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Relative Strength

  • #1
  • First Post: Apr 12, 2008 1:36am Apr 12, 2008 1:36am
Hello all,

I have not been able to find an indicator that plots the Relative Strength of Currency. I’m not talking about the RSI indicator, but rather the method describe on the following website, http://www.mkl.sp.ru/. It does not seem like this method of analysis is too popular in the Spot FOREX market?
  • #2
  • Apr 12, 2008 10:22am Apr 12, 2008 10:22am
An area I´m very interested in...Simeon Semenych has published some interesting papers on this over at mql4.com. .... which may be what you are looking for. Its one approach at least.

"Theoretical Basis of Building Cluster Indicators for FOREX").
and "Practical Application of Cluster Indicators in FOREX "

Hes also created some interesting indys. Not for the faint hearted... LoL:
CC.mq4 (17.0 Kb)
CCFp.mq4 (17.1 Kb)
CCp.ex4 (19.4 Kb)
CFP.mq4 (13.8 Kb)
Complex_pairs1.mq4 (3.7 Kb)

Heres the LINK: http://articles.mql4.com/484..
Let me know what you think...

Regards Cliff
  • #3
  • Apr 12, 2008 12:23pm Apr 12, 2008 12:23pm
Well the web link the thread starter posted is just about pairing weakness and strength to get the best chance for a trend. Old strategy, used by a lot of pit traders... so it's certainly valid. But with charts you don't really need to do all that since strength is pretty apparent in price.
  • #4
  • Apr 12, 2008 1:21pm Apr 12, 2008 1:21pm
Quoting newtofx
Hello all,

I have not been able to find an indicator that plots the Relative Strength of Currency. I’m not talking about the RSI indicator, but rather the method describe on the following website, http://www.mkl.sp.ru/. It does not seem like this method of analysis is too popular in the Spot FOREX market?
I dont know if this qualifies to your needs..
Attached File(s)
File Type: mq4 MultiPairTrend.mq4   3 KB | 3,207 downloads
  • #5
  • Apr 12, 2008 2:08pm Apr 12, 2008 2:08pm
Quoting trader101
I dont know if this qualifies to your needs..


This is what I was looking for. Why is LWMA’s being used to draw the lines? Thank you. Also thank you to the others that posted a reply, very helpful as well
  • #6
  • Apr 12, 2008 2:47pm Apr 12, 2008 2:47pm
This is very interesting. My only question is, is there a guide somewhere telling us which currency each color is?
  • #7
  • Edited 3:34pm Apr 12, 2008 3:16pm | Edited 3:34pm
Hi,

I like this MultiPairTrend.mq4, a very compact little program. Great. But it gives equal weight to all pairs, which will be better if some differing weights are used (needs some complication!).

We can easily edit the file in MetaEditor and change all the LWMA with SMA or EMA or SMMA (using Edit -> Replace option will make it easier and accurate; case sensitive).

Thanks.
chandra

PS:
Here are the color codes as defined inside the program.

Red //EU
Blue //GU
Orange //AU
White //UC
Yellow //UJ
Aqua //UCAD
Lime //USD
  • #8
  • Apr 13, 2008 5:46am Apr 13, 2008 5:46am
Quoting newtofx
Legend works now
I really appreciate you making the indicator very user friendly. My only comments is that you made some revision to it and you completly remove the name of the original author. Revising someone else work without even giving him a credit and completely removing his name with out his permission and making it your own is considered UNETHICAL. I should have not shown it to you had i known that you are going to do this. I am not going to be a party to this.
  • #9
  • Apr 13, 2008 7:39am Apr 13, 2008 7:39am
Quoting achandrasekaran99
Hi,

I like this MultiPairTrend.mq4, a very compact little program. Great. But it gives equal weight to all pairs, which will be better if some differing weights are used (needs some complication!).

We can easily edit the file in MetaEditor and change all the LWMA with SMA or EMA or SMMA (using Edit -> Replace option will make it easier and accurate; case sensitive).

Thanks.
chandra

PS:
Here are the color codes as defined inside the program.

Red //EU
Blue //GU
Orange //AU
White //UC
Yellow //UJ
Aqua //UCAD
Lime //USD
Good point Chandra... Did you have an "external factor" model in mind or specifically or MA type related ?
The latter you cover.. thank you..
The former... Mmmmmmm.. bit of thinking here.. about what might be useful..

PS Your work on Imran indys ( and the clarity of your documentation thereof) has been a huge contribution.. Thank you.
  • #10
  • Edited 2:39pm Apr 13, 2008 2:18pm | Edited 2:39pm
Quoting trader101
I really appreciate you making the indicator very user friendly. My only comments is that you made some revision to it and you completly remove the name of the original author. Revising someone else work without even giving him a credit and completely removing his name with out his permission and making it your own is considered UNETHICAL. I should have not shown it to you had i known that you are going to do this. I am not going to be a party to this.
Sorry, Its not as if I’m trying to take the credit for the indicator. I was deleting things out to see what was necessary for the indicator to work and what was not necessary. I forgot to put the authors info back in.
Attached File(s)
File Type: mq4 MultiPairTrend_v2.1.mq4   6 KB | 2,826 downloads
  • #11
  • Apr 13, 2008 2:25pm Apr 13, 2008 2:25pm
Accepted.. Actually you can include your name below to identify that you have added the Legend that is perfectly acceptable. Also you should raised up the revision number to avoid confusion. My apologies for my harsh words as well, but we need to maintain a little decency and respect to all the coders of the world. We as americans should be the first ones to respect others. Peace out.
  • #12
  • Apr 14, 2008 8:41am Apr 14, 2008 8:41am
Quoting newtofx
Hello all,

I have not been able to find an indicator that plots the Relative Strength of Currency. I’m not talking about the RSI indicator, but rather the method describe on the following website, http://www.mkl.sp.ru/. It does not seem like this method of analysis is too popular in the Spot FOREX market?
Tom Yeomans sells something that might be what you're after. I've got his old spreadsheet version but he has a new version out which can read about here http://forexgrail.com/

When I asked him what the new version offers that the old one doesn't he told me; "new version saves plotting the strengths and weakness over periods of time since the spreadsheet gives only tick by tick data."

Below is a screenshot of the spreadsheet version I have.

Hope this helps
Rob
Attached Image (click to enlarge)
Click to Enlarge Name: tom.jpg Size: 155 KB
  • #13
  • Oct 4, 2008 2:42pm Oct 4, 2008 2:42pm
Is there a way to modifye multipairtrend indicator that i can set 9 or more pairs? When I try, it's complaining something about indicator colors.. Please help.
  • #14
  • Oct 4, 2008 9:23pm Oct 4, 2008 9:23pm
Peke5, you may only add 1 more pair. Each color is corresponding to a buffer. Indicators can only have a maximum 8, and 7 are being used already. The indicator takes into account every major USD cross though, but if you want to add another you'll have to add it into the buffer.

An easier method would be to load 2 instances, and edit the pairs per indicator.

example shows the euro's inclusion:
EUR=(iMA("EURUSD",0,PerAvr,0,MODE_LWMA,PRICE_CLOSE,i)-iMA("EURUSD",0,PerAvr*M,0,MODE_LWMA,PRICE_CLOSE,i));

The only other pair I can think of that may be used is TRY, so to replace Euro with try, you would replace the line above with:
TRY=(iMA("USDTRY",0,PerAvr,0,MODE_LWMA,PRICE_CLOSE,i)-iMA("USDTRY",0,PerAvr*M,0,MODE_LWMA,PRICE_CLOSE,i));

If you did this the whole way down and saved it separately, you would have another 7 pairs to reference.

You may also try switching this line to change from a USD index into a whichever index:
USD=-(EUR+GBP+AUD+CHF+CAD+JPY)/6;

an AUD index would change into:
AUD=-(USD+EUR+GBP+CHF+CAD+JPY)/6;

Remember to edit your variables throughout to prevent error.
  • #15
  • Oct 5, 2008 2:03am Oct 5, 2008 2:03am
Too bad, it can't handle more pairs

Yeah I have figured out adding/remowing pairs, and I'am using this consept for usd, euro ja yen index, thanks anyway
  • #16
  • Oct 8, 2008 12:37am Oct 8, 2008 12:37am
Hi,

Can i know why i put this indicator 'multipairtrend' in folder:experts/indicators,
but it can't appear in my system?

Quoting Peke5
Too bad, it can't handle more pairs

Yeah I have figured out adding/remowing pairs, and I'am using this consept for usd, euro ja yen index, thanks anyway
  • #17
  • Jun 26, 2019 11:17pm Jun 26, 2019 11:17pm
Quoting tjsun80
Hi, Can i know why i put this indicator 'multipairtrend' in folder:experts/indicators, but it can't appear in my system? {quote}
It is an old thread but for later study I subscribe. Thanks and Regards
  • #18
  • Apr 23, 2022 4:05am Apr 23, 2022 4:05am
Wondering if anyone can help with the relative strength indicator in commodities.
I tried searching indicator but all were for cpairs.
Can anyone help me with this?
  • #19
  • Apr 24, 2022 6:33am Apr 24, 2022 6:33am
Quoting satish2021
Wondering if anyone can help with the relative strength indicator in commodities. I tried searching indicator but all were for cpairs. Can anyone help me with this?
Keep on searching, the answer is out there

It takes a lot for me to IGNORE you, but you can try.
  • #20
  • Last Post: Apr 24, 2022 9:53am Apr 24, 2022 9:53am
Forex is betting similar to a football league. I am waiting for a similar indicator on the football principle. Evaluation after the end of the time frame. How the matches between the base currencies turned out. 28 matches.
Please excuse the bad English via Google Translate.
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