I've recently created quite powerful indicator using xxxxx website community and want to share it.
The idea is to use a portfolio of successful traders to
determine a moment when to trade EURUSD. Every time if someone has EURUSD or
any EUR cross long position we assign +1 to this trader and -1 in case of short
one. Then we sum these numbers (50 traders) to get EURUSD Index. If it’s more
than +20 we hold EURUSD long next day (one daily bar), less than -20 short.
Please have a look at the attached figure. There was long on April 9, April 11,
April 16, April 22, April 25 and April 30; short on April 23. So far the
performance looks very good. No doubt it's just six weeks but I'm planning on
getting more statistics and see how it works :)
EURUSD Index for today's close (14.05) is +21, so we hold long EURUSD next daily bar (15.05).