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Best Currency Strength Meter and why?

  • #61
  • Feb 16, 2017 11:07am Feb 16, 2017 11:07am
Subscribed.Thanks and
Regards
  • #62
  • Feb 17, 2017 3:15am Feb 17, 2017 3:15am
[quote=JayRai;9566480]I am a bit overwhelmed by all of you that messaged me. Didn't expect it at all. But i must say that i am new at forexfactory and didn't knew what to expect from it. Just wanted to meet others, share some great ideas and/or share experiences. Also, the majority are retail traders. These days i am one of you again ;-) But with the experience as a fund manager (18 months), prop trader (13 months), investment banker (6 months). I got such nice emails and positive reactions, thanks for the warm welcome! However, there was 1 message that wasn't that nice. Just wanted to say to that person (no name calling) that i am not claiming that my approach is the best or that i have no other reason to join forexfactory than to brag. I am sharing my approach with respect to all others. I am not better than you or others.

Hello Jayrai, to say that I've learnt massively from reading your posts on FF would be a huge understatement. Your perspective and method of trading is fresh and very insightful not to mention simple. Please I do hope you start the thread next week because am so eager to learn more from obvious accumulated experience, especially from someone like you who has been there and done that.Pay no attention to the Naysayers,who often do nothing rather than spread negative energy everywhere. Sincerely pray you'll share your knowledge with a multitude of us willing to learn.
Thanks in advance.
  • #63
  • Feb 17, 2017 9:11am Feb 17, 2017 9:11am
For a start you may look at the indicators which are not rewriting/repainting. Many of such indicators actually do repaint/rewrite which makes them look very good in the past or even backtest, but disappoint going forward.
  • #65
  • Feb 18, 2017 6:12am Feb 18, 2017 6:12am
Bravo Jayrai........Eagerly waiting.
  • #66
  • Feb 18, 2017 10:04am Feb 18, 2017 10:04am
Quoting kosmo
Here's the best one. Surprisingly though, not many seem to know how to use it... {image}
Kosmo,

I reread the posts many times. Really overwhelmed by the information. Talk of synthetic pairs, not using Lite Forex's Currency Index, Holes in MT4 candles vis a vis no volumes etc... What i got from the thread was multiple iterations of the minor crosses before landing on the weakest or strongest one with reference to USD?

If you could please explain in layman's terms or a chart (may be with your above posted chart) it will be a great primer and I will be much obliged.

Thanks
  • #67
  • Feb 21, 2017 1:34am Feb 21, 2017 1:34am
Quoting JayRai
{quote} This i the most important thing.... I do not use 1 single report or position. I want to see that several banks do the same thing. So if there are 3 banks buying the kiwi against the greenback and one is selling, i consider the kiwi as stronger than the greenback. Then i see chances to sell EUR/NZD and buying the NZD/JPY for instance ;-) Because EUR and JPY are weak. Please do not see this as trade recommendation! I use this as an example
Jay Rai,

Waiting with anticipation for the new thread...

Thanks
  • #68
  • Feb 21, 2017 5:39am Feb 21, 2017 5:39am
Quoting aaven
{quote} Jay Rai, Waiting with anticipation for the new thread... Thanks
I am back at home on friday. I will try to use that weekend to start the thread!
  • #69
  • Feb 21, 2017 6:22am Feb 21, 2017 6:22am
Quoting JayRai
{quote} I am back at home on friday. I will try to use that weekend to start the thread!
Thanks JayRai for the quick response.
  • #70
  • Feb 21, 2017 6:31am Feb 21, 2017 6:31am
Quoting kosmo
Here's the best one. Surprisingly though, not many seem to know how to use it... {image}
I've got that one, all on 1 chart, so easy to trade USD now

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-02-21_22-30-09.png Size: 53 KB
It takes a lot for me to IGNORE you, but you can try.
  • #71
  • Feb 21, 2017 6:44am Feb 21, 2017 6:44am
Quoting Erebus
{quote} I've got that one, all on 1 chart, so easy to trade USD now {image}
Does the currency meter on your chart use difference for buy/sell signals and if what is the name of it?
Looking for profitable short term trades ...|
  • #72
  • Feb 21, 2017 7:16am Feb 21, 2017 7:16am
Quoting Js3mwtRc
{quote} Does the currency meter on your chart use difference for buy/sell signals and if what is the name of it?
Yes, just the difference of the values, and note is for the pair on the chart at the time

Should be able to find here at FF with a few searches

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-02-21_23-14-33.png Size: 48 KB
It takes a lot for me to IGNORE you, but you can try.
  • #73
  • Feb 21, 2017 7:26am Feb 21, 2017 7:26am
Quoting Js3mwtRc
{quote} Does the currency meter on your chart use difference for buy/sell signals and if what is the name of it?
Quoting Erebus
{quote} Yes, just the difference of the values, and note is for the pair on the chart at the time Should be able to find here at FF with a few searches {image}
http://www.forexfactory.com/showthre...67#post9557667
  • #74
  • Feb 21, 2017 7:46am Feb 21, 2017 7:46am
Quoting Botan626
{quote} {quote} http://www.forexfactory.com/showthre...67#post9557667
Interesting to see, that 'Currency Strength Giraia 28 pairs TRO MODIFIED' CSM and '1000pips Mini' CSM produce the same output.
Attached Image (click to enlarge)
Click to Enlarge Name: CSM.png Size: 42 KB
Attached File(s)
File Type: mq4 1000pips Mini.mq4   17 KB | 4,534 downloads
  • #75
  • Feb 21, 2017 9:01am Feb 21, 2017 9:01am
Quoting Erebus
{quote} I've got that one, all on 1 chart, so easy to trade USD now {image}
Hello Erebus,

I remember reading somewhere, the green and red dots, are they called volatility stops?

Thanks
  • #76
  • Feb 21, 2017 11:24am Feb 21, 2017 11:24am
Thanks for the help Erebus and Botan626.
Looking for profitable short term trades ...|
  • #77
  • Feb 22, 2017 3:37pm Feb 22, 2017 3:37pm
Quoting aaven
{quote} Hello Erebus, I remember reading somewhere, the green and red dots, are they called volatility stops? Thanks
NO, that FractalsMod as in the Indicator list
It takes a lot for me to IGNORE you, but you can try.
  • #78
  • Feb 22, 2017 3:55pm Feb 22, 2017 3:55pm
Quoting Botan626
Interesting to see, that 'Currency Strength Giraia 28 pairs TRO MODIFIED' CSM and '1000pips Mini' CSM produce the same output.
Giraia asked me to code his original indy based on the calculations in the XLS here, which was being widely used back in 2009. Looking at the code in '1000pips Mini', the programmer used the same formula.
  • #79
  • Edited 6:24pm Feb 22, 2017 6:04pm | Edited 6:24pm
Quoting JayRai
I am a bit overwhelmed by all of you that messaged me. Didn't expect it at all. But i must say that i am new at forexfactory and didn't knew what to expect from it. Just wanted to meet others, share some great ideas and/or share experiences. Also, the majority are retailtraders. These days i am one of you again ;-) But with the experience as a fund manager (18 months), prop trader (13 months), investment banker (6 months). I got such nice emails and positive reactions, thanks for the warm welcome! However, there was 1 message that wasn't that nice....
Everyone wants something for nothing.

So rather than using higher timeframes to indicate direction you use bank consensus and trade off that. But you have to pay to get that info. Hmmmmm

Retail traders were at such a disadvantage pre computer, pre internet. Now the gap has narrowed. Info that was not available to retail traders previously is now available if you know where to look.
You came here for the truth and let me unveil it for you
  • #80
  • Feb 22, 2017 8:00pm Feb 22, 2017 8:00pm
Quoting RondaRousey
{quote} Everyone wants something for nothing. So rather than using higher timeframes to indicate direction you use bank consensus and trade off that. But you have to pay to get that info. Hmmmmm Retail traders were at such a disadvantage pre computer, pre internet. Now the gap has narrowed. Info that was not available to retail traders previously is now available if you know where to look.
What are you trying to say?
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