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Currency strength indicator at 5 min time frame

  • #21
  • Jan 30, 2019 4:52am Jan 30, 2019 4:52am
Quoting rover99x
{quote} Sorry but you're wrong, currency strength indicators are after the fact, it's no better than entering a long on an up bar or entering a short on a down bar! Don't waste your time........... Concentrate your efforts on managing your trades and where you exit, that's what gives you an edge not playing around with indicators Currency strength indicators, in fact any indicator is purely an illusion and gives false hope!
I agree with you for the most part, however there is one way that you can make (some) use of a currency strength meter. That is by looking at those away from the top strength. That is, look for the pairs that are beginning to show strength / weakness. Play them against each other in the chance they may be about to move to the top bottom of the list.

I played with this for a while and it does work - though admittedly I also used other analysis on top of that, none of which relied on indicators, making it only a part of the whole method.

I should say that I don't use it any more.
  • #22
  • Jan 30, 2019 6:18am Jan 30, 2019 6:18am
Quoting rover99x
{quote} Sorry but you're wrong, currency strength indicators are after the fact...

hi rover99x

the big majority of traders entries, if not all of them, will be after or before the fact.

taking, for example, the USDCAD move today. the high of the day, until now, in the terminal i'm looking at, was at 1.3280. if you short at 1.3279 you will be in a "after the fact trade", you won't be catching the move since the beginning, although you would be catching a good part of it.

i'm just saying that this aproach shared by mlaci65 is, for me, a good way to see how the things are flowing, and then go or not with the flows.

for example, like in some of the pictures that mlaci65 posted, if you see that every single pair of a currency is start to weakning and other currency is getting stronger, there is a chance that you can get a good trade, based in the flows you are seeing.

it won't be an 100% sure thing every single time, you won't catch the move since the beginning, but there's a good chance of making some pip's.

just that (:

have a nice day / week

luís
  • #23
  • Jan 30, 2019 12:24pm Jan 30, 2019 12:24pm
Quoting luisinho
hi Mlaci65 (: ... to balance things a little bit... i wanna thank you for sharing with this forum community the way you deal with this currencies market thing. seem's to me that you have a good aproach, identifying strengh / weakness and then go with the observed flow. although it won't be a 100% sure thing every single time, sometimes stop loss will be activated, i'm sure that you are catching good moves with this aproach. all the best (: have a nice day / week luís
balance things a little 0.01lot* 3523=$$$
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  • #24
  • Jan 30, 2019 1:49pm Jan 30, 2019 1:49pm
Quoting thisara1
{quote} balance things a little 0.01lot* 3523=$$$ {image}
those results looks good,

if you are getting those pip's with a currency strengh analisys strategy like you said some post's ago, that you use that type of analisys, it only reinforces the idea that someone can achieve good results with that kind of aproach.

(:

have a nice day / week

luís
  • #25
  • Jan 31, 2019 3:43am Jan 31, 2019 3:43am
Hi everyone!

My system watches this many currency pairs, so that we can safely assume the direction of the currencies. The data always comes from the present, not from the past.

Let's look at this picture. At that day looking after the trendlines, we can conclude that the CHF is weakening. On it's own this information is not enough. We have to find another currency which shows this much of trend in the opposite direction, and with the same strenght.(I mean that most of the pairs where that currency is in shows that currency is strenghtening.)

In my system i search these opportunities where the currencies show the most contradiction, so the direction i am betting money on, is established with the most information i can get.

With these precautions we can determine the big trends, the trends that are set by the big national banks. From the picture we can assume that it's the Swiss National Bank's interest to weaken their money, and it would be stupid to bet against them.
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  • #26
  • Jan 31, 2019 3:59am Jan 31, 2019 3:59am
Hi everyone!
Is happening now. Someone has an interest in strengthening JPY
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  • #27
  • Jan 31, 2019 3:07pm Jan 31, 2019 3:07pm
Quoting lemercenaire
{quote} I agree with you for the most part, however there is one way that you can make (some) use of a currency strength meter. That is by looking at those away from the top strength. That is, look for the pairs that are beginning to show strength / weakness. Play them against each other in the chance they may be about to move to the top bottom of the list. I played with this for a while and it does work - though admittedly I also used other analysis on top of that, none of which relied on indicators, making it only a part of the whole method. I...
nothing wrong with incorporating CSM....
but then a change in the trend (of strength) can be just as easily detected with the "old" spaghetti way.
once in a while its 0-9 numbers even tent to hit the extremest end, 0 or 9....and arguable from the top(or bottom this case too) there is sooner or later only one way to go, even if temporarily.
not that different from any oscillator, is it?

PS.
Laci, ha neked mukodik, akkor teljesen mindegy masok mit gondolnak, hasznald egeszseggel. elso ranezesre vannak egyszerubben ertelmezheto indikatorok is erre a celra, ingyenesen. jo kereskedest!
there is always, always another trade!!
  • #28
  • Jan 31, 2019 3:58pm Jan 31, 2019 3:58pm
CSM is a great way to show previous history.
A current overall market direction can be deduced from CSM but its very difficult to reliably trade with it as a standalone indicator.
  • #29
  • Feb 16, 2019 3:29am Feb 16, 2019 3:29am
Hi,

this is what my table suggested yesterday
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  • #30
  • Last Post: Feb 16, 2019 5:37am Feb 16, 2019 5:37am
All positions according to the table instruction
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