DislikedClive, any chance your friend Ted would be interested in taking the currency strength meter I use in the upper right corner of my chart and converting it to measure the pairs? What I mean is that it currently measures the overall strength of a currency and gives it a measured number. What would be great would be to take these numbers and do the math on the pairs in order to see the difference between the currencies instead. I sit here and do the math in my head currently. SO for this chart, the EURUSD would measure 6.43 and the AUDUSD would measure...Ignored
Couple of problems with that is firstly he would need the source file to change the indy secondly he's not too keen to mess around with other guys programs because they all think differently and lastly not sure what exactly you're after?? If you're trying to work out the pairs with the biggest differential then thats easy its top 2 against bottom 2 so you can rank them like this for the example you gave:
EURUSD
USDCHF
EURAUD
AUDCHF
That gives you the top 4 pairs with biggest differential if you want top 9 include 3rd to top JPY and 3rd from bottom NZD remember you only want to be trading the top ranked pairs with the biggest differential so I would say the top 4 would be enough to choose from and just look for your setup in those 4 pairs. So is that what you're asking Ted to do just put a list up of the top 4 pairs to trade depending on their differentials???
I have the same setup with my currency strength meter top right of my screen and highlight top 2 and bottom 2 for that reason. They are the only 4 pairs I'm interested in when it comes to relative strength between currencies.
As I'm sure you're aware the problem with all strength meters and any indicator for that matter is they work from historic values so if something has been weak or strong for a while then its by definition in a state of overbought or sold so could reverse on you at any minute. However its a bit like my old timer trader Tom Long says if its trending down keep selling it until it ends... Same thing applys to currency strength meter sell or buy the strongest/weakest combination until you see price action or market structure to the contrary indicating its coming to an end, for me every time thats how strongly the last push up or down took out the previous push.
If you just clarify what it is you're after and provide the source file I will ask Ted for you...
Cheers Clive
Feel the Fear and do it anyway!!!