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Can someone fix this currency strength indicator? 37 replies

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Currency Strength Indicator

  • #681
  • Sep 3, 2024 2:11pm Sep 3, 2024 2:11pm
Aligment adr_DWM AUDUSD
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  • #682
  • Sep 3, 2024 3:34pm Sep 3, 2024 3:34pm
Under observation
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  • #683
  • Sep 4, 2024 3:36pm Sep 4, 2024 3:36pm
Added aDr aWr aMr for tests...
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  • #684
  • Sep 5, 2024 4:18am Sep 5, 2024 4:18am
would it not be a good idea to add indexes? because an index mostly go the opposite of currencies. so if strength in an us index for example goes up good indicator pride of eurusd gbpusd etc going down.
  • #685
  • Edited 7:51am Sep 5, 2024 7:23am | Edited 7:51am
Quoting coinfactor
Non sarebbe una buona idea aggiungere indici? Perché un indice di solito si comporta in modo opposto alle valute. Quindi se la forza di un indice statunitense, ad esempio, sale, è un buon indicatore dell'orgoglio di eurusd gbpusd ecc. che scende.

I have what you are looking for in the archive, I search and publish.
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September 2022 : If you find something interesting, let me know.
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these are the internal settings (to be checked)
Attached File(s)
File Type: ex4 BidRatio 1.2 (2).ex4   48 KB | 227 downloads
  • #686
  • Sep 5, 2024 9:07am Sep 5, 2024 9:07am
Pisoft,

when i add your indicator BidRatio 1.2 (2).ex4 , the screen is messed up.

i added a picture in attachment in my reply,

also you use RSI in this indicator if i am right. do not do it. RSI, moving average are for longterm trends. not for price action. when using the currency strength always depend on price action!

for example if i would enter a sell on eurusd and buy on eurgbp and buy on gbpusd. i have a strong hedge. now if the hedge in total goes in profit then you know the strength trend is a buy. now if eurusd,eurgbp, gbpusd go into minus. you have a sell trend.

i added a picture as well for you to understand. this is an older picture from a few years ago. but you have a basic understanding what i mean. also my english is not that good. so if you have any questions feel free to ask.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BidRatio 1.2 (2)-messedup-screen.png Size: 10 KB
Click to Enlarge Name: trend-trade-using-currency-strenght.png Size: 35 KB
  • #687
  • Sep 5, 2024 9:41am Sep 5, 2024 9:41am
Quoting coinfactor
Pisoft, when i add your indicator BidRatio 1.2 (2).ex4 , the screen is messed up. i added a picture in attachment in my reply, also you use RSI in this indicator if i am right. do not do it. RSI, moving average are for longterm trends. not for price action. when using the currency strength always depend on price action! for example if i would enter a sell on eurusd and buy on eurgbp and buy on gbpusd. i have a strong hedge. now if the hedge in total...
I'm sorry your screen has a different resolution than mine. I don't use RSI. What makes you think this?
  • #688
  • Sep 5, 2024 10:30am Sep 5, 2024 10:30am
Plsoft,

when i add your indicator on the chart in options you have rsi period and rsi price. ( check added picture )
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Click to Enlarge Name: BidRatio 1.2 (2)-rsi-14.png Size: 21 KB
  • #689
  • Sep 5, 2024 10:39am Sep 5, 2024 10:39am
Quoting coinfactor
Per favore, quando aggiungo il tuo indicatore sul grafico nelle opzioni hai il periodo RSI e il prezzo RSI. (controlla l'immagine aggiunta) {image}
ok now I understand.
Not always what is in the dashboard is then used is an item used before my modification that I have not deleted.
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  • #690
  • Sep 5, 2024 11:53am Sep 5, 2024 11:53am
plsoft,

but do you think you could fix the indicator so that the screen is not messed up when you use a different resolution?
because now i have no idea what the indicator actually is doing.
  • #691
  • Sep 5, 2024 12:47pm Sep 5, 2024 12:47pm
Quoting coinfactor
plsoft, but do you think you could fix the indicator so that the screen is not messed up when you use a different resolution? because now i have no idea what the indicator actually is doing.
I find the correlation between indices and currencies interesting.
If you load the REPORT(0.1.1) indicator do you have display problems?
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  • #692
  • Sep 5, 2024 5:27pm Sep 5, 2024 5:27pm
Plsoft,

This is what my chart looks like when i add the report 0.1.1 indicator ( check picture )
and the correlation is very interesting between indexes and currencies.

the key problem is that no one ever made an index / currency overlay chart that resets every day. if you want real currency power. then an historical overlay chart is key. but it needs not to repaint and reset every day. then when you map the index on a currency. you can check back in history and find trade points that will repeat in the future.

as you see in the second picture i use an overlay indicator the nas100 with eurusd. however this overlay chart repaints. so it looks like usindex is higher then eurusd. but this is not true. when i zoom in it repaints. ( check picture, purple , blue is us index nas100 )
therefor it is important to have a an overlay indicator that does not repaint and reset every day. to really understand where the currency strength lies.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: report 0.1.1.png Size: 13 KB
Click to Enlarge Name: nas100-eurusd.png Size: 12 KB
  • #693
  • Edited 8:06am Sep 6, 2024 1:20am | Edited 8:06am
Load this indicator and play with the values in the dashboard.
I gave you the possibility to insert 4 symbols and change the height of the text.
Let's see if we can visualize it correctly.
Attachment F
The last entry still doesn't work.
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Attached File(s)
File Type: ex4 PlSoft_BR(0.0.2).ex4   42 KB | 224 downloads
  • #694
  • Sep 6, 2024 3:13am Sep 6, 2024 3:13am
Plsoft,

it works, but the letters are very small. ( check attached picture )

if possible could you make it bigger, because it is very hard to read. ( when i change text size in options ) then it becomes unreadable again.

also what is your 0 point when you calculate the currency strength? daily? weekly? monthly?
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  • #695
  • Sep 6, 2024 8:08am Sep 6, 2024 8:08am
Quoting coinfactor
Plsoft, it works, but the letters are very small. ( check attached picture ) if possible could you make it bigger, because it is very hard to read. ( when i change text size in options ) then it becomes unreadable again. also what is your 0 point when you calculate the currency strength? daily? weekly? monthly? {image}

I invite you to download the new version on post 693 I removed an error and added ADR
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these numbers increase and decrease the character, see if you find a balance.
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  • #696
  • Sep 6, 2024 8:19am Sep 6, 2024 8:19am
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the asterisk represents the daily opening
The indicator tracks the BIDRATIO and divides it into two types of numbers (positive & negative)
positive signals price strength when the price is higher than the opening,
negative when the price is lower than the opening.
all BIDRATIO calculations are on the daily time frame.

The ADR is represented by the three numbers. as I have explained many times, the position of the price between the minimum/maximum of the time frames is represented by a number. aDr= daily aWr=wikly aMr=montley

it becomes more interesting now
because if I have a high aDr ( > aDr[7] or <aDr[3] ) and a BIDRATIO in the opening area there can be a contrary movement
  • #697
  • Sep 6, 2024 9:26am Sep 6, 2024 9:26am
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this can be a good example of indicator reading.
high opening price compared to aDr[8] aWr[7] levels
  • #698
  • Sep 7, 2024 9:15am Sep 7, 2024 9:15am
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A new version is ready. If it passes next week's test I'll share it.
  • #699
  • Sep 8, 2024 8:14pm Sep 8, 2024 8:14pm
I can't wait.Thank you
  • #700
  • Sep 9, 2024 9:37am Sep 9, 2024 9:37am
Dear PISoft,
You have an interesting PISpft Board. It started from Page 30 -35 and look around how I can completely understand the concept and how to trade using this board.

Where should I started to read in order to understand the board.

Thank you for the great board.

Citi

Quoting PlSoft
Aligment adr_DWM AUDUSD{image} {image}
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PlSoft