Currency Strength - page 2

[idejan]

Yes, Complex is an indicator which could be used to get picture on the comparative Momentum of single currencies.

Now in this indicator Momentum of 5 major currencies is calculated. It is calculated as an average of the Momentum of 4 currencies pairs for each one of them, e.g. to calculate the Momentum for USD, EURUSD, GBPUSD, USDCHF and USDJPY pairs are used, their Momentum calculated and the average is presented as the Momentum for the single currency USD.

Now I wonder if somebody here could build similar indicator by just replacing the Momentum with RSI, which I believe will give more accurate picture since it is always presented on the scale from 0-100 thus converting the strength to one uniform scale for all currencies (not the case with Momentum) and is better in determine overbought/oversold levels, which is not the case with the Momentum which is the measurement of the speed or velocity of price changes and is better for trending.

Good trading all

ID

[naazaa01]

Individual Currency strength/Currency flow

Greeting to all..

I think something..i dont know are this are good thinking or bad or wrong...

What i know is all money from over the world will check in to bank.So bank will calculate current in and out.Must be some tools,or system that calculate the current amount and be display by number or chart.Then data feed are supply to forex brokers and lastly to us as a small fish traders.Could have any indicator or tools will measure all this current transaction?I think about live actuall volume/strength/flow of individual currency.Example : i have a indicator and give me data feed actuall currency volume for pound is 1000.Then i look into USD and currency volume is 500.So as a comparation volume for cable is more higher than a USD.So by pair like GBPUSD will shown bullish at the moment.I see candlestick go up and down and feed data to indicator.Indicator will show colour,number,OB,OS...divergence,convergence,continue,reversal and etc...standard indi in meta4 like indi volume make me blur related on candle movement..i also had try IN10tion currency meter and x meter indi (got it from tsd)but i think still lag..my trading style is sclaping.I just see opening and closing price at H1 candle stick and see where is the candle go (up or down)after finish 1 hour candle period time.I just think at the moment while candle change if i can know current strength of the currency will make me at the right move and avoid mistake...will you all can suggest something,indicator or etc here?Hopefull to drop any comment here...thanks..

[Viciel]

currency strength

hello everyone i have ideas about indicator (for those programmer who have free time)

i don't know if anyone have make this indicator, but can anyone make an indicator that identify the strength of a currency? so for example taking an average value for the last 200 bar with exponential (so it gives more weight to recent price) and gives certain value for example 1,5 or 2

so the indicator will gives like a line for USD for example 1,3 and GBP for example 1,1 so when the USD line crossed the GBP line USD (USD moves to 1 and GBP moves to 1,5) it means the strengh of GBP is increasing and USD is decreasing so best to buy GBPUSD at that time

is it a good idea? hope anyone get the idea can improve it and more importantly make it so everyone can benefit from it:)

[Viciel]

so anyone get good idea how to make the indicator?

[xx3xxx]

unless you are british fans, do not trade GBP -- no point to guess

think about FTSE-- stock exchange in the name of financial times

did you know -- very few traders go for any stock quote in FTSE --- ask REUTERS (UK) who supply the stock data of that market

so,.... are you still into GBPUSD ?? you may try EUR-GBP first

[cozyman]

forex index?

are there any currency index indicator around?

one that messure strenght of all the pairs together

[Chris]

Coensio USD Strength Indicator CUSIV01

Hi,

Here you go, an extremely simple but quite powerful USD currency strength indicator (CUSIV01). It measures the momentary USD strength, using combined data from the following four USD pairs: EURUSD, GBPUSD, AUDUSD and USDJPY.

cusiv01.mq4

Greets,

Chris

[David Dawkins]

You also might be interested in using a multi currency strength meter called fxmcsm shown below which I use every day. Its a windows desktop application that works with MT4. I find its very easy to use and understand, all I do is to trade when the trade indicators are green using 14 and 50 SMAs on my 1 hour charts for trade confirmations.

[winner246]

HELLO MLADEN,

Please assist with an improved version of COENSIO CUSIV01 Indicator.

It measures USD momentary strength AGAINST 4 currencies,i.e EUR,GBP,AUD AND JPY.

Kindly create a NEW version that rather uses the 8 MAJOR Currencies,i.e USD,EUR,GBP,CHF,AUD,JPY,CAD and NZD.

So this new version will have these 2 additional features;

1. It measures USD against the other 7 currencies.

2. It allows you to ALTERNATE the USD with EACH of the other currencies against the 7 opposite currencies.

MANY THANKS FOR YOUR KIND SERVICE.

[1221931]

winner246:
HELLO MLADEN,

Please assist with an improved version of COENSIO CUSIV01 Indicator.

It measures USD momentary strength AGAINST 4 currencies,i.e EUR,GBP,AUD AND JPY.

Kindly create a NEW version that rather uses the 8 MAJOR Currencies,i.e USD,EUR,GBP,CHF,AUD,JPY,CAD and NZD.

So this new version will have these 2 additional features;

1. It measures USD against the other 7 currencies.

2. It allows you to ALTERNATE the USD with EACH of the other currencies against the 7 opposite currencies.

MANY THANKS FOR YOUR KIND SERVICE.

i'd love to see that also