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FFx Universal Strength Meter

  • #121
  • Nov 26, 2015 9:15am Nov 26, 2015 9:15am
Quoting FerruFx
{quote} If changing the parameters of an indicator wouldn't change its result, what would be the purpose of the parameters ? Anyway, if you think this FFx tool isn't right for you, I would highly suggest you to skip it ...
I believe that purpose of indicator should be to get reliable strength for currency...If changing parameters of indicator give different strength then everyone who wants to get long would change parameters of chosen indicator until they get green( big numbers) and everyone who wants to go short would change parameters of indicator until they get red ( small number)...So two persons have different strength for same currency ...Is that purpose of your strength indicator?....It shouldn't be ...
  • #122
  • Nov 26, 2015 9:22am Nov 26, 2015 9:22am
Quoting ruma29
{quote} I believe that purpose of indicator should be to get reliable strength for currency...If changing parameters of indicator give different strength then everyone who wants to get long would change parameters of chosen indicator until they get green( big numbers) and everyone who wants to go short would change parameters of indicator until they get red ( small number)...So two persons have different strength for same currency ...Is that purpose of your strength indicator?....It shouldn't be ...
Are you serious ? With all due respect, you seem very new to trading and don't even know what a period for indicator means.

Let's take a very simple example : according to what you are saying, if you plot a Moving Average 14 or 50, both should show the exact same line ... Right ? That's obviously not the case ...

The strength is the same. Why would you want the same result if you change the variables of the formula ?
MT4/MT5 EAs/Indicators/Alerts coder
  • #123
  • Nov 26, 2015 9:35am Nov 26, 2015 9:35am
Quoting ruma29
{quote} I believe that purpose of indicator should be to get reliable strength for currency...If changing parameters of indicator give different strength then everyone who wants to get long would change parameters of chosen indicator until they get green( big numbers) and everyone who wants to go short would change parameters of indicator until they get red ( small number)...So two persons have different strength for same currency ...Is that purpose of your strength indicator?....It shouldn't be ...
Based on your understanding, you'll have a looooong way before you find your edge in this market. Please do your own research to help you understand how most currency strength calculated, before you complaining here. Different formula or parameter will give different result. It's your own job to find the optimal parameter to be used on your trading.

Good luck.
  • #124
  • Nov 26, 2015 9:38am Nov 26, 2015 9:38am
Quoting pipmunks
{quote} Based on your understanding, you'll have a looooong way before you find your edge in this market. Please do your own research to help you understand how most currency strength calculated, before you complaining here. Different formula or parameter will give different result. It's your own job to find the optimal parameter to be used on your trading. Good luck.


Thank you for your help on this ... I am desperately trying to find examples to show he is wrong ... But it seems that my explanation is not well understood !
MT4/MT5 EAs/Indicators/Alerts coder
  • #125
  • Nov 26, 2015 10:14am Nov 26, 2015 10:14am
Im an infrequent visitor to Forums here on FF. bcs inevitable 99% is noise (as in ALL forums.).
However when a new trader aid (indicator) is published by FerruFx.. I gotta look.
And this new execution of admittedly an old idea is beautifully crafted.
As always. Your code never disappoints.
  • #126
  • Nov 26, 2015 10:18am Nov 26, 2015 10:18am
Quoting cliffedwards
Im an infrequent visitor to Forums here on FF. bcs inevitable 99% is noise (as in ALL forums.). However when a new trader aid (indicator) is published by FerruFx.. I gotta look. And this new execution of admittedly an old idea is beautifully crafted. As always. Your code never disappoints.
Thank you for your kind comments and confidence.
MT4/MT5 EAs/Indicators/Alerts coder
  • #127
  • Nov 26, 2015 10:56am Nov 26, 2015 10:56am
FerruFX, I always have admired your design of indicators,
under all the years of trading and testing new indicators here on ff,
I have never seen anything come even close in comparision to the slickness,
I don't know how you do it, but your indicators just looks sick!
they are not only usable but also so beautiful.
Bulls are stupid Animals!especially when Im short!
  • #128
  • Nov 26, 2015 4:17pm Nov 26, 2015 4:17pm
Quoting FerruFx
{quote} Thank you for your kind comments and confidence.
Hi Ferru,

Any progress with the font colours, just white only would be useful. My eyes are not what they used to be LOL.
It never gets easier, you just get better
  • #129
  • Nov 26, 2015 5:39pm Nov 26, 2015 5:39pm
Quoting roughtrader
FerruFX, I always have admired your design of indicators, under all the years of trading and testing new indicators here on ff, I have never seen anything come even close in comparision to the slickness, I don't know how you do it, but your indicators just looks sick! they are not only usable but also so beautiful.
Thank you
MT4/MT5 EAs/Indicators/Alerts coder
  • #130
  • Nov 26, 2015 5:41pm Nov 26, 2015 5:41pm
Quoting Shabs19
{quote} Hi Ferru, Any progress with the font colours, just white only would be useful. My eyes are not what they used to be LOL.
No progress for now but I will in a future upgrade.
MT4/MT5 EAs/Indicators/Alerts coder
  • #131
  • Nov 26, 2015 8:39pm Nov 26, 2015 8:39pm
Hi FerruFX, just wanted to say thanks for creating and sharing this indicator. Much appreciated. Best wishes to you. Thanks
  • #132
  • Nov 26, 2015 10:34pm Nov 26, 2015 10:34pm
Quoting JayS45
Hi FerruFX, just wanted to say thanks for creating and sharing this indicator. Much appreciated. Best wishes to you. Thanks
MT4/MT5 EAs/Indicators/Alerts coder
  • #133
  • Dec 5, 2015 4:19am Dec 5, 2015 4:19am
Beautiful. I've been using it since last week and I am extremely satisfied with it. Elegant, simple and easy on the eyes. Top notch job, one of the most useful indicators I have ever used.

Thank you FerruFX.
Invincibility lies in the defence; the possibility of victory in the attack
  • #134
  • Dec 5, 2015 5:17am Dec 5, 2015 5:17am
Quoting BBalazs
Beautiful. I've been using it since last week and I am extremely satisfied with it. Elegant, simple and easy on the eyes. Top notch job, one of the most useful indicators I have ever used. Thank you FerruFX.
Thank you for your kind comments.
MT4/MT5 EAs/Indicators/Alerts coder
  • #135
  • Dec 11, 2015 3:53am Dec 11, 2015 3:53am
I have a question FerruFX, if you don't mind.

I really like the option you gave us to choose from different indicators from which the USM calculates each currency's strength results. But I wonder, given we use relatively same settings, which one of the available indicators is the most responsive? I would say OsMA, but I might be wrong.

Thank you for the indicator, again.

Regards
Balazs
Invincibility lies in the defence; the possibility of victory in the attack
  • #136
  • Dec 11, 2015 3:57am Dec 11, 2015 3:57am
Excellent work. Thank you.
  • #137
  • Dec 11, 2015 3:59am Dec 11, 2015 3:59am
Quoting BBalazs
I wonder, given we use relatively same settings, which one of the available indicators is the most responsive?
Obviously the most responsive is the price. About the indicators, this would be your personal choice. If you are used to OsMA, them try it ... maybe play with its settings to find the ones fitting your trading style and risk.

Also to increase/decrease the responsiveness, you can play with the strength period.
MT4/MT5 EAs/Indicators/Alerts coder
  • #138
  • Dec 11, 2015 4:20am Dec 11, 2015 4:20am
Quoting FerruFx
{quote} Obviously the most responsive is the price. About the indicators, this would be your personal choice. If you are used to OsMA, them try it ... maybe play with its settings to find the ones fitting your trading style and risk. Also to increase/decrease the responsiveness, you can play with the strength period.
Yep, I am using mainly PA to find setups, your indicator helps me to concentrate on pairs that are currently trending. Anyway, I think I stick with OsMA for now, thank you for the answer.

Have a nice day.
Invincibility lies in the defence; the possibility of victory in the attack
  • #139
  • Dec 11, 2015 4:30am Dec 11, 2015 4:30am
Quoting BBalazs
{quote} Yep, I am using mainly PA to find setups, your indicator helps me to concentrate on pairs that are currently trending. Anyway, I think I stick with OsMA for now, thank you for the answer. Have a nice day.
MT4/MT5 EAs/Indicators/Alerts coder
  • #140
  • Dec 12, 2015 9:52am Dec 12, 2015 9:52am
Quoting FerruFx
{image} Dear FF traders, Heres a new tool Ive developed these past few months. The FFx Universal Strength Meter.
Dear Ferru. I like to have your view on the strength modes.

If we use ADX as our calculation method, does the 'strongest' reading suggesting that the ccy is trending the most? And the weakest reading suggesting the ccy is the most not moving ccy?

Thank you.
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