How I can calculate Absolute Currency Strength.
Please look at this link for more details:
Thank you very much
about this excel file ( related to above ):
what is your suggestion for " high, low " time frame ?
if we use D1 time frame to take ( high,low ) and then calculate " Total Strength " , and then use it for our signal in h4 time frame, is it good?
thank's in advance.
I don't think so. the total strength calculated in the excel file is Relative Strength also
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this website calculates absolute strength. but I couldn't run it.
Please check this link:
As far as I know Absolute strength can be calculated using close prices.
I put all the 8 currencies in a matrix like below:
USD EUR AUD CAD JPY NZD CHF GBP
USD 1 x1 x2 x3 x4 x5 x6 x7
EUR 1/x1 1
AUD . 1
which every item is close price of a pair currency
if a pair currency like USDEUR doesn't exist its value will be 1/EURUSD.
so the problem is finding every currencies value (I think using Eigenvalues).