Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
{quote} yes Jibala please post the excel. thank you!
Thank you ....
Stay hungry to be free...
good - better - the best - GAP TRADING! It seems these guys are working around the clock always looking to beat the best.{image} {image} {image} A big GAP (last value blue pointer) on JPY while the other 4 currencies did increase. This new feature is very important, a must have, since I can't remember always the last value and I don't want to take a screenshot all the time. Wish you all a very green week.
I suppose that the blue needle represents the absolute strength value of the currency at time "X", right?
Since the "gap" is calculated as the difference of BuySell ratio from now compared to time "X" this is only another form of presenting the condition that has to be met in order to place a trade.
Example:
1.) Current absolute strength of EUR > absolute strength of EUR at time "X" and
2.) Current absolute strength of USD < absolute strength of USD at time "X".
Conclusion: EUR is getting stronger, USD is getting weaker => buy EURUSD (given that other conditions are met i.e. correlation, Fibo levels, BRN, news, DO etc.)
The use of speedometer is a graphical solution that enables the trader to get a quick overview of the current situation and possible trades. Am I right?
- #486
- Nov 9, 2015 8:58pm Nov 9, 2015 8:58pm
- Joined Jun 2014 | Status: Trader | 2,498 Posts
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
{quote} Absolutely correct! Like other CSM's with a little arrow beside the digits. Big advantage for me, for the specified time frame I always know and see its last position, I neither have to remember any values nor to compare them.
I guess you still use an update intervall (timer) of 30 minutes for the absolute strength value, right? Synchronized to the M30 chart.
- #488
- Nov 10, 2015 3:16am Nov 10, 2015 3:16am
- Joined Jun 2014 | Status: Trader | 2,498 Posts
{quote} Thanks for confirming my thoughts.
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
Hi,
I tried to look different to strength based on gaps.
The result is an indi. See picture below.
Strength and gaps are calculated for 4 timeframes M15, M30, H1 and H4. Period = 3.
Is a setting.
For every pair f.i. EURUSD i take GAPeur - GAPusd and check if it crosses the zero line.
This i do for all 28 pairs for the 4 time frames for actual bar and previous bar.
For every currency I count the zero crossings, up cross is plus and down cross is minus.
If for a pair the result of the two currencies > 20 or < -20 the pair will get my attention.
If the value exceeds +/- 25 then i start checking strength table D0.
The best situation is, if at this values if both currencies are symmetrical like +10 and -15.
Very often the two currencies of this particular pair are not at the top or the bottom of the D0 strength table..
But the upper currency of the pair in the strength table is already going down and the lower currency of the pair is already going up.
Then this is a good moment for a trade, beside i check also some other chart. For me look for most conditions of Udine setup.
Br 
I tried to look different to strength based on gaps.
The result is an indi. See picture below.
Strength and gaps are calculated for 4 timeframes M15, M30, H1 and H4. Period = 3.
Is a setting.
For every pair f.i. EURUSD i take GAPeur - GAPusd and check if it crosses the zero line.
This i do for all 28 pairs for the 4 time frames for actual bar and previous bar.
For every currency I count the zero crossings, up cross is plus and down cross is minus.
If for a pair the result of the two currencies > 20 or < -20 the pair will get my attention.
If the value exceeds +/- 25 then i start checking strength table D0.
The best situation is, if at this values if both currencies are symmetrical like +10 and -15.
Very often the two currencies of this particular pair are not at the top or the bottom of the D0 strength table..
But the upper currency of the pair in the strength table is already going down and the lower currency of the pair is already going up.
Then this is a good moment for a trade, beside i check also some other chart. For me look for most conditions of Udine setup.
Br
It is not important how often you fall down, but how often you get up again
Hi, I tried to look different to strength based on gaps. The result is an indi. See picture below. Strength and gaps are calculated for 4 timeframes M15, M30, H1 and H4. Period = 3. Is a setting. For every pair f.i. EURUSD i take GAPeur - GAPusd and check if it crosses the zero line. This i do for all 28 pairs for the 4 time frames for actual bar and previous bar. For every currency I count the zero crossings, up cross is plus and down cross is minus. If for a pair the result of the two currencies > 20 or < -20 the pair will get my attention. If...
Great job emonts.
Hi,
First you have to put the news indi, which is a .mqh file in the include directory.
The following indi you must move into a chart, doesn't matter which on. Just take a new chart.
This indi does several strength and gap calculations for 6 TF's.
Default M5...D1. I'm not sure/tested for M1.
For every TF the period/lookback=3. Period can be changed.
The indi saves all values in global parameters. These globals are used by the indi.
This way CPU capacity is saved. It is easy to make new indi's based on this globals without doing this calculations over and over again.
For now only .ex4 file, because i have to clean up the code and to describe the global parameter names.
The indi puts a message on the chart, to find him back if you forgot in which chart you put him.
Message can be positioned on the chart.
Next is the indi, you can put in any chart of your choice.
This indi uses the TF's; TF_2, TF_3, TF_4 and TF_5 of the above mentioned indi.
The other two indi's are modified versions of the CM_strength. Uploaded by GVC or HP.
I'm not sure.
One is a one to one copy with only a border (D0 version), the other one you can set TF and period.
Hope i forgot nothing
BR
First you have to put the news indi, which is a .mqh file in the include directory.
The following indi you must move into a chart, doesn't matter which on. Just take a new chart.
This indi does several strength and gap calculations for 6 TF's.
Default M5...D1. I'm not sure/tested for M1.
For every TF the period/lookback=3. Period can be changed.
The indi saves all values in global parameters. These globals are used by the indi.
This way CPU capacity is saved. It is easy to make new indi's based on this globals without doing this calculations over and over again.
For now only .ex4 file, because i have to clean up the code and to describe the global parameter names.
The indi puts a message on the chart, to find him back if you forgot in which chart you put him.
Message can be positioned on the chart.
Next is the indi, you can put in any chart of your choice.
This indi uses the TF's; TF_2, TF_3, TF_4 and TF_5 of the above mentioned indi.
The other two indi's are modified versions of the CM_strength. Uploaded by GVC or HP.
I'm not sure.
One is a one to one copy with only a border (D0 version), the other one you can set TF and period.
Hope i forgot nothing
BR
It is not important how often you fall down, but how often you get up again
- #496
- Nov 11, 2015 4:07am Nov 11, 2015 4:07am
- Joined Jun 2014 | Status: Trader | 2,498 Posts
Hi, First you have to put the news indi, which is a .mqh file in the include directory. {file} The following indi you must move into a chart, doesn't matter which on. Just take a new chart. This indi does several strength and gap calculations for 6 TF's. Default M5...D1. I'm not sure/tested for M1. For every TF the period/lookback=3. Period can be changed. The indi saves all values in global parameters. These globals are used by the indi. This way CPU capacity is saved. It is easy to make new indi's based on this globals without doing this calculations...
But what I could see, if you wait until +/- 25 it might be late already. I checked against our signals and +/- 13 - 15 is very good as entry, but not for all pairs! This is something the users must get a feeling for it, hence trial and error. Fact is, I wouldn't have made them all, just 2 of it! (Tokyo session)
Recommendations: See screen below. It's important to have information at hand. It doesn't make a sense to switch between charts just to open an order. I don't know if this can be solved with HP's BDM, didn't try it even.
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
- #497
- Edited 4:46am Nov 11, 2015 4:33am | Edited 4:46am
{quote} Great work emonts, this is a nice tool which can help to determine and choose the right pairs.
Hi JibalaPasan,
thank you very much for your quick response.
I'm using now three days, and for me now is getting experience with it.
What I did see that this tool give sometimes complete different ranking then the basic strength tools we are using.
With different i mean more a kind of early warning.
I'm working on my own kind of DB, based on Udines indi and several strength indi/calculations.
But it is work in progress.
See picture below
The idea for the 4 gray small db"s on the right side. I got the idea from other trhread. It is just a ranking of change in percentage.
Up to now i'm not sure if really helpfool and DB strength and DB gap more or less same info. Time will learn us.
So i did put it here just for the case that others can use too and give feedback too improve the tool.
BR
Huub
PS. Your remark about +/-25 and the +/- 13-15. I substract base value and quote value from each other. So 2x 13/15 is roughly +/- 25. But i will do a check if we talk about the same.
It is not important how often you fall down, but how often you get up again
- #498
- Edited 6:44am Nov 11, 2015 4:53am | Edited 6:44am
- Joined Jun 2014 | Status: Trader | 2,498 Posts
{quote} Hi JibalaPasan, thank you very much for your quick response. I'm using now three days, and for me now is getting experience with it. What I did see that this tool give sometimes complete different ranking then the basic strength tools we are using. With different i mean more a kind of early warning. I'm working on my own kind of DB, based on Udines indi and several strength indi/calculations. But it is work in progress. See picture below {image} The idea for the 4 gray small db"s on the right side. I got the idea from other trhread. It is...
I just got a nice opportunity. My candidates EURGBP & GBPCHF (automated) to compare with the tool.
Just some minutes later:
See how it looks in the tool!
And finally the result!
I had a nice day again and I hope you too!
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
