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Pair Strength Analyzer indicator

  • #121
  • Nov 16, 2015 7:48pm Nov 16, 2015 7:48pm
Quoting aftabshuvo
{quote} thanks again... brother how to update data every 1 second? i saw that it updates 1 minutes at least.... cab it update 1 sec? or custom minutes?
You can set RefreshPeriod to T and the indicator will update on every new price tick. But the indicator performs a large number of calculations, hence this could potentially slow MT4 and your computer down dramatically.

Setting RefreshPeriod to M1 will cause the indicator to update every minute, every time a new candle starts to form on the M1 chart.
  • #122
  • Nov 16, 2015 11:52pm Nov 16, 2015 11:52pm
Quoting hanover
{quote} You can set RefreshPeriod to T and the indicator will update on every new price tick. But the indicator performs a large number of calculations, hence this could potentially slow MT4 and your computer down dramatically. Setting RefreshPeriod to M1 will cause the indicator to update every minute, every time a new candle starts to form on the M1 chart.
Thank you dear
  • #123
  • Nov 18, 2015 6:37am Nov 18, 2015 6:37am
Quoting hanover
{quote} You can set RefreshPeriod to T and the indicator will update on every new price tick. But the indicator performs a large number of calculations, hence this could potentially slow MT4 and your computer down dramatically. Setting RefreshPeriod to M1 will cause the indicator to update every minute, every time a new candle starts to form on the M1 chart.
Sorry for asking too many questions.....
i need a strength meter like yours or like CS dashboard...it calaculates current price from a shifted moving average....a meter shows current price from a moving average and direction...can you please suggest m something like these type of indicators?
it will be great useful for me...
thank you
  • #124
  • Nov 18, 2015 6:41am Nov 18, 2015 6:41am
and also i need to learn from you guys that.....in M5 timframe how can i understand markets situation and direction which should i follow or trade.......
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  • #125
  • Nov 18, 2015 12:06pm Nov 18, 2015 12:06pm
Quoting aftabshuvo
i need a strength meter like yours or like CS dashboard...it calaculates current price from a shifted moving average....a meter shows current price from a moving average and direction...can you please suggest m something like these type of indicators?
There are dozens of strength meters available for MT4. I've compiled list of some of these here (see the text in green typeface). I haven't tested most of these, you would need to try them for yourself. FerruFX's strength meter is very versatile; you can base the calculation on many different indicators, and different timeframes. Good luck.

Quote
and also i need to learn from you guys that.....in M5 timframe how can i understand markets situation and direction which should i follow or trade.......
I use currency strength on longer timeframes only, as I use it to confirm macroeconomically backed trends.

However, this thread might help you. These folk appear to be trading short timeframes intraday. Perhaps start with posts by HotPotato and JibalaPasan.
  • #126
  • Nov 18, 2015 12:38pm Nov 18, 2015 12:38pm
Quoting hanover
{quote} There are dozens of strength meters available for MT4. I've compiled list of some of these here (see the text in green typeface). I haven't tested most of these, you would need to try them for yourself. FerruFX's strength meter is very versatile; you can base the calculation on many different indicators, and different timeframes. Good luck. {quote}I use currency strength on longer timeframes only, as I use it...
thank you bro

may i have some important trading systems links that must be followed?

and the critical facts that cause markets to move........

i have to say that i feel great posting on this thread........
  • #127
  • Nov 18, 2015 3:00pm Nov 18, 2015 3:00pm
Quoting aftabshuvo
may i have some important trading systems links that must be followed?
Please read this post.

Quote
and the critical facts that cause markets to move........
Here is a good thread on macroeconomics. Also, you can follow Jarratt Davis' free material on FPA without signing up for anything.
  • #128
  • Nov 19, 2015 4:26am Nov 19, 2015 4:26am
Quoting hanover
{quote} Please read this post. {quote} Here is a good thread on macroeconomics. Also, you can follow Jarratt Davis' free material on FPA without signing up for anything.
thanks a lot...... these really helps me a lot
  • #129
  • Dec 5, 2015 5:31pm Dec 5, 2015 5:31pm
Made a couple of minor enhancements. See post #1 for download files and more info.
  • #130
  • Edited 5:54am Jan 19, 2016 4:35am | Edited 5:54am
After reading in first post, edited

Hi Hanover just came to my mind what could be a usefull modification in PSA.

The option to highlight the PAIR which has got the closest value to AVERAGE VALUE.

For example i would not be interested at all in pairs which are under this average value.

--

Maybe other ways of filtering the list would be better based on values (eg. show only if value abowe 1000 , or show onnly if value abouve 40% average)
  • #131
  • Edited 11:20pm Jan 19, 2016 3:34pm | Edited 11:20pm
Quoting ffpriceactio
just came to my mind what could be a usefull modification in PSA. The option to highlight the PAIR which has got the closest value to AVERAGE VALUE. For example i would not be interested at all in pairs which are under this average value. -- Maybe other ways of filtering the list would be better based on values (eg. show only if value abowe 1000 , or show onnly if value abouve 40% average)
No problem.

I don't plan on upgrading PSA at the moment, but I'll consider your ideas if/when I get around to implementing a new release.
  • #132
  • Edited 4:37pm Jan 20, 2016 4:06pm | Edited 4:37pm
Settings fo instance 1:
TF: H1,H4,D1
Weights:1,1,1

Settings fo instance 2:
TF: H1,H4,D1
Weights:1,2,3

Instance 2 show less sensitivee value to shorter TF fluctuations. Instance 1 - more sensitive. The differences between them - what they indicate ? When a PAIR in Instanstce 1 drops down in ranking but on instance 2 does not drop - it means correction. In opposite sitaution PAIR climbs up in instance 1 but on instance 2 does not climb - it means OBOS zone.

What would you say ? I am not good in math
  • #133
  • Edited 11:25am Jan 21, 2016 2:59am | Edited 11:25am
Quoting ffpriceactio
Settings fo instance 1: TF: H1,H4,D1 Weights:1,1,1 Settings fo instance 2: TF: H1,H4,D1 Weights:1,2,3.........
Instance 2 show less sensitivee value to shorter TF fluctuations. Instance 1 - more sensitive.
Agree.

The differences between them - what they indicate ?
I'm not completely sure.

When a PAIR in Instanstce 1 drops down in ranking but on instance 2 does not drop - it means correction.
Probably means that there has been a short term fall, but I would expect instance 2 to drop also, albeit to a lesser extent. That is because a fall in price will cause a decrease in slope of the regression lines in all timeframes.

In opposite sitaution PAIR climbs up in instance 1 but on instance 2 does not climb - it means OBOS zone. What would you say ?
Probably means that there has been a short term rise, but I would expect instance 2 to rise also, albeit to a lesser extent. That is because a rise in price will cause an increase in slope of the regression lines in all timeframes. You would need to check the price chart to see if it meets your definition of an OBOS zone.

PSA was designed to compare strength of one pair relative to other pairs, or strength of one currency relative to other currencies. If you want to see what one pair is doing -- rising, falling, in OBOS zone, etc -- there's no need for PSA, simply look at that pair's price chart.
  • #134
  • Jan 21, 2016 4:13am Jan 21, 2016 4:13am
Thanks Hanover, it is more clear.

Settings:

Settings fo instance 1:
TF: H1,H4,D1
Weights:1,1,1


Settings fo instance 2:
TF: H1,H4,D1
Weights:1,2,3


We know that:
- Drop in ranking means PAIR's behaviour is less trendy (more choppy than "bar ago"). We call it "correction". Climb in ranking - the opposite ("trend").
- At the same time ranking of PAIR in Instance 2 is also moving, however to a lesser extent (and following the move of ranking PAIR observed on Instance 1).

--
What would mean when - the value (%) of a PAIR in ranking in Instance 1 rises above the value (%) of a PAIR in ranking in Instance 2 ? Does it make sense to make it additional confirmation of trendy conditions ?
  • #135
  • Jan 21, 2016 11:24am Jan 21, 2016 11:24am
Quoting ffpriceactio
What would mean when - the value (%) of a PAIR in ranking in Instance 1 rises above the value (%) of a PAIR in ranking in Instance 2 ? Does it make sense to make it additional confirmation of trendy conditions ?
The numbers represent the average slope of a number of regression lines. They have no real meaning in themselves. Hence comparing a value in instance 1 with a value in instance 2 makes no real sense.

Comparing changes in value of the same instance over time might have some meaning, as explained in post #133. For example, if yesterday GBPJPY had a value of 180, but today it has a value of 150, then it has lost strength. But like I said, the PSA was not intended to be used in this way, there is more info to be gained by simply looking at the price chart itself. (You could see from the GBPJPY chart that the price has fallen). A picture paints a thousand words.

PSA was designed to compare strength of one pair relative to other pairs, or strength of one currency relative to other currencies -- in the same instance. So if GBPJPY has a value of 100, and GBPUSD has a value of 80, in the same instance of the indicator, then GBPJPY is currently trending upward more strongly than GBPJPY.
  • #136
  • Jan 21, 2016 2:21pm Jan 21, 2016 2:21pm
Great. Hanover - i am all clear now. I was amazed by this metodology and wanted to squeeze as much as possible. Thank you again for indicator
BEST
  • #137
  • Feb 22, 2016 8:43am Feb 22, 2016 8:43am
Great indicator. A new stand alone system can be build from this.
  • #138
  • Feb 23, 2016 2:40am Feb 23, 2016 2:40am
Quoting aftabshuvo
{quote} hello guys, I have a request to all to help me. I want to trade in binary options. i have analysed a lot and lastly i found that strength meter works better than other indicators to predict instantly...but i feel confused and cant gain full confidence to trade..because i dont want lose all my money and i also dont want a huge profit.i am happy if i get only $20 in a day..i dont like martingale strategy as well. can u please help me to go ahead please....i also found a place where money is safe.and i checked that they are good as long as...
Hi, could you share the name of the meter that you were using in the bottom right corner of your screenshot or a link to where I can find it?

Thanks
It's time we stop entertaining ourselves and start realizing ourselves!
  • #139
  • Mar 1, 2016 8:54am Mar 1, 2016 8:54am
Quoting hanover
{quote} The numbers represent the average slope of a number of regression lines. They have no real meaning in themselves. Hence comparing a value in instance 1 with a value in instance 2 makes no real sense. Comparing changes in value of the same instance over time might have some meaning, as explained in post #133. For example, if yesterday GBPJPY had a value of 180, but today it has a value of 150, then it has lost strength. But like I said, the PSA was not intended to be used in this way, there is more info to be gained by simply looking at the...
Thank you for sharing this beautiful indicator.

Attached Image


Using PSA makes my day.
  • #140
  • Mar 1, 2016 5:37pm Mar 1, 2016 5:37pm
Quoting redwed
Thank you for sharing this beautiful indicator.
Glad you like it.
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