatening him lol

He has reported me to barclays, the FCA and the police through only a made up silly gmail address. Very professional hey. No real website. Hides behind his keyboard like all phycho trolls do. All trolls hide because they are lifes losers.

He even sent a email to an email address I don't use except for spam and asked for my name, full address and phone number saying he was from Forex scam busters lmfao...

He states my spelling and grammer are terrible.... I KNOW IT IS... WHY? Because I type really fast when here so I can go get on with my life. Its the info that matters not the grammer. I learnt something new here from an Indian guy who couldnt hardly write English. His advice was top notch though.
The most violent element in society is IGNORANCE
Quoting jusiur
{quote} With the observation of several days I am noticing that the application "Forex Sentiment" replicates the data from myfxbook community outlook, it is a shame, I thought they got the sentiment of their own source.
They all use myfxbook data through the API.
The most violent element in society is IGNORANCE
AS posted by Veefx. He has done it. I will do it..

All quotes and image posted by veefx

"Quote" - Steps to permanently Quit posting on FF: For those who are addicted to forums....

  1. Go to your Profile and Change your email address to something junk
  2. Change your password to something long garbage 25+ characters or have your wife enter one for you lol
  3. Go to every device and delete browser cache and cookies. Now you are truly in a READ-ONLY MODE. There are ways to completely block FF.com url but let's not get in that :-

That will force you to end your posting career on FF as you wont be able to do a password reset yourself unless you go begging to Twee.

As I have repeatedly said, I am a professionally trained expert in finding flaws and inconsistencies around me. Folks focus on seeing what is being shared and I focus on what is NOT being shared and I am very good at it. I am paid very handsomely compensated in the real world for doing things that many around me simply can't.

It's half a year midpoint and time to focus on what's important in my life. Posting is no longer an activity I wish to continue to kill my boredom.

Adios!

"end quote"

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