BtB Strength ( Single ) - v0.50
Strength ( Single ) is a tool for manual trading. uses currencies crosses correlation to know the currency strength. It's a set of 44 MAs with different filters and modes for avoid false signals and control sensitivity
Strength its a mix between momentum and trend. Trend is given by MAs modes and momentum by crosses power.
Main role is filter signals of other indicators. It can be useful for trend begins confirmation.
1. Strength only can use forex symbols with full crosses ( AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD )
2. Accounts with missing crosses will show unbalanced strength. It is still usable but you will not have perfect signals
You have 2 calculation modes:
- Trend mode is MA directional approach. This mode give you a binary signals ( BUY and SELL )
- Strength mode is a MA directional with a second MA as filter. This mode give you a third signal ( NEUTRAL ). Depending filter MA settings this neutral can works like early change or delayed change
Formulas are modes for control sensitivity. You have 2 formulas per type.
Base uses base currency crosses ( 7 crosses ). This mode is faster because only get strength of lead group.
Base-Quote uses both currencies crosses ( 14 crosses ). This mode is slower because needs both groups of crosses go in opposite for give signals.
Every type have 2 formulas. Normal and Weighted. Every formula calculate every MA signal in different way. Normally Weighted is slower in reactions giving transitions smoother.
Strength Base Weighted
Strength Base-Quote Weighted
Strength ( Single ) have 44 MAs types. Depending your trading style you can use fast response MAs for scalping or smoother MAs for long term trading ( swings ).
Every MA have 2 fake filters and 1 volatility filter. Price type ( 20 types ) filter small price movements and DSS ( double smooth ) help to filter spikes and fast price movements.
Adaptative filter adapt MA period depending market conditions. Uses a swing frequency detector for get market volatility. This filter is good for speed up smoother MAs without losing smooth.
Histogram is a visual tool. You can see strength in the past getting a big picture how worked currency and what strong moments did swings.
Signal levels ( 50/75 )
Signal levels are used for notifications but can have a role in visual trading. Using max values below 100 you can avoid signals in points where price can swing.
PUSH notifications happens when strength is inside Signal levels. Outside levels signals are NEUTRAL and notifications are not send it.
Strength behaviour its a little different to momentum tools. It's more useful get early signals than direct signals. Even we can tune it for have similar momentum behaviour its more convenient get benefit of that early signals mixing with other tool.
Normally using Base formulas. The entry is taked when you enter in a BUY/SELL area and exits when historgram leave out.
Normally using Base-Quote formulas mixed with Strength/Velocity modes. The entry is taked when you leave from BUY/SELL area and exits when yuo leave at opposite area. You have small variations of this strategy depending symbol, TF and strength sensitivity
Zero cross ( NEW )
Using high TFs ( H4+ ) you can use zero cross historgram for entries/exits