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FFx Universal Strength Meter

  • #141
  • Dec 12, 2015 10:02am Dec 12, 2015 10:02am
Quoting redwed
{quote} 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.
ADX is based on +DI/-DI ... so the strength suggest the direction.
MT4/MT5 EAs/Indicators/Alerts coder
  • #142
  • Dec 23, 2015 5:37pm Dec 23, 2015 5:37pm
Hi Ferru,

Just discovered your FFx Universal Strength Meter and its awesome!!
I was trying to get a Confluence of the different indicator settings (MA, RSI, etc. with different TF settings) and it tends to overcrowd the Main Charting Window. I would like to suggest that if its possible to place this awesome indy on a separate chart window to reduce clutter on the main chart.

Thanks again for your genius.

Your fan,

grammer
  • #143
  • Dec 23, 2015 5:46pm Dec 23, 2015 5:46pm
Quoting grammer
Hi Ferru, Just discovered your FFx Universal Strength Meter and its awesome!! I was trying to get a Confluence of the different indicator settings (MA, RSI, etc. with different TF settings) and it tends to overcrowd the Main Charting Window. I would like to suggest that if its possible to place this awesome indy on a separate chart window to reduce clutter on the main chart. Thanks again for your genius. Your fan, grammer
Noted in case of future release ...

Thank you for your confidence.
MT4/MT5 EAs/Indicators/Alerts coder
  • #144
  • Jan 1, 2016 5:38am Jan 1, 2016 5:38am
Hello Ferrufx,
nice work.

I had to log on just to say so.
This indicator and your multi-indic watcher are fantastic. Been looking for something like this.

Great job.

Just a thought, can email alerts be added to trigger when a currency or currencies go above or below a specified user threshold?
eg. Gbp goes below 3, it sends an email.

maybe this is me just getting lazy..
great work.
It is possible to make large sums trading, small losses, large wins
  • #145
  • Jan 1, 2016 6:35am Jan 1, 2016 6:35am
Quoting omadivi
Hello Ferrufx, nice work. I had to log on just to say so. This indicator and your multi-indic watcher are fantastic. Been looking for something like this. Great job. Just a thought, can email alerts be added to trigger when a currency or currencies go above or below a specified user threshold? eg. Gbp goes below 3, it sends an email. maybe this is me just getting lazy.. great work.
Thank you for your kind comments.

I sent you a PM about the email thing.
MT4/MT5 EAs/Indicators/Alerts coder
  • #146
  • Jan 7, 2016 7:02pm Jan 7, 2016 7:02pm
FerruFX,

Just found this little jewel.... Thanks so much for your dedication and hard work, not just here, but throughout the FF as it's much appreciated....

Regards,
Cigarguy
Keep It Simple
  • #147
  • Jan 7, 2016 8:38pm Jan 7, 2016 8:38pm
Quoting cigarguy
FerruFX, Just found this little jewel.... Thanks so much for your dedication and hard work, not just here, but throughout the FF as it's much appreciated.... Regards, Cigarguy
Glad you like it ... Thank you for your kind comment.
MT4/MT5 EAs/Indicators/Alerts coder
  • #148
  • Jan 21, 2016 2:37am Jan 21, 2016 2:37am
Thank you Ferrufx for this wonderful indicator...
can you please tell me when attaching it in renko charts how the strength period calculation is done? cause renko is based on price action (10 pip per box) not time frame.

Thank you...
  • #149
  • Jan 21, 2016 3:48am Jan 21, 2016 3:48am
Quoting SvK88
Thank you Ferrufx for this wonderful indicator... can you please tell me when attaching it in renko charts how the strength period calculation is done? cause renko is based on price action (10 pip per box) not time frame. Thank you...
The calculation is not specific to the chart it is applied on ... but on the timeframe chosen in the inputs.

The strength calculation is based on the X periods back according to your Strength Period setting. Example if you set Strength Period = 24, the calculation will be based on the last 24 bars back on the chosen timeframe.
MT4/MT5 EAs/Indicators/Alerts coder
  • #150
  • Jan 22, 2016 1:02am Jan 22, 2016 1:02am
Quoting FerruFx
{quote} The calculation is not specific to the chart it is applied on ... but on the timeframe chosen in the inputs. The strength calculation is based on the X periods back according to your Strength Period setting. Example if you set Strength Period = 24, the calculation will be based on the last 24 bars back on the chosen timeframe.
Thank You Ferru fx..... if i set the period to 0 then will it calculate all the previous bars?
  • #151
  • Jan 22, 2016 4:39pm Jan 22, 2016 4:39pm
Hi FerruFx,
I just found this, and I want to thank you... It is lightweight and works great!
  • #152
  • Jan 22, 2016 5:37pm Jan 22, 2016 5:37pm
Quoting JohnnyR
Hi FerruFx, I just found this, and I want to thank you... It is lightweight and works great!
MT4/MT5 EAs/Indicators/Alerts coder
  • #153
  • Jan 22, 2016 5:39pm Jan 22, 2016 5:39pm
Quoting SvK88
{quote} Thank You Ferru fx..... if i set the period to 0 then will it calculate all the previous bars?
0 will calculate nothing. Like if you set a MA period 0 ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #154
  • Jan 23, 2016 12:26am Jan 23, 2016 12:26am
Please sir assist me in adding alert and push notifications to an indicator
  • #155
  • Jan 23, 2016 12:59am Jan 23, 2016 12:59am
Wow thank you
  • #156
  • Jan 23, 2016 3:38pm Jan 23, 2016 3:38pm
Hi Ferrux,

Thanks for the indicators..its really useful to find the strength and weak currency, but I got some question to ask abt the indicator. Below are the question:-
1) Strength Period - By default the strength period is 24 (means it takes the last 24 bars to calculate), so what is the difference between period below of the indicator? For example:-
Let say when I select the RSI indicator and set the Strength period to 24 and RSI period to 14...which parameter the FX USM indicator will consider? I get different result when I select (Strength period to 24, RSI period to 14 and Strength period to 14, RSI period to 14). Refer below attachments..

a) Strength period to 24, RSI period to 14
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 56 KB


b) Strength period to 14, RSI period to 14
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 70 KB


2) Is the FX USM indicator consider current bar when calculating?

3) For price candle indicator, you mentioned that you use High/Low Price, can you make another indicator for price candles which use Open/Close price? The reason is when using Open/Closed price we can get more strength for the currency compared to High/Low (because in High/Low there are some price rejection from Buyer/Seller)..it's from my view only.

Looking forward for your reply.

Regards,
  • #157
  • Jan 23, 2016 5:38pm Jan 23, 2016 5:38pm
Quoting jupitertrade
Hi Ferrux, Thanks for the indicators..its really useful to find the strength and weak currency, but I got some question to ask abt the indicator. Below are the question:- 1) Strength Period - By default the strength period is 24 (means it takes the last 24 bars to calculate), so what is the difference between period below of the indicator? For example:- Let say when I select the RSI indicator and set the Strength period to 24 and RSI period to 14...which parameter the FX USM indicator will consider? I get different result when I select (Strength...
1/ The strength period is for the strength calculation ... while the indicator period is for the indicator calculation.

2/ The strength is calculated from the current candle until X periods back.

3/ Will see in case of a new released
MT4/MT5 EAs/Indicators/Alerts coder
  • #158
  • Jan 25, 2016 12:27am Jan 25, 2016 12:27am
I'm thinking of building an EA based on this indicator.. if anyone interested we can share some ideas and build a good EA...
  • #159
  • Jan 26, 2016 12:43am Jan 26, 2016 12:43am
Quoting FerruFx
{quote} 1/ The strength period is for the strength calculation ... while the indicator period is for the indicator calculation. 2/ The strength is calculated from the current candle until X periods back. 3/ Will see in case of a new released
Hi Ferrux,

Thanks for the reply.

1/ The strength period is for the strength calculation ... while the indicator period is for the indicator calculation
How the strength is calculated? Is it using the 18 different standard indicators from the drop down menu (Eg. RSI, MACD,MA,....).

2/ The strength is calculated from the current candle until X periods back.
In future release could include "Use Current Candle" (True/False) as a selection parameters.

3/ Will see in case of a new released
Waiting for the new release.

Regards
  • #160
  • Jan 29, 2016 1:11pm Jan 29, 2016 1:11pm
Hi FerruFx,

this seems to be a very nice indicator.
Is there a chance you will also publish its Mt5 version?


Greetings
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