- alert a trader when a pair begins to move above 0.15% on the D1 timeframe,
- after a pair stalls and pulls back, and starts to move again, a new alert will be generated based on this new movement on the H1 or H4 timeframe when it moves 0.15% from the new low (since the initial alert was generated on the D1 timeframe for the daily movement) and
- another alert when the 1st alert in (1) above is exceeded on the D1 timeframe - that is, when a new high is made for the day.
- a new alert if the pair begins to move in the opposite direction by 0.15% from the opening price.
Now to what can be done with this indicator and how I use it. The indicator highlights:
- The currency pair(s) that is moving the "most," which traders should focus on
- The direction of the trend for the session - up or down
- By what percentage the pair has moved for the day (on the timeframe highlighted)
I am an intra day correlation or should I say, strength/weakness currency trader and trade with the intermediate trend. I wait for the pair of interest to move a minimum of 0.15% on the day before considering that pair if supported by the currency strength meter. This indicator helps to identify the currency pair that is moving the most, especially when you have more than one currency showing strength or weakness. I don't have any loyalty to any pair and therefore trade any pair showing strength.
Thanks, and God bless
George
Low Risk Low Stress High Reward High Probability Trades