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Currency Strength Meter (CSM)

  • #21
  • Dec 2, 2020 11:49pm Dec 2, 2020 11:49pm
Quoting bighead71
I have been following some of your posts and you have been very generous with your indicators. I was wondering why you never responded to the last message to this post regarding the modification of this EA. https://www.forexfactory.com/thread/...17#post9752017 I know this is a different thread so u are more active here than there so I sent u this message here. Also, I will like one more addition to the EA. if u will not have the time how about some money for your time and...
I'm sorry for not noticing it. but it seems a lot to be done. so, not gonna do it for now.
  • #22
  • Dec 3, 2020 6:58pm Dec 3, 2020 6:58pm
Quoting qkcode
{quote} it's divided by 7. which file you're referring to? {image}
the no gold one, anyway i will change it accordingly. thanks for the code.

by the way, i notice that, when the CSM number go to above 80 or 90 (same for 20 and 10), it become hard to reflect to the currency.
example, when the number go to 90, ranging around it, the currency could still go higher.

is there a way to make the csm go above 100 value?
  • #23
  • Dec 4, 2020 6:11pm Dec 4, 2020 6:11pm
Quoting SerbSerb
Well fixed it for nothing, didn't work even after removing the gold symbol so I fixed up the inefficiencies in the code and now it works perfectly for me {file} {file}
Please it will be nice if you would add gold to the it
  • #24
  • Dec 4, 2020 10:56pm Dec 4, 2020 10:56pm
Quoting Ican2020
{quote} Please it will be nice if you would add gold to the it
What do people think is used to gauge the strength of Gold?

Not you in particular but feel free to answer.

I mean with a currency PAIR, there are 2 currencies to compare

Eg. you can take the moving average of USD (vs. 7 other currencies) and compare it to the moving average of AUD (vs. 7 other currencies)

Or use any other type of price indicator.

With Gold, there is only the price of Gold in USD; compare that with what?

It's XAU = Gold vs USD = US dollar ???

What will be stronger or weaker against? With what price indicator?

Please explain, I am tormented by this LOGIC or lack of.

MAY THE TREND BE WITH YOU
  • #25
  • Dec 5, 2020 2:06am Dec 5, 2020 2:06am
since we know that gold vs usd is usually correct.
the only question is whether this shifting reaction exists from this relationship. because if it exists then it makes sense to trade based on it.
so if there is a delay in reaction then you can gain from this relationship.
if there is none then it is just a waste of time to analyze this.
  • #26
  • Dec 5, 2020 2:09am Dec 5, 2020 2:09am
Quoting tiborf71
since we know that gold vs usd is usually correct. the only question is whether this shifting reaction exists from this relationship. because if it exists then it makes sense to trade based on it. so if there is a delay in reaction then you can gain from this relationship. if there is none then it is just a waste of time to analyze this.
Biggest load of gibberish ever - what is this relationship you mention?

Sure, watch the PRICE of Gold, that's all you have!

MAY THE TREND BE WITH YOU
  • #27
  • Jan 14, 2021 2:49pm Jan 14, 2021 2:49pm
Quoting Erebus
{quote} What do people think is used to gauge the strength of Gold? Not you in particular but feel free to answer. I mean with a currency PAIR, there are 2 currencies to compare Eg. you can take the moving average of USD (vs. 7 other currencies) and compare it to the moving average of AUD (vs. 7 other currencies) Or use any other type of price indicator. With Gold, there is only the price of Gold in USD; compare that with what? It's XAU = Gold vs USD = US dollar ??? What will be stronger or weaker against? With what price indicator? Please explain,...
You are the pro, if some of us are finding it complicated to understand how gold behaves, its pro like you we look up to for direction.

So, how can one trade gold successful?
  • #28
  • Last Post: Feb 17, 2021 8:17am Feb 17, 2021 8:17am
Hi Qkcode,

Thanks for the codes. I would like to know the rationale behind it. Hope you can give a quick explanation. Thanks alot.
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