Currency Strength Indicator v2.0

The extremes on R2 is the easiest and quickest to identify on a daily basis, shortly after Tokyo open. For today, it's GBPUSD. The question is where to target. This is one of the things to be tested in this journal.

Is anybody else testing the indicator? If there's enough interest, I can make the indicator available on a site.

This is the other setup that seems to work. The currency that initially crosses the other currency, finding another currency that is on that same side, but closest to the zero line. In this case, it's GBPNZD and GBPAUD.

R1, which I'm not testing, also gives the same GBPNZD GBPAUD, along with the converged pair.

The idea with this one is that the one that has crossed 2 or more currencies, along with the one that is hovering a bit neutral around the zero line, they are both negative, but the primary one is more negative, so it's likely to trend. This is yet another setup identified with the indicator.

Actually you can see from the tables that NZD had a lower value, closer to the zero line, so this setup is working better with GBPNZD but I didn't place any trades on it. Here it is anyway to show the pair.

The setups behave differently. The extremes on R2 is going to be a slow grind drag but it's the first one to be identified. The two negatives, or the two positives, will be choppy and volatile and could trend strongly. There is also the two opposite sign closest to the zero line which seem to trend with the bias being the one with the highest value or lowest value. There are a couple of more setups that I have in mind but I'm sharing the indicator readings here now to see if others can identify others, can identify other new setups. Although it seems people don't understand and maybe it's really difficult to think and they're getting nose bleed, I'm really not sure. Thousands of active members but I guess threads like signals with moving averages is more suitable.

I'll also test 08:00. I'll update with those screenshots soon. It's currently 07:46. Tokyo is definitely great, but I'm sure there are other session times where the indicator will create a good market map.

Based on the 08:00 start (testing), EUR is the main one to look at for various combinations of the set up.

EUR and GBP on the negative side and NZD on the positive side are the main ones to look for various combinations since each crossed more than 2 currencies.

Here is R2 so far, started at 08:00 (test).

Once the map of R2 for 08:00 is fully complete, I'll look for the two negatives or two positives. Those are volatile choppy but good ones since they seem to trend hard instead of slow moving like R2 extremes.

Does anybody see any setups, other ways to trade the indicator?

I am not, but if anyone is into news trading, they should inform if the indicator is useful for determining news bias.