Currency Strength for counter trading | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Is There An Ea/script That Displays The Strenght Of All The Currencies? 3 replies

Counter Spike Trading - Anyone try it like this? 14 replies

Why Paper Trading Is Counter Productive 6 replies

1 hour counter-trend trading technique 8 replies

Counter trend trading 19 replies

Attachments: Currency Strength for counter trading
Exit Attachments

Currency Strength for counter trading

  • #1
  • First Post: Edited Jan 25, 2022 12:31pm Jan 17, 2022 1:57pm | Edited Jan 25, 2022 12:31pm
Hello traders,

I start this thread in order to let you know my knowledge about the above topic with further information, to be followed...

I use the currency strength indicator from the famous "FerruFX". Well known here!

I use default settings.

Further information will follow

Renkotop
Attached File(s)
File Type: ex4 FFx_Universal_Strength_Meter.ex4   137 KB | 1,034 downloads
  • #2
  • Jan 17, 2022 2:03pm Jan 17, 2022 2:03pm
Currency strength is a good topic. Good luck with your thread!
Learn from your mistakes and march on.
  • #3
  • Jan 17, 2022 2:09pm Jan 17, 2022 2:09pm
done
  • #4
  • Jan 17, 2022 2:20pm Jan 17, 2022 2:20pm
I know of some free resources that are good for measuring currency strength.

finviz
market milk (babypips resource)
Currency Quake
Currency Power
Mataf
Learn from your mistakes and march on.
  • #5
  • Edited 3:39pm Jan 18, 2022 2:51pm | Edited 3:39pm
You can as well add this to the list above. https://www.barchart.com/forex/market-map . May NOT be suitable for the very aggressive scalper (1m - 5m TF) as it refreshes every 10mins.

Very good for measuring currency strength/quick decision making ...so you dont waste your time harvesting 10pips in 4hrs whereas you can harvest 15pips in 30mins!.

Understanding currency correlation would give you an edge in combination with the currency strength (bar chart).

You can also compare ferruFx with the attached .
Attached File(s)
File Type: mq4 currency-strength-alerts.mq4   29 KB | 676 downloads
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #6
  • Jan 24, 2022 5:42am Jan 24, 2022 5:42am
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 32 KB
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #7
  • Edited 4:42pm Jan 25, 2022 12:15pm | Edited 4:42pm
EURGBP- long
GBPCHF- short
GBPNZD- short
CADCHF- short
CHFJPY- long
From 19.44 German time

GBP strong- so short GBP
CHF weak- so long CHF

Counter Trade!

Result from this evening:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2.png Size: 30 KB
  • #8
  • Jan 27, 2022 11:14pm Jan 27, 2022 11:14pm
CXY H6 Index. QMD. About to make that dive.

Match against a stronger currency for quality pips.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 74 KB
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #9
  • Jan 29, 2022 8:28am Jan 29, 2022 8:28am
Good thread topic. Subscribed.
  • #10
  • Jan 31, 2022 9:44am Jan 31, 2022 9:44am
Quoting here2there
I know of some free resources that are good for measuring currency strength. finviz market milk (babypips resource) Currency Quake Currency Power Mataf

I totally agree with you bro as for the currency meter being one of the most sought after topic in FF

however after trying with a bunch of them i still find the CSM of finviz ( relative 1 day performance) to be the most effective for my trading
https://finviz.com/forex.ashx

i have been trying to figure out how is that calculated ,,as i want to make an indicator to be attached to my mt4 ,,

but after trying for a few days , i still havent come up with any solution on their workout of it

if anyone could shed a light on the topic would be perfect ,,

thank you all and happy green pips !!!
  • #11
  • Feb 3, 2022 8:48am Feb 3, 2022 8:48am
Quoting pipibrasci
CXY H6 Index. QMD. About to make that dive. Match against a stronger currency for quality pips. {image}
Update on the CXY (CAD) H6 Index QMD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 59 KB
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #12
  • Feb 8, 2022 7:47am Feb 8, 2022 7:47am
Quoting pipibrasci
{quote} Update on the CXY (CAD) H6 Index QMD {image}
CAD/CXY Update (Possible shorts on the CAD)
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 61 KB
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #13
  • Feb 18, 2022 9:39am Feb 18, 2022 9:39am
Quoting pipibrasci
{quote} CAD/CXY Update (Possible shorts on the CAD) {image}
My Last Update on the CXY(CAD) Index. H6

QMD Target Breached.

H & S Target almost.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 73 KB
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #14
  • Feb 26, 2022 3:02am Feb 26, 2022 3:02am
jimz73,

Daily % Change Indicator compared to Finviz 1 Day Relative Performance Chart, as part of Currency Strength Dashboard.


Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 338 KB


Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 175 KB


Define Positive and Negative change % values default set to:
- Positive 0.29
- Negative -0.29
- Flat all % changes in between the defined values

Define Positive, Negative and Flat colours.

Option to Send signals to TDesk:
- LONG if > Positive Change Value
- SHORT if < Negative Change Value
- FLAT if in between

Attached File(s)
File Type: ex4 TimeFX_CS_Daily_Percentage_Change.ex4   105 KB | 661 downloads


TimeFX

Quoting jimz73
{quote} I totally agree with you bro as for the currency meter being one of the most sought after topic in FF however after trying with a bunch of them i still find the CSM of finviz ( relative 1 day performance) to be the most effective for my trading https://finviz.com/forex.ashx i have been trying to figure out how is that calculated ,,as i want to make an indicator to be attached to my mt4 ,, but after trying for a few days , i still havent come up with any solution on their workout of it if anyone could shed a light on the topic...
Strong 'vs' Weak Trend Bias Direction and Weighted Trade Signals.
  • #15
  • Last Post: May 15, 2022 9:35am May 15, 2022 9:35am
Hello Mr.
Need to
“FerruFX”Alarm system
thank you
0 traders viewing now