Hello all,
I just had a moment of clarity trying to figure out what kind of pair strength indicator I wanted to have on my charts. I was hoping to find someone to program my new idea.
So as we all know strength indicators come a dime a dozen. I'm looking for something I don't believe has been done before. I'm not looking for a dash system with a centralized hub for all of the 28 pair strengths but I am looking for a small dash to go onto each chart. I liked the idea of measuring distance from the moving average as in MADdash, and I think that is a great way of measuring strength, but as part of the strength calculation I would like to see the $/pip variable integrated.
For example on some currencies a pip will make 7 cents USD while other pairs might make as much as 15 cents USD. I don't think the strength indicator can be called "comprehensive" unless we take into account the variation of $/pip from one pair to the next.
With this being said, the dash I am looking for will enable the user to select up to 4 or 5 time frames for the analysis of the pair's rank as it is compared to other pairs in the same time frame. The final rank value would have to integrate the $/pip idea.
This way, pairs that move allot but do not generate a large $/pip won't have a mistaken advantage over pairs with a higher $/pip given the same MAD (moving average distance).
Can someone help?
I just had a moment of clarity trying to figure out what kind of pair strength indicator I wanted to have on my charts. I was hoping to find someone to program my new idea.
So as we all know strength indicators come a dime a dozen. I'm looking for something I don't believe has been done before. I'm not looking for a dash system with a centralized hub for all of the 28 pair strengths but I am looking for a small dash to go onto each chart. I liked the idea of measuring distance from the moving average as in MADdash, and I think that is a great way of measuring strength, but as part of the strength calculation I would like to see the $/pip variable integrated.
For example on some currencies a pip will make 7 cents USD while other pairs might make as much as 15 cents USD. I don't think the strength indicator can be called "comprehensive" unless we take into account the variation of $/pip from one pair to the next.
With this being said, the dash I am looking for will enable the user to select up to 4 or 5 time frames for the analysis of the pair's rank as it is compared to other pairs in the same time frame. The final rank value would have to integrate the $/pip idea.
This way, pairs that move allot but do not generate a large $/pip won't have a mistaken advantage over pairs with a higher $/pip given the same MAD (moving average distance).
Can someone help?
