Trading correlation pairs by using the other pairs

Quoting Shabs19

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{quote} It's more to do with when different markets open & close, H1 is easier to track, Higher TF's is not so easy. Just my tuppence worth.

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Quoting MQLTrade

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Updated Daily Correlation {image}

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Quoting havo

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Triad trading.. great technique to spot a strong vs weak currency and filter the best one to buy/sell (you only pick the strongest signal/more clear unbalance signal and ignore the rest), i actually use it between eur/usd/chf Highly effective if you know how to do it.. Good thread, keep it up

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Quoting dagoods

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{quote} TY for that post (and subsequent posts fellas). How to do it is always the question. I'm interested to learn more about how one would go about setting up a chart for that technique, as well as exactly what a perfect setup would look like, if you are inclined to take the time to share. I'm guessing you use bid ratio and relative strength indicators? Thank you in advance. Kind Regards D

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Quoting redfan

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{quote} That's a good point you make is there any other indicator that could show us which pair was the weakest, or even one of these brokers trading sites that shows you which pair is the weakest.

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Quoting dagoods

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{quote} TY for that post (and subsequent posts fellas). How to do it is always the question. I'm interested to learn more about how one would go about setting up a chart for that technique, as well as exactly what a perfect setup would look like, if you are inclined to take the time to share. I'm guessing you use bid ratio and relative strength indicators? Thank you in advance. Kind Regards D

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Quoting redfan

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I was wondering if anyone could suggest any sites similar to Forex factory, baby pips, SoeHoe. Just to see if they've got any new trading ideas.

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Quoting havo

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{quote} 3 correlation currency trading its to ONLY spot the weak vs strong and nothing else!! if in any given moment this aproach tells you "you know what, xx/xx cross have a big chance of goint up/down" you STILL need to analize the price and determine the proper/right moment to enter the market.. this is a step that you can never ignore no matter what you are doing, be it this filter, using X indicator or whatever, Confirmation via price reading its everything =) This is a good "first step" to filter a possible good opportunity...

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Quoting Shabs19

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{quote} My advice, Don't go on this merry go round ride, find something that works for you then stick to it. You will waste many years trying to find "that perfect system". Apply logic, as you have done here and you will not go far wrong. Edit: Along the lines of your present system, maybe worth looking at MaDash to see opposite correlation pairs: {image}

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Quoting redfan

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Something doesn't seem right, one currency strength indicator is saying Australia is second from the bottom and it's a buy, The other currency strength indicator is indicating Australia is stronger than the EU? {image} {image}

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Quoting Shabs19

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{quote} Its because the Oanda tool is designed to show Weekly, Monthly Or Yearly Strength. You are looking at the Weekly Strength judging by the date shown. The other indictaor is showing strength according to the timeframe of your chart or the setting in inputs, possibly Daily. You have to know the timeframe of the Strength calculation. {image} The MaDash Thread: https://www.forexfactory.com/showthread.php?t=545718 Latest Indicator is found here: https://www.forexfactory.com/showthr...1#post12663661 It has expiry...

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Quoting redfan

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{quote} I looked at that and for some reason, it just did not register in my brain, I think I will give the Mac dash ago, once again Thank you for your input.

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Quoting Shabs19

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{quote} Give yourself time to understand how the MaDash works and then try different settings that fit in with your criteria. The tool is doing live calculations with live data, so it will update & change as time progresses. It should be a tool that can isolate currency pairs that are of interest to you very quickly.

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Quoting redfan

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{quote} The first thing I have to say the persons who built this I've done a fantastic job,

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Quoting Shabs19

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{quote} The indicator is based on a currency pairs price distance from a moving average that you select and across as many timefarmes that you select. You have many different ways to analyse the strength within the inputs and also how the indicator displays the results. You can see strengths of either currency pairs or the currency itself, to locate the strongest vs the weakest at a timeframe or overall. It really is an amazing piece of work. Select a blank chart, load the indicator, try different settings, save the settings by creating a template....

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