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Can someone fix this currency strength indicator? 37 replies

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Currency Strength Indicator

  • #181
  • May 31, 2014 5:18am May 31, 2014 5:18am
I think you could link to the post where it is possible to download the mq4-file ...
PM me with coding requests and I'll probably put you on my ignore list
  • #182
  • May 31, 2014 11:35am May 31, 2014 11:35am
Quoting tanim
Hello, FXdaytrader, Thanks for your response.I checked the journal .no Error.The indicator is loading.but in in indicator window thye currency lines are straight.no movement.its seems that the calculations are not working.IN MT4600 they may have changed some built in function.thats causing the problem.but which one I am not sure.The ind used to work fine in MT4 500.thanks in advance.
Sometimes it loads for me with straight lines, then I go to the Inputs and change something, hit Ok, then go back and hit Reset or change it back, then it works.
  • #183
  • May 31, 2014 11:59am May 31, 2014 11:59am
I made a few small changes, use it if you want, or not. I fixed it so it works right if you hide the EUR (why? you never know...) line, and I changed it so the Curr text colors are the same as the lines. Makes it easier for me.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-m5-finfx-trading-oy.png Size: 33 KB
Attached File(s)
File Type: mq4 StrengthMeter_wSuffix-mod.mq4   15 KB | 6,622 downloads
  • #184
  • Jun 13, 2014 10:29am Jun 13, 2014 10:29am
Quoting capito
Here is how my charts look like. Pretty simple currency index for all time frames and +5 indicates strong buy and -5 indicates strong sell. Cheers!!! {image}
can you post this indy please
  • #185
  • Jun 14, 2014 1:07pm Jun 14, 2014 1:07pm
Quoting global3
These questions were originally for flotsom who provided his strMeter.mq4 and StrengthMeter.mq4 indicators here but he doesn't seem to be visiting the forum these days so he didn't yet see my two PMs copied below, so if anyone here can answer my questions I'll really appreciate it. PM#1: I'm testing your Currency Strength Indicator from your post at http://www.forexfactory.com/showthre...70#post4766170 however, there is one thing that I don't understand. In your description...
I too am wondering what the strengthbase and recentchbase calculate?? Is this correct? as you said?
  • #186
  • Jun 14, 2014 2:29pm Jun 14, 2014 2:29pm
Quoting justin7
{quote} I too am wondering what the strengthbase and recentchbase calculate?? Is this correct? as you said?
strengthbase calculates the relative strength compared to X bars ago (60) and is shown in the lines and the first graph. recentchbase (10 bars) is shown in the second graph. I made a small change so if you put 0 (zero) for the TimeFrame it will use the current chart TF, or you can put any valid TF (1, 5, 15, etc.) and it won't change.

Attached File(s)
File Type: mq4 StrengthMeter_wSuffix-mod2.mq4   15 KB | 3,992 downloads
  • #187
  • Jun 14, 2014 2:33pm Jun 14, 2014 2:33pm
Quoting ericjschroed
{quote} strengthbase calculates the relative strength compared to X bars ago (60) and is shown in the lines and the first graph. recentchbase (10 bars) is shown in the second graph. I made a small change so if you put 0 (zero) for the TimeFrame it will use the current chart TF, or you can put any valid TF (1, 5, 15, etc.) and it won't change. {file}
but as global3 said

" If that is so, then wouldn't that be too long a time period to judge the current strength and weakness of each currency? Similarly, wouldn't 10 also be too long a period to calculate the recent change in strength for the RecentCHBase as well? For example, if you compare the current price with the price 10 bars ago you may get a positive gain but if you compare the same current price with the price for example 5 bars ago isn't it possible to get a negative value if, 5 bars ago, the price rose above the current price?"
  • #188
  • Jul 2, 2014 5:14pm Jul 2, 2014 5:14pm
Nice indicators I like the GUI on post 17
  • #189
  • Jul 4, 2014 3:54pm Jul 4, 2014 3:54pm
This indicator doesn't work anymore. Can someone fix it please?
Attached Image
Attached File(s)
File Type: mq4 #4X 2010 Forex Power.mq4   5 KB | 3,088 downloads
  • #190
  • Jul 11, 2014 10:16am Jul 11, 2014 10:16am
Congrats Guys for this great indicator. I think this is a gift to everyone. StrengthMeter_wSuffix-mod.mq4 . Thanks and keep up the good work.
  • #191
  • Jul 11, 2014 10:39am Jul 11, 2014 10:39am
Quoting gbudy
Congrats Guys for this great indicator. I think this is a gift to everyone. StrengthMeter_wSuffix-mod.mq4 . Thanks and keep up the good work.
Hi
thanks
Can you explain how does this indicator work?
What is math behind this?
Calculated, measured by?


extern int StrengthBase = x;
extern int RecentCHBase = y;


thanks
  • #192
  • Jul 11, 2014 11:50am Jul 11, 2014 11:50am
Quoting Cypr3ss
Attached is an excel sheet that you can use. I got this on FF and adapted for my use. The creator of the excel sheet eventually released a commercial strength meter as stand alone program. {file}
This must be the AccuStrength program you are referring to. I always wondered what the Excel sheet he initially created was so good to see it now. Speaking of AccuStrength currency strength meter, has anyone ever subscribed to the annual subscription? I know the readings are derived from prices coming from actual interbank feeds, which is part of the reason why AccuStrength charges for a subscription (to pay for the feed). I never understood though why AccuStrength doesn't give options for time frames like other meters do. I would think one needs to be able to see strength across different time frames, and not just have one current reading.
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  • #193
  • Jul 16, 2014 6:23am Jul 16, 2014 6:23am
Wouldn't it be a good idea to draw the strength lines for each currency every day new from the daily open? The advantage would be that the direction and correlation could be better identified for day trading. Unfortunately I am not a programmer, otherwise I would have done it already.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.jpeg Size: 672 KB
  • #194
  • Jul 16, 2014 7:12am Jul 16, 2014 7:12am
I would agree it would be best to start from the day open and than compare to the week open, you would also need a gmt time offset for the
different brokers, I am also not a programmer

Quoting Coli69
Wouldn't it be a good idea to draw the strength lines for each currency every day new from the daily open? The advantage would be that the direction and correlation could be better identified for day trading. Unfortunately I am not a programmer, otherwise I would have done it already. {image}
  • #195
  • Jul 16, 2014 2:11pm Jul 16, 2014 2:11pm
Quoting Coli69
Wouldn't it be a good idea to draw the strength lines for each currency every day new from the daily open? The advantage would be that the direction and correlation could be better identified for day trading. Unfortunately I am not a programmer, otherwise I would have done it already. {image}
Like this?:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd-m1-finfx-trading-oy.png Size: 37 KB


I was kind of hoping someone would ask. I modified this based on CCT's use. I need to make it a little more user friendly and will post later.
  • #196
  • Jul 16, 2014 2:18pm Jul 16, 2014 2:18pm
Yes looks nice, thank you for your help


Quoting ericjschroed
{quote} Like this?: {image} I was kind of hoping someone would ask. I modified this based on CCT's use. I need to make it a little more user friendly and will post later.
  • #197
  • Jul 16, 2014 2:34pm Jul 16, 2014 2:34pm
great work eric
  • #198
  • Jul 16, 2014 3:10pm Jul 16, 2014 3:10pm
Quoting ericjschroed
{quote} Like this?: {image} I was kind of hoping someone would ask. I modified this based on CCT's use. I need to make it a little more user friendly and will post later.
Hi Eric, yes, exactly like that!

Thanks, coli
  • #199
  • Jul 16, 2014 5:52pm Jul 16, 2014 5:52pm
Ok, here it is. I'm not the best programmer and I struggled to get it to do what I wanted so don't expect any suggestions to be added, unless it's really easy and I'm bored. If I screwed something up, I'll fix it.

I added some notes to explain what to do. If you want 1 full day, just set all StartHours to your start day hour and MaxBars to 1441. I have it set for all 3 sessions and MaxBars 151 (2.5 hours). This does NOT adjust for DST so remember that. I don't know what will happen if your GMTOffset is negative. Mine is 0 or 3. I did change the colors to match CCT and set ShowBarChart to False but you can easily change that (and recompile if you want).

If you set SessionStrength to False, it will show fixed period like 10 minutes (11), 60 minutes (61). Why do you have to add "1" to the number of bars? I don't know, I just got it working and stopped.

Attached File(s)
File Type: mq4 StrengthMeterSession.mq4   22 KB | 6,690 downloads
  • #200
  • Jul 16, 2014 6:38pm Jul 16, 2014 6:38pm
ericischroed
thank you for all your hard work


Quoting ericjschroed
Ok, here it is. I'm not the best programmer and I struggled to get it to do what I wanted so don't expect any suggestions to be added, unless it's really easy and I'm bored. If I screwed something up, I'll fix it. I added some notes to explain what to do. If you want 1 full day, just set all StartHours to your start day hour and MaxBars to 1441. I have it set for all 3 sessions and MaxBars 151 (2.5 hours). This does NOT adjust for DST so remember that. I don't know what will happen if your GMTOffset is negative. Mine is 0 or 3. I did change the...
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